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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:
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 $ 6.00 Total 16,000 $ 24,000 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 per MH 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 h. Selling price for job L per MH per MH
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