Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

2 High Desert Pottery Works makes a variety of pottery products that it sells to retailers. The company uses a job-order costing system in which

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
2 High Desert Pottery Works 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 to jobs. 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: 5 points Department Holding Painting 32.ee 59, eee 88,000 39,80 $199,600 $542,800 $ 2.60 $ Direct Labor hours Machine hours Fixed nanufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Book Print Job 205 was started on August 1 and completed on August 10. The company's cost records show the following information concering the job: References Direct labor-hours Machine-hours Direct materials Direct labor cost Department MoldingPainting 134 30 75 $930 $1,240 5 702970 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 2052 3.b. I the job contained 26 units, what would be the unit product cost? Complete this question by entering your answers in the tabs below. Regi Reg 2 Reg 3 Reg38 Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Req Req 3B Compute the predetermined Overhead kates 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 DLH 3 Reg Reg 2 > Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Req 3A Red B 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 con Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg 3A Req 3B What would be the total manufacturing cost recorded for Job 2057 (Round "Predetermined overhead rate" to 2 decimal places. Round other intermediate calculations and final answers to the nearest dollar amount.) Department Molding Painting Total Direct materials Direct labor Manufacturing overhead Total cost Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Req 3A Reg 3B If the job contained 26 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 productos per unit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions