Exercise 2-2 (Algo) Apply Overhead Cost to Jobs (LO2-2] Luthan Company uses a plantwide predetermined overhead rate of $22.70 per direct labor-hour. This predetermined rate was based on a cost formula that estimated $272,400 of total manufacturing overhead cost for an estimated activity level of 12,000 direct labor- hours. The company incurred actual total manufacturing overhead cost of $266,000 and 11,100 total direct labor-hours during the period. Required: Determine the amount of manufacturing overhead cost that would have been applied to all jobs during the period. Manufacturing overhead applied $ 249,700 Exercise 2-8 (Algo) Applying Overhead Cost; Computing Unit Product Cost [LO2-2, LO2-3] Newhard Company assigns overhead cost to jobs on the basis of 118% of direct labor cost. The job cost sheet for Job 313 includes $17,846 in direct materials cost and $10,300 in direct labor cost. A total of 1,550 units were produced in Job 313. Required: a. What is the total manufacturing cost assigned to Job 313? b. What is the unit product cost for Job 313? a. Total manufacturing cost b. Unit product cost Exercise 2-7 (Algo) Job-Order Costing; Working Backwards [LO2-1, LO2-2, LO2-3] Hahn Company uses a job-order costing system. Its plantwide predetermined overhead rate uses direct labor-hours as the allocation base. The company pays its direct laborers $14.00 per hour. During the year, the company started and completed only two jobs-Job Alpha, which used 57,600 direct labor-hours, and Job Omega. The job cost sheets for these two jobs are shown below. Job Alpha Direct materials Direct labor Manufacturing overhead applied Total job cost Job Omega Direct materials Direct labor. Manufacturing overhead applied Total job cost Required: ? $ 1,638,000 $ 218,300 331,800 165,900 $ 716,000 1. Calculate the plantwide predetermined overhead rate. 2. Complete the job cost sheet for Job Alpha. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the plantwide predetermined overhead rate. (Round your answer to 2 decimal places.) Plantwide prodetermined overhead rate per DLH 05 Exercise 2-7 (Algo) Job-Order Costing; Working Backwards [LO2-1, LO2-2, LO2-3] Hahn Company uses a job-order costing system. Its plantwide predetermined overhead rate uses direct labor-hours as the allocation base. The company pays its direct laborers $14.00 per hour. During the year, the company started and completed only two jobs-Job Alpha, which used 57,600 direct labor-hours, and Job Omega. The job cost sheets for these two jobs are shown below. Job Alpha Direct materials Direct labor Manufacturing overhead applied Total job cost Job Omega Direct materials Direct labor Manufacturing overhead applied Total job cost Required: ? ? $ 1,638,000 $ 218,300 331,800 165,900 $ 716,000 1. Calculate the plantwide predetermined overhead rate. 2. Complete the job cost sheet for Job Alpha. Complete this question by entering your answers in the tabs below. Required 11 Required 2 Complete the job cost sheet for Job Alpha. (Round your intermediate calculations to 2 decimal places.) Direct materials Direct labor Manufacturing overhead applied Total job cost 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 production Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per direct labor-hour Variable manufacturing overhead cost per machine-hour 105,000 52,500 $ 294,000 $ 3.00 $ 6.00 During the year, Job 550 was started and completed. The following information is available with respect to this job: Direct materials. Direct labor cost $ 229 $ 293 Direct labor-hours Machine-hours Required: 15 5 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 1b. Total manufacturing cost of Job 550 1c. Selling price 2. Machine-hours: per DLH 2a. Predetermined overhead rate per MH 2b. Total manufacturing cost of Job 550 20: Selling price