Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hultquist Corporation has two manufacturing departments. Forming and Customizing. The company used the followng dara at the beginning of the period to calculate predetermined overhead

image text in transcribed
Hultquist Corporation has two manufacturing departments. Forming and Customizing. The company used the followng dara at the beginning of the period to calculate predetermined overhead rates: During the period, the company started and completed two jobs - Job C and Job L. Data concerning those two jobs follow. Required: a. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate that ovethead rate. (Round your answer to 2 decimal places.) b. Assume that the company uses a plantwide predetermined manufacturing ovethead rate based on machine-hours. Calculate the amount of manufacturing overhead applied to Job L. (Do not round intermediate calculetions.) c. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machinehours. Calculate the total manufacturing cost assigned to Job L (Do not round intermediate calculotions.) d. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine hours and uses a markup of 20% on manufacturing cost to establish seling prices. Calculate the selling price for Job L.. (Do not round intermediate colculations.) e. Assume that the company uses departmental prederermined overhead rates with machine-hours as the allocation base in both departments. What is the departmental predetermined ovethead rate in the Forming departmert? (Round your answer to 2 decimal ploces.) f. Assume that the company uses departmental predetermined overhead rates with machine-hours as me allocation base in both production departments. What is the departmental prederermined overhead rate in the Customizing department? (Round your answer to 2 decimal ploces.) 9. Assume that the company uses departmental predetermened overhead rates with machine hours as the allocation base in both production departments. How much manufacturing ovethead will be appled t lob l? (Do not round intermediote calculetions.) h. Assume that the company uses departmental predetemined overhead rates with machine-hours as the allocation base in both production departments. Further assume that the company uses a makup of 20% on manufacturing cost to estabich seling Pices Calculate the seling price for Jab L. (Do not round intermediote colculations.)

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

A Comprehensive Guide To Information Security Management And Audit

Authors: Rajkumar Banoth, Gugulothu Narsimha, Aruna Kranthi Godishala

1st Edition

1032344431, 978-1032344430

More Books

Students also viewed these Accounting questions