High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company...
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High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company uses a job-order costing system in which departmental 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 provided the following estimates: Direct labor-hours bok Machine-hours Fixed manufacturing overhead cost 0 Variable manufacturing overhead per direct labor-hour ences Variable manufacturing overhead per machine-hour Department Molding Painting 36,500 57,400 80,000 38,000 $224,000 $533,820 2.40 4.40 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following information concerning the job: Direct labor-hours Kachine-hours Direct materials Direct labor cost Department MoldingPainting 77 380 134 67 $936 $1,300 $740 $960 Required: 1. Compute the predetermined overhead rates used in the Molding Department and the Painting Department. 2. Compute the total overhead cost applied to Job 205. 3-a What would he the total manufacturinn cost recordert for Inh 2052 High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company uses a job-order costing system in which departmental 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 provided the following estimates: Direct labor-hours bok Machine-hours Fixed manufacturing overhead cost 0 Variable manufacturing overhead per direct labor-hour ences Variable manufacturing overhead per machine-hour Department Molding Painting 36,500 57,400 80,000 38,000 $224,000 $533,820 2.40 4.40 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following information concerning the job: Direct labor-hours Kachine-hours Direct materials Direct labor cost Department MoldingPainting 77 380 134 67 $936 $1,300 $740 $960 Required: 1. Compute the predetermined overhead rates used in the Molding Department and the Painting Department. 2. Compute the total overhead cost applied to Job 205. 3-a What would he the total manufacturinn cost recordert for Inh 2052
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