Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I just need Req 1 completed!!! High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company uses a job-order
I just need Req 1 completed!!!
High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company uses a job-order costing system in which departmental predetermined overhead rates are used to apply manufacturing overhead cost to jobs. The predetermined overhead rate in the Molding Department is based on machine hours, and the rate in the Painting Department is based on direct labor- hours. At the beginning of the year, the company provided the following estimates: Department Molding Painting Direct Labor-hours 34,500 55,000 Machine-hours B4,000 37,000 Pixed manufacturing overhead coat $184,800 $478,500 Variable manufacturing overhead per machine-hour $ 3.00 Variable manafacturing overhead per direct labor-hour $ 5.00 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following information concerning the job: Direct Labor-hours Machine-hors Direct materiale Direct Labor cost _ Department Molding Painting 74 134 330 69 $ 936 $1,200 $ 720 $1,020 Required: 1. Compute the predetermined overhead rates used in the Molding Department and the Painting Department. 2. Compute the total overhead cost applied to Job 205. 3-a. What would be the total manufacturing cost recorded for Job 2057 3-b. If the job contained 20 units, what would be the unit product cost? Complete this question by entering your answers in the tabs below. Req1 Req 2 Req3A Reg 3B Compute the Predetermined Overhead Rates used in the Molding Department and the Painting Department. (Round your answers to 2 decimal places.) Predetermined Overhead Rate Molding Department per MH Painting Department per DLH R1 Reg 1 Req 2 Req Reg 3B Compute the total overhead cost applied to Job 205. (Round "Predetermined overhead rate" to 2 decimal places. Round other intermediate calculations and final answers to the nearest dollar amount.) Total overhead cost Req 1 Reg 2 Req Reg 3B What would be the total manufacturing cost recorded for Job 205? (Round "Predetermined overhead rate" to 2 decimal places. Round other intermediate calculations and final answers to the nearest dollar amount.) Department Molding Painting Total Direct materials Direct labor Manufacturing overhead Req 1 Reg 2 Reg 3 Req 3B If the job contained 20 units, what would be the unit product cost? (Round "Predetermined overhead rate" to 2 decimal places. Round other intermediate calculations to the nearest dollar amount. Round your final answer to 2 decimal places.) Unit product cost per unitStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started