Exercise $2-12($Algo$)$ Computing Predetermined Overhead Rates and Job Costs $[$LO$2-1,$ LO$2-2,$ LO$2-3]$

Moody Corporation uses a job$-$order costing system with a plantwide predetermined overhead rate based on machine$-$hours. At the beginning of the year, the company made the following estimates:

Machine$-$hours required to support estimated production

Fixed manufacturing overhead cost

Variable manufacturing overhead cost per machine$-$hour

$153,000$

$$653,000$

$$4\mathrm{.}90$

Required:

Compute the plantwide predetermined overhead rate.

During the year, Job $400$ was started and completed. The following information was available with respect to this job:

$\backslash$table$[[$Direct materials,$$340($I WILL LIKE YOUR ANSWER THANKS$)$