Answered step by step
Verified Expert Solution
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
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 Molding 2.000 $ 6.000 1.50 Estimated total fixed manufacturing overhead cost Estimated variable namatatarang overhead coat per II by .000 24.800 7.00 Total 10.000 0,00 $ During the period, the company started and completed two jobs Job and Job M Data concerning those twojobs Molding machinehousa Aasenbiy machin-hours 1,250 750 ,250 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 overhead rate based on machine hours. Calculate the armount of manufacturing overhead applied to Job E. Do not found intermediate calculations) C. Assume that the company uses a plentwide 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 selling 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 departments. What is the departmental predetermined overhead rate in the Molding department? (Round your answer to 2 decimal
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started