connect cancel print 1. Award: 3.75 points Problem 2-16 (Algo) Plantwide Predetermined Overhead Rates; Pricing [LO2-1, LO2-2, LO2-3] Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates: Direct labor-hours required to support estimated 115,000 production Machine-hours required to support estimated production 57,500 Fixed manufacturing overhead cost $ 322,000 Variable manufacturing overhead cost per direct labor- $ 3.40 hour Variable manufacturing overhead cost per machine-hour $ 6.80 During the year, Job 550 was started and completed. The following information is available with respect to this job: Direct materials $ 252 Direct labor cost $ 370 Direct labor-hours 15 Machine-hours 5 Required: 1. Assume that Landen has historically used a plantwide predetermined overhead rate with direct labor-hours as the allocation base. Under this approach: a. Compute the plantwide predetermined overhead rate. b. Compute the total manufacturing cost of Job 550. c. If Landen uses a markup percentage of 200% of its total manufacturing cost, what selling price would it establish for Job 550? 2. Assume that Landen's controller believes that machine-hours is a better allocation base than direct labor-hours. Under this approach: a. Compute the plantwide predetermined overhead rate. b. Compute the total manufacturing cost of Job 550. c. If Landen uses a markup percentage of 200% of its total manufacturing cost, what selling price would it establish for Job 550? (Round your intermediate calculations to 2 decimal places. Round your Predetermined Overhead Rate answers to 2 decimal places and all other answers to the nearest whole dollar.) 1. Direct labor-hours: 1a. Predetermined overhead rate per DLH 1b. Total manufacturing cost of Job 550 1c. Selling price 2. Machine-hours: 2a. Predetermined overhead rate per MH 2b. Total manufacturing cost of Job 550 2c. Selling price References Worksheet Problem 2-16 (Algo) Plantwide Predetermined Overhead Rates; Pricing [LO2-1, LO2-2, LO2-3]connect cancel print 3. Award: 3.75 points Problem 2-19 (Algo) Multiple Predetermined Overhead Rates; Applying Overhead [LO2-1, LO2-2, LO2-4] 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: Department Molding Painting Direct labor-hours 37,000 60,000 Machine-hours 89,000 30,000 Fixed manufacturing overhead cost $ 231,400 $ 582,000 Variable manufacturing overhead per machine-hour $ 2.40 Variable manufacturing overhead per direct labor-hour $ 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 Molding Painting Direct labor-hours 75 133 Machine-hours 340 69 Direct material $ 944 $ 1,200 Direct labor cost $ 740 $ 1,000 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-b. If the job contained 24 units, what would be the unit product cost? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 3B Compute the Predetermined Overhead Rates used in the Molding Department and the Painting Department. (Round your answers to 2 decimal places.) Show less A Predetermined Overhead Rate Molding Department per MH Painting Department per DLH Required 1 Required 2 > References Worksheet Problem 2-19 (Algo) Multiple Predetermined Overhead Rates; Applying Overhead [LO2-1, LO2-2, LO2-4]connect cancel print 4. Award: 3.75 points Problem 2-21 (Algo) Plantwide Versus Multiple Predetermined Overhead Rates [LO2-1, LO2-2] Mason Company has two manufacturing departments-Machining and Assembly. The company considers all of its manufacturing overhead costs to be fixed costs. It provided the following estimates at the beginning of the year as well as the following information with respect to Jobs A and B: Estimated Data Machining Assembly Total Manufacturing overhead $ 5,054,000 $ 361,000 $ 5,415,000 Direct labor-hours 19,000 266,000 285,000 Machine-hours 266,000 14,000 280,000 Job A Machining Assembly Total Direct labor-hours 5 10 15 Machine-hours 11 13 Job B Machining Assembly Total Direct labor-hours 4 5 9 Machine-hours 12 15 Required: 1. If Mason Company uses a plantwide predetermined overhead rate with direct labor- hours as the allocation base, how much manufacturing overhead cost would be applied to Job A? Job B? 2. Assume that Mason Company uses departmental predetermined overhead rates. The Machining Department is allocated based on machine-hours and the Assembly Department is allocated based on direct labor-hours. How much manufacturing overhead cost would be applied to Job A? Job B? (Round your intermediate calculations and final answers to 2 decimal places.) 1. Manufacturing overhead applied Job A 1. Manufacturing overhead applied Job B 2. Manufacturing overhead applied Job A 2. Manufacturing overhead applied Job B References Worksheet Problem 2-21 (Algo) Plantwide Versus Multiple Predetermined Overhead Rates [LO2-1, LO2-2]Award: 335 points Problem 218 [Algo] Job-Order Costing for a Service Company [LUZ-1. LUZ-2. L02-3] Speedy Auto Repairs uses a job-order costing system. The company's direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics' houdy wages. Speedy's overhead costs include various items, such as the shop manager's salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. The company applies all of its overhead costs to jobs based on direct labor-hours. At the beginning of the year, it made the following estimates: Direct labor-hours required to support estimated output 50.000 Fixed overhead cost $ 925.000 Variable overhead cost per direct labor-hour 31.00 Required: 1. Compute the predetermined overhead rate. 2. During the year, Mr. Wilkes brought in his vehicle to replace his brakes. spark plugs, and tires. The following information was available with respect to his job: Direct materials 5 519 Direct labor cost 5 254 Direct labor-hours used 5 Compute Mr. Wilkes' total job cost. 3. If Speedy establishes its selling prices using a markup percentage of 60% of its total job cost. then how much would it have charged Mr. Wilkes? Cemplete the question by entering your answers In the tube given below. Required 1 Required 2 Required 3 Compute the predetermined overhead rate. {Round your answer to 2 decimal places.) :iw 1 References Worksheet Problem 2-18 (Algal Job- Order Costlng for a Service Company ILO2-'I. L022. L02-3]