Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed
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: Department Direct abor-hours Molding Painting Machine-hours 38,500 57,800 Fixed manufacturing overhead cost 82,000 31,000 Variable manufacturing overhead per machine-hour $237.000 $549, 100 Variable manufacturing overhead per direct labor-hour $ 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-bours Machine-hour bireet materials Direct labor coat Department Molding PATS 80 135 340 70 $942 $1,140 $ 730 $1,010 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, 3-0. What would be the total manufacturing cost recorded for Job 205? 3.b. If the job contained 36 units, what would be the unit product cost? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 30

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

Introduction To Managerial Accounting

Authors: Peter Brewer, Ray Garrison, Eric Noreen

9th Edition

1265672008, 978-1265672003

More Books

Students also viewed these Accounting questions