High Desert Potteryworks makes a variety of pottery products that it sells to retailers such as Home Depot The company uses a job-order costing system in which predetermined overhead rates are used to apply manufacturing overhead cost to jobs. The predetermined overhead rate in the Molding Department is based on machine-hours, and the rate in the Painting Department is based on direct labor-hours. At the beginning of the year, the company's management made the following estimates: Department Direct labor-hours Machine-hours Direct materials cost Direct labor cost Fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor- hour Molding 30,500 81,000 $185.000 $271.000 $218,700 $2.60 Painting 51,300 38.000 $ 195,000 $526.000 $471,960 $4.60 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following information concerning the job: Department Molding Painting Direct labor-hours 71 130 Machine-hours 300 74 Materials placed into production $944 $1,140 Ditect labor cost $720 $960 Required: 1. Compute the predetermined overhead rate used during the year in the Molding Department Compute the rate used in the Painting Department. (Round your answers to 2 decimal places.) Predetermined overhead rate Molding Department Painting Department per DLH per MH 2. Compute the total overhead cost applied to Job 205. (Round "Predetermined overhead rate" to 2 decimal places, other intermediate calculations and final answers to the nearest dollar amount.) Total overhead cost 3- What would be the total cost recorded for Job 205? (Round "Predetermined overhead rate" to 2 a. decimal places, other intermediate calculations and final answers to the nearest dollar amount.) Department Molding Painting Total $ 0 0 Direct materials Direct labor Manufacturing overhead Total cost Olo $ 0 $ 0 $ 3-b. If the job contained 34 units, what would be the unit product cost? (Round "Predetermined overhead rate and final answer to 2 decimal places and other intermediate calculations to the nearest dollar amount.) Unit product cost per unit 4. At the end of the year, the records High Desert Potteryworks revealed the following actual cost and operating data for all jobs worked on during the year. Department Direct labor-hours Machine-hours Direct materials cost Direct labor cost Manufacturing overhead cost Molding 27,000 80,700 $163,900 $108,000 $438,910 Painting 52,000 24,400 $424,000 $436,000 $680,000 What was the amount of underapplied or overapplied overhead in each department at the end of the year? (Round "Predetermined overhead rate" to 2 decimal places, other intermediate calculations and final answers to the nearest dollar amount. Select "None" for no effect (i.e., zero variance).) Molding Department Painting Department
