i Job cost record Direct material used Direct manufacturing labor costs Direct manufacturing labor-hours Machine-hours Machining Department Assembly Department 41,000 $ 75,000 $ 17,000 $ 19,000 1,000 1,300 2,100 1,600 Print Done Requirement 1. Identify the components of the overview diagram of Lawrence's job-costing system. Compute the budgeted manufacturing overhead rate for each department. (Abbreviations used: Manuf. = manufacturing.) Machining Assembly B A Indirect Cost Pool B Machining Department Manuf. Overhead C Assembly Department Manuf. Overhead Cost Allocation Base Machine-Hours Direct Manufacturing Labor Cost F G } G H Cost Object Product Indirect Costs Direct Costs J K L Direct Costs Direct Materials Direct Manufacturing Labor Enter the formula, then enter the budgeted manufacturing overhead and cost allocation bases to solve for the budgeted manufacturing overhead rate for each department. (Enter the percentage result as a whole percentage. Abbreviations used: manuf. = manufacturing, DM = direct manufacturing.) Budgeted manuf. overhead Budgeted cost allocation base = Budgeted manufacturing overhead rate Machining 41000 2100 19.52 per machine hour The Lawrence Company uses a normal job-costing system at its Minneapolis plant. The plant has a machining department and an assembly department. Its job-costing system has two direct-cost categories (direct materials and direct manufacturing labor) and two manufacturing overhead cost pools (the machining department overhead, allocated to jobs based on actual machine-hours, and the assembly department overhead, allocated to jobs based on actual direct manufacturing labor costs). The 2017 budget for the plant is as follows: : (Click the icon to view the budget data.) Read the requirements. Requirement 1. Identify the components of the overview diagram of Lawrence's job-costing system. Compute the budgeted manufacturing overhead rate for each department. (Abbreviations used: Manuf. = manufacturing.) i X * - Data Table Requirements X 1. Identify the components of the overview diagram of Lawrence's job-costing system. Compute the budgeted manufacturing overhead rate for each department During February, the job-cost record for Job 494 contained the following: 2. Manufacturing overhead Direct manufacturing labor costs Direct manufacturing labor-hours Machining Department Assembly Department 1,500,000 $ 3,900,000 $ 1,600,000 $ 3,000,000 120,000 280,000 30,000 280,000 Machine-hours Print Done Machining Department Assembly Department Direct material used 41,000 $ 75,000 Direct manufacturing labor costs 17,000 $ 19,000 Direct manufacturing labor- hours 1,000 1,300 Machine-hours 2,100 1,600 Compute the total manufacturing overhead costs allocated to Job 494. At the end of 2017, the actual manufacturing overhead costs were $2,200,000 in machining and $5,600,000 in assembly. Assume that 33,000 actual machine-hours were used in machining and that actual direct manufacturing labor costs in assembly were $3,100,000. Compute the over- or underallocated manufacturing overhead for each department. 3. Enter the percentag geted manufacturing overhead rate for each department. (Enter the percentage result as a whole Print Done head rate Choose from any list or enter any number in the input fields and then continue to the next question. Enter the formula, then enter the budgeted manufacturing overhead and cost allocation bases to solve for the budgeted manufacturing overhead rate for each department. (Enter the percentage result as a whole percentage. Abbreviations used: manuf. = manufacturing, DM = direct manufacturing.) 1 = Budgeted manufacturing overhead rate Machining Assembly Requirement 2. Review the February job-cost record for Job 494. Compute the total manufacturing overhead costs allocated to Job 494. (Abbreviations used: MOH = manufacturing overhead.) Enter the formula to calculate the manufacturing overhead to allocate to a job. = MOH allocated to job Compute the total manufacturing overhead costs allocated to Job 494. (do not round intermediary calculations.) MOH allocated to job Machining overhead Assembly overhead Total manufacturing costs allocated to job 494 Requirement 3. At the end of 2017, the actual manufacturing overhead costs were $2,200,000 in machining and $5,600,000 in assembly. Assume that 33,000 actual machine-hours were used in machining and that actual direct manufacturing labor costs in assembly were $3,100,000. Compute the over- or underallocated manufacturing overhead for each department. Enter the formula and compute the over- or underallocated manufacturing overhead for the year for each department. (Use parentheses or a minus sign to report manufacturing overhead overallocated. Abbreviations used: manuf. = manufacturing.) Choose from any list or enter any number in the input fields and then continue to the next question. Requirement 3. At the end of 2017, the actual manufacturing overhead costs were $2,200,000 in machining and $5,600,000 in assembly. Assume that 33,000 actual machine-hours were used in machining and that actual direct manufacturing labor costs in assembly were $3,100,000. Compute the over- or underallocated manufacturing overhead for each department. Enter the formula and compute the over- or underallocated manufacturing overhead for the year for each department. (Use parentheses or a minus sign to report manufacturing overhead overallocated. Abbreviations used: manuf. = manufacturing.) = Underallocated (Overallocated) Machining Assembly