A Data Table Machining Department MH Assembly Department 10 DL hours Job.500 ....4 DL hours Job.501 ....8 MH 10 DL hours 2 DL hours Both Jobs 500 and 501 used $1,000 of direct materials. Wages and benefits total $20 per direct labor hour. Voisine Products prices its products at 110% of total manufacturing costs. Print Done Job 500 Job 501 Sales price Less: Tolal manufacturing costs Gross profit/ (loss) Based on the departmental overhead rates and the sales price determined in Requirement 7. how much profit did the company really eam on each job? Calculate the gross profit using the departmental rate costing system. (Use parentheses or a minus sign to show losses.) Job 500 Job 501 Sales price Less: Total manufacturing costs: Direct materials Direct labor Manufacturing overhead Gross profit / (loss) Requirement 9. Compare and comment on the results you obtained in Requirements 7 and 8. When utilizing a single rate allocation method, Voisine believes that both jobs are equally profitable When utilizing a refined coating method, Voisine realizes that Job 500 is profitable but Job 501 shows a loss Choose from any list or enter any number in the input fields and then continue to the next question Requirement 7. Compute the total manufacturing cost and sales price of each job using the company's current plantwide overhead rate. (Round amounts to the nearest dollar. Enter the percentage as a whole number.) Job 500 Job 501 Direct materials Direct labor Manufacturing overhead Total manufacturing costs Markup for pricing (%) Sales price Requirement 8. Based on the current (plantwide) allocation system, how much profit did the company think it earned on each job? Calculate the gross profit using the current costing system. Job 500 Job 501 Sales price Less: Total manufacturing costs Gross profit / (loss) A Data Table Machining Department MH Assembly Department 10 DL hours Job.500 ....4 DL hours Job.501 ....8 MH 10 DL hours 2 DL hours Both Jobs 500 and 501 used $1,000 of direct materials. Wages and benefits total $20 per direct labor hour. Voisine Products prices its products at 110% of total manufacturing costs. Print Done Job 500 Job 501 Sales price Less: Tolal manufacturing costs Gross profit/ (loss) Based on the departmental overhead rates and the sales price determined in Requirement 7. how much profit did the company really eam on each job? Calculate the gross profit using the departmental rate costing system. (Use parentheses or a minus sign to show losses.) Job 500 Job 501 Sales price Less: Total manufacturing costs: Direct materials Direct labor Manufacturing overhead Gross profit / (loss) Requirement 9. Compare and comment on the results you obtained in Requirements 7 and 8. When utilizing a single rate allocation method, Voisine believes that both jobs are equally profitable When utilizing a refined coating method, Voisine realizes that Job 500 is profitable but Job 501 shows a loss Choose from any list or enter any number in the input fields and then continue to the next question Requirement 7. Compute the total manufacturing cost and sales price of each job using the company's current plantwide overhead rate. (Round amounts to the nearest dollar. Enter the percentage as a whole number.) Job 500 Job 501 Direct materials Direct labor Manufacturing overhead Total manufacturing costs Markup for pricing (%) Sales price Requirement 8. Based on the current (plantwide) allocation system, how much profit did the company think it earned on each job? Calculate the gross profit using the current costing system. Job 500 Job 501 Sales price Less: Total manufacturing costs Gross profit / (loss)
