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I need help understanding the correct equations to figure out these answers. It's a hard chapter for me and I can't grasp it right. If
I need help understanding the correct equations to figure out these answers. It's a hard chapter for me and I can't grasp it right. If you give answers can you please show how you got them with explanation.
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: Direct labor-hours Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Department Molding Painting 39,000 58,800 81,000 31,000 $ 251,100 $ 523,320 $ 2.60 0 0 $ 4.60 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-hours Direct materials Direct labor cost Department Molding Painting 71 131 360 70 $ 936 $ 1,220 $ 700 $ 1,000 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 205? 3-b. If the job contained 37 units, what would be the unit product cost? X Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 3B Compute the Predetermined Overhead Rates used in the Molding Department and the Painting Department. (Round your answers to 2 decimal places.) Molding Department Painting Department Predetermined Overhead Rate $ 5.70 per MH $ 16.88 X per DLH X Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 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 $ 3,234 X Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 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.) Total Direct materials Direct labor Molding Painting Department Department $ 936 $ 1,220 $ 700 1,000 2,050 x 1,182 X $ 3,686 $ 3,402 $ 2,156 1,700 3,232 7,088 Manufacturing overhead Total cost Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 3B If the job contained 37 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 $ 191.57 x per unitStep by Step Solution
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