Hultquist Corporation has two manufacturing departments--Forming and Customizing. The company used the following data at the beginning of the period to calculate predetermined overhead rates: Estimated total machine-hours (MHS) Estimated total fixed manufacturing overhead cost Estimated variable manufacturing overhead cost per MH Forming Customizing 8,000 8,000 $4,000 $20,000 $ 3.00 Total 16,000 $24,000 $ 6.00 During the period, the company started and completed two jobs--Job C and Job L. Data concerning those two jobs follow: Direct materials Direct labor cost Forming machine-hours Customizing machine-hours Job C Job L $15, 700 $ 9,200 $22,500 $ 9,400 2,700 5,300 400 7,600 Required: a. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate that overhead rate. (Round your answer to 2 decimal places.) b. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the amount of manufacturing overhead applied to Job L. (Do not round intermediate calculations.) C. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the total manufacturing cost assigned to Job L. (Do not round intermediate calculations.) 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 selling prices. Calculate the selling price for Job L. (Do not round intermediate calculations.) e. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments. What is the departmental predetermined overhead rate in the Forming department? (Round your answer to 2 decimal places.) f. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. What is the departmental predetermined overhead rate in the Customizing department? (Round your answer to 2 decimal places.) g. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. How much manufacturing overhead will be applied to Job L? (Do not round intermediate calculations.) 6.00 per MH 77,400 96,000 $ a. Predetermined overhead rate b. Manufacturing overhead applied c. Manufacturing cost d. Selling price e. Forming predetermined overhead rate f. Customizing predetermined overhead rate g. Manufacturing overhead applied job L $ $ $ 3.50 per MH 8.50 per MH 83,150 E
