CISE 3-7 Applying Overhead; Cost of Goods Manufactured I The following cost data relate to the manufacturin- Homework Mgr. Acct. Chapter 2 - Problems 7) PV Corporation has two production departments, Casting and Assembly. The company uses a job- order costing system and computes a predetermined overhead rate in each production department. The Casting Department's predetermined overhead rate is based on machine-hours and the Assembly Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Job A182: Machine-hours $3.10 During the current month the company started and finished Job A182. The following data were recorded for this job: Direct labor-hours Direct materials Direct labor cost Casting 50 10 $895 $240 Assembly 20 50 Casting 17,000 3,000 $119,000 $2.10 $365 $1,200 Assembly 11,000 6,000 $51,000 Required: a. Calculate the estimated total manufacturing overhead for the Casting Department. b. Calculate the estimated total manufacturing overhead for the Assembly Department. c. Calculate the predetermined overhead rate for the Casting Department. d. Calculate the predetermined overhead rate for the Assembly Department. e. Calculate the total amount of overhead applied to Job A182 in both departments f. Calculate the total job cost for Job A182. Calculate the selling price for Job A182 if the company marks up its unit p rmine selling prices.

The follont 3-7 Applying Overhead: Cost of Goods Manutacturm x . . . Homewore Mgr: Acct. Chapter 2-Problims 7) PV Corporation has two production departments, Casting and Assembly. The compuny unes a joborder costing system and computes a predetermined overhead nate in each probuction deparmen. The Casting Department's predetermined overtead rate is bosed ca machise hoirs and the Asembly Department's predetermined overthead rate is based on direct blost-bours. At the beginging of the currem. wear the commanv had made the followine estimates: recorded Required: a. Calculate the estimated total manuanom b. Calculate the estimated total manufacturing ove Casting Department. e. Calculate the total f. Calculate the totall job cos for c. Calculate the selling por ine selling prices