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 Molding Painting Direct labor-hours 39,000 56,500 Machine-hours 88,000 31,000 Direct materials cost $188,000 $198,000 Direct labor cost $281,000 $517,000 Fixed manufacturing overhead cost $193,600 $519,800 Variable manufacturing overhead per machine-hour $2.60 - Variable manufacturing overhead per direct labor-hour - $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 85 133 Machine-hours 360 70 Materials placed into production $934 $1,280 Direct labor cost $740 $990 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.)

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.)

3-a. What would be the total cost recorded for Job 205? (Round "Predetermined overhead rate" to 2 decimal places, other intermediate calculations and final answers to the nearest dollar amount.)

3-b. If the job contained 37 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.)

4. At the end of the year, the records of High Desert Potteryworks revealed the following actual cost and operating data for all jobs worked on during the year: Department Molding Painting Direct labor-hours 28,000 57,000 Machine-hours 87,700 24,300 Direct materials cost $162,900 $428,000 Direct labor cost $108,000 $436,000 Manufacturing overhead cost $431,660 $750,600 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).)

value 1.66 points Problem 2-24A Multiple Departments, Applying Overhead [LO2-1, LO2-2, LO2-3, LO2-7] 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 Molding Painting 39,000 88,000 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 56,500 31,000 $188,000 $198,000 $281,000 $517,000 $193,600 $519,800 $2.60 $4.60 hour 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 Direct labor-hours Machine-hours Materials placed into production Direct labor cost Molding 85 360 $934 $740 Painting 133 70 $1,280 $990 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.)