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Could you please help me with this ASAP. Thank you! High Desert Potteryworks makes a variety of pottery products that it sells to retailers, such
Could you please help me with this ASAP. Thank you!
High Desert Potteryworks makes a variety of pottery products that it sells to retailers, such as Home Depot. The company uses a joborder costing system in which predetermined overhead rates are used to apply manufacturing overhead cost to jobs. The predetermined overhead rate in the Moulding Department is based on machine-hours, and the rate in the Painting Department is based on direct labour cost. At the beginning of the year, the company's management made the following estimates. Job 205 was stanted on August 1 and completed on August to. The compd y's cost records show the following information concemung the job: Required: 1. Compute the predetermined overhead rate used during the year in the Moulding Department. Compute the rate usod in the Painting Department. (Round "Cost per mochine-hour" answer to 2 decimal places.) 2. Compuie the total overhead cast applied to Job 205. (Do not round intermediate calculations. Enter your answer rounded to the nenrest whole dollax.) 3-a. What would be the total cost recorded for Job 205? (Do not round intermediate calculations. Enter your answers rounded to the nearest whole dollar.) 3-b. If the job contained 70 units, what would be the cost per unit? (Do not round intermediate calculations and round your final answer to 2 decimal pleces.) 4. At the end of the year, the records of High Desert Potteryworks revealed the following actual cost and operating data for all jobs worked on during the vear: What was the amount of under- or overapplied overhead in each department at the end of the year? (Do not round intermediate calculations.) Step by Step Solution
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