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 (1) Estimated total fixed manufacturing overhead cost Estimated variable manufacturing overhead cost per Forming Customizing 6,000 4,000 $24,000 $10,400 $ 1.00 $ 2.00 Total 10,000 $34,400 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 Forning machine-hours Customizing machine-hours Job C Job L $16,400 $ 9,700 $23,100 $10,100 2,500 3,500 2,500 1,500 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 80% on manufacturing cost to establish selling prices Calculate the selling price for Job L. (Do not round intermediate 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.) 1. 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.) 9. 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.) h. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. Further assume that the company uses a markup of 80% on manufacturing cost to establish selling prices. Calculate the selling price for Job L (Do not round intermediate calculations.) a Predetermined overhead rate b. Manufacturing overhead applied $ $ 484 per MH 24,200 Forming machine-hours Customizing machine-hours 2,5ee 2,500 3,500 1.5eg Required: a. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calcula 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. Calcula 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. Calcula 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 use markup of 80% on manufacturing cost to establish selling prices Calculate the selling price for Job L. (Do not round Intermed calculations.) e. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in departments. What is the departmental predetermined overhead rate in the Forming department? (Round your answer to 2 places.) f. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in b production departments. What is the departmental predetermined overhead rate in the Customizing department? (Round you to 2 decimal places.) g. Assume that the company uses departmental predetermined overhead rates with machine hours as the allocation base in production departments. How much manufacturing overhead will be applied to Job L2 (Do not round intermediate calculation h. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in production departments. Further assume that the company uses a markup of 80% on manufacturing cost to establish selling Calculate the selling price for Job L. (Do not round intermediate calculations.) 484 per MH 13 S $ c 24,200 44.000 Predetermined overhead rate b. Manufacturing overhead applied Manufacturing cost d Selling price e. Forming predetermined overhead rate f Customizing predetermined overhead rate g Manufacturing overhead applied job Selling price for job L. $ 79.2001 per MH per MH h
