Harnett Corporation has two manufacturing beginning of the period to calculate p

Question

Harnett Corporation has two manufacturing beginning of the period to calculate predetermined overhead rates departments Molding and Assembly The company used the following data at the 10 points Estimated total machine-hours (MHs) Estimated total fixed $ 62,188 $7,8e0 $ 69,988 PiD During the period. the company started and completed two jobs-Job E and Job M. Data concerning those two jobs follow Direct materials Direct labor cost Molding machine-hours Assembly machine-hours Job E Job M $21,280$ 7,880 $23,508 $ 8,488 2,508 6,580 Required: a. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate that overhead rate. (Round your answer to 2 decimal places.) b. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the amount of manufacturing overhead applied to Job E (Do not round intermediate calculations.) c. Assume that the company uses a plantwide predetermined manufacturing o total manufacturing cost assigned to Job E. (Do not round intermediate calculations.) d. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 20% on manufacturing cost to establish selling prices. Calculate the selling price for Job E. (Do not round intermediate calculations.) e. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments. What is the cepartmental predetermined överhead rate in the Molding department? (Round your answer to 2 decimal places.) f Assume that the company uses departm rate based on machine-hours. Calculate the ental predetermined overhead rates with machine-hours as the allocation base in both hat is the departmental predetermined overhead rate in the Assembly department? (Round your answer to 2 decimal places.) g. Assume that the company uses departmental predetermined o verhead rates with machine-hours as the allocation base in both ion departments. How much manufacturing bverhead willbe applied to Job E? (Do not round inter Assume that the company uses departmental predetermine d overhead rates with machine-hours as the allocation base in both ction departments. Further assume that the company}uses a markup of 20% on manufacturing cost to establish selling prices Calculate the selling price for Job E (Do not round intermediate calculations.)

Explanation / Answer

Working:

a Predetermined overhead rate $6.99 per machine hour b Manufacturing overhead applied to Job# E $20,970 c Total manufacturing cost allocated to Job# E $65,670 d Selling Price for Job# E $78,804 e Molding department overhead rate $6.90 per machine hour f Assembly department overhead rate $7.80 per machine hour g Manufacturing overhead applied to Job# E $21,150 h Selling Price for Job# E $79,020

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