Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Check my High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company uses a job-order costing system in which
Check my 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: points Direct labor-hours Machine-hour's Fixed manufacturing overhead cost variable manufacturing overhead per machine hour Variable manufacturing overhead per direct labor-hour Department Molding Painting 34. eee $1,000 85,000 36,00 $187.000 $438,00 $ 3.00 $ 5.00 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following Information concerning the job: References Direct labor-hours Machine-hours Direct materials Direct labor cost Department Moldingpainting 89 131 320 71 $946 $1,160 5 720 $ 988 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. If the job contained 32 units, what would be the unit product cost? Complete this question by entering your answers in the tabs below. Reg 1 Req 3A Req 38 Compute the total head 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 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 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 labon-hours Machine hours Fixed manufacturing overhead cost Variable manufacturing overhead per machine hour Variable manufacturing overhead per direct labor-hour Department Molding Painting 14,00 $1,000 85.038 35,000 $187.00 $4 ,600 $ 3.90 $ 5.0 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 Machine-hours Direct materials Direct labor cost 5 M6 $1.164 $ 720 $ 982 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. If the job contained 32 units, what would be the unit product cost? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 Reg38 What would be the total manufac cost recorded for Job 2052 (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 Check my work 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: Direct labor-hours Machine-hours Fixed manufacturing Overhead cost Variable manufacturing overload per nachine-hour Variable manufacturing overhead per direct labor-hour Department Holding Painting 34,000 51,900 B5, 36,000 $183,000 $438,60 $ 3.00 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following information concering the job Department Moldingpainting Direct labor-hours Machine-hours Direct materials Direct Labor cost $ 946 $ 720 $1,16e $ 988 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? 3-5. If the job contained 32 units what would be the unit product cost? Complete this question by entering your answers in the tabs below. ***** Reg 38 tegi Reg 2 e 3 If the job contained 32 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.) Unt product cast per unit (Req3A
Step 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