Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

amework Saved Help High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company uses a job-order costing system in

image text in transcribed
amework Saved Help 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 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 38,500 57,800 82,000 31,000 $237,800 $549, 100 5 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 Holding Painting Direct labor-hours 00 Machine-hours 340 70 Direct materials $ 942 $1,140 Direct labor cost $ 730 $ 1,010 135 Required: 1. Compute the predetermined overhead rotes 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 2057 3-5. If the job contained 36 units, what would be the unit product cost? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Renuired 3A Required 3

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

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

Get Started

Recommended Textbook for

Electronic Health Records An Audit And Internal Control Guide

Authors: Rebecca S. Busch

1st Edition

0470258209, 978-0470258200

More Books

Students also viewed these Accounting questions