Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Harnett Corporation has two manufacturing departments-Molding and Assembly. The company used the following data at the beginning of the period to calculate predetermined overhead rates:

image text in transcribed
image text in transcribed
Harnett Corporation has two manufacturing departments-Molding and Assembly. The company used the following data at the beginning of the period to calculate predetermined overhead rates: ienbly3,00011,7005,5.00 During the period, the company started and completed two jobs-Job E and Job M. Data concerning those two jobs follow: Required: a. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate that overhead rate. (Round your answer to 2 decimal places.) b. Assume that the company uses a plantwide predetermined manufacturing overthead rate based on machine-hours. Calculate the amount of manufacturing overhead applied to Job E. (Do not round intermediate calculations.) c. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the total manufacturing cost assigned to Job E. (Do not round intermediate calculations.) d. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 20% on manufacturing cost to establish selling prices. Calculate the seliing price for Job E. (Do not round intermediate calculations.) e. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both deportments. What is the departmental predetermined overhead rate in the Molding department? (Round your answer to 2 decimal places.) f. Assume that the company uses departmenta/ predetermined overhead rates with machine-hours as the allocation base in both production departments. What is the departmental predetermined overhead rate in the Assembly department? (Round your answer to 2 decimal places.) 9. Assume that the company uses departmental predetermined overhead rotes with machine-hours as the allocation base in both production departments. How much manutacturing overhead will be applied to Job E? (Do not round intermediate calculations.) h. Assume that the company uses departmenta/ predetermined overhead rates with machine-hours as the allocation base in both production departments. Further assume that the company uses a markup of 20% on manufacturing cost to establish selling prices. Calculote the selling price for Job E. (Do not round intermediate calculations.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions