Answered step by step
Verified Expert Solution
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
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 Molding Painting Direct labor-hours 33,000 58,800 Machine-hours 82,000 31,000 Fixed manufacturing overhead cost $188,600 $499,800 Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour - $ 5.00 $ 3.00 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 Machine-hours Direct materials Direct labor cost Department Molding Painting 135 380 70 $ 946 $1,220 $ 750 $ 980 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 be the total manufacturing cost recorded for Job 205? 3-b. If the job contained 24 units, what would be the unit product cost? Required 1 Required 2 Required 3A Required 3B Compute the predetermined Overhead Rates used in the Moldir answers to 2 decimal places.) Predetermined Overhead Rate Molding Department per MH Painting Department per DLH Required 1 Required 2 Required 3A Required 3B Compute the total overhead cost applied to Job 205. (Round "Pred intermediate calculations and final answers to the nearest dollar ar Total overhead cost Required 1 Required 2 Required 3A Required 3B What would be the total manufacturing cost recorded for Job 205? (Round "Predeterm places. Round other intermediate calculations and final answers to the nearest dollar a Department Molding Painting Total Direct materials Direct labor Manufacturing overhead Total cost Required 1 Required 2 Required 3A Required 3B If the job contained 24 units, what would be the unit product places. Round other intermediate calculations to the nearest Unit product cost per unit
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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