Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1. Compute the predetermined overhead rates used in the Molding Department and the Painting Department. 2. Compute the total overhead cost applied to Job 205.
1. Compute the predetermined overhead rates used in the Molding Department and the Painting Department.
2. Compute the total overhead cost applied to Job 205.
3-a. What would be the total manufacturing cost recorded for Job 205?
3-b. If the job contained 39 units, what would be the unit product cost?
High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company uses a job-order costing system in which departmental predetermined overhead rates are used to apply manufacturing overhead cost tojobs. The predetermined overhead rate in the Molding Department is based on machine-hours, and the rate in the Painting Department is based on direct labor- hours. At the beginning of the year, the company provided the following estimates: Department Molding Painting Direct labor-hours 38,000 5?,200 Machine-hours 86,000 34,000 Fixed manufacturing overhead cost $ 232,200 $ 509,080 Variable manufacturing overhead per machine-hour $ 2.60 - Variable manufacturing overhead per direct labor-hour - $ 4.60 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following information concerning thejob: Department Molding Painting Direct labor-hours ?4 131 Machine-hours 330 ?4 Direct materials $ 936 $ 1,240 Direct labor cost $ 720 $ 9?0 Required: 1. Compute the predetermined overhead rates used in the Molding Department and the Painting Department. 2. Compute the total overhead cost applied to Job 205. 3-a. What would be the total manufacturing cost recorded for Job 205? 3-b. Ifthejob contained 39 units. what would be the unit product cost? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 3B Compute the Predetermined Overhead Rates used in the Molding Department and the Painting Department. (Round your answers to 2 decimal places.) Predetermined Overhead Rate Molding Department per MH Painting Department per DLHComplete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 3B Compute the total overhead cost applied to Job 205. (Round "Predetermined overhead rate" to 2 decimal places. Round other intermediate calculations and final answers to the nearest dollar amount.) Total overhead costComplete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 3B What would be the total manufacturing cost recorded for Job 205? (Round "Predetermined overhead rate" to 2 decimal places. Round other intermediate calculations and final answers to the nearest dollar amount.) Molding Painting Total Department Department Direct materials Direct labor Manufacturing overhead Total costComplete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 3B If the job contained 39 units, what would be the unit product cost? (Round "Predetermined overhead rate" to 2 decimal places. Round other intermediate calculations to the nearest dollar amount. Round your final answer to 2 decimal places.) Unit product cost per unitStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started