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Accounting multiple predetermined overhead rates applying overhead High Desert Poteryworks makes a variety of pottery products that it sells to retailers. The company uses a
Accounting multiple predetermined overhead rates applying overhead
High Desert Poteryworks 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: Direct labor-hours Machine-hours Fixed manufacturing overhead cost variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Department Molding Painting 31,500 57.800 85,000 40,000 $195,500 $554, 880 $ 2.40 $ 4.40 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following information concerning the job: Department Moldingpainting Direct labor-hours 90 129 Machine-hours 320 65 Direct materials $ 934 $1,260 Direct labor cost $ 720 $ 980 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 3-0. What would be the total manufacturing cost recorded for Job 205? 3-b. If the job contained 31 units, what would be the unit product cost? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Req 3A Reg 38 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 $ 540 Painting Department $ 14,30 per DLH per MH Reg 2 > Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 R, Req 3B What would be the total manufacturing cost recorded for Job 205? (Round "Predetem Round other intermediate calculations and final answers to the nearest dollar amour Department Molding Painting 930 x $ 1,280 X $ 740 1,000 $ Total 2,210 1,740 Direct materials Direct labor Manufacturing overhead Total cost 1,728 1,902 3,630 $ 3,398 $ 4,182 $ 7,580
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