Kody Corporation uses a job-order costing system with a plantwide ovehead rate b

Question

Kody Corporation uses a job-order costing system with a plantwide ovehead rate based on machine-hours. At the beginning of the year, the company made the ftollowing estimaters: Machine-hours required to support essmated production Fxed 150,000 750,000 4.00 overhead cost Required: 1. Compute the predetermined overhead rate per MH 2. During the year Job 500 was started and completed. The following information was available with respect to this job Direct materials requisitioned Direct labor cost S350 $ 230 Machine-hours used Compute the total manufacturing cost assigned to Job 500

Explanation / Answer

predetermined overhead rate fixed manufacturing overhead cost (750,000/150,000)= 5 variable manufacturing overhead cost 4 predetermined overhead rate 9 1) predetermined overhead rate $9 per MH 2) Direct material requistioned 350 Direct labor cost 230 overhead applied (9*30) 270 total manufacturing cost 850 answer 3)-a) Applied overhead (147000*9) 1323000 Actual manufacturing overhead 1,325,000 overhead under applied 2,000 answer 3b) Decrease

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