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I only need requirement 5 answered please! The Maclin Company uses a job-costing system at its Dover, Delaware, plant. The plant has a machining department
I only need requirement 5 answered please!
The Maclin Company uses a job-costing system at its Dover, Delaware, plant. The plant has a machining department and a finishing department. Maclin uses normal costing with two direct-cost categories (direct materials and direct manufacturing labor) and two manufacturing overhead cost pools (the machining department with machine-hours as the allocation base and the finishing department with direct manufacturing labor costs as the allocation base). The 2017 budget for the plant is as follows: Machining Department $ 10,000,000 $ 970,000 Finishing Department $ 8,405,000 $ 4,100,000 Manufacturing overhead costs Direct manufacturing labor costs Direct manufacturing labor-hours Machine-hours 26,000 145,000 200,000 32,000 Requirement 2. What is the budgeted manufacturing overhead rate in the machining department? In the finishing department? Determine the formula, then compute the budgeted overhead rates for the machining department and finishing department. Allocation base Budgeted overhead rate Budgeted manufacturing overhead / $ 10,000,000 200,000 $ 50 Machining Finishing $ 8,405,000 1 $ 4,100,000 205 % Requirement 3. During the month of January, the job-cost record for Job 431 shows the following: B (Click the icon to view the job-cost record for Job 431.) Compute the total manufacturing overhead cost allocated to Job 431. (Round your answers to the nearest cent, "X.XX".) Machining department overhead $ 5,500.00 2,870.00 Finishing department overhead $ 8,370.00 Total manufacturing overhead allocated Finishing Department Machining Department $ 12,000 $ 3,000 $ 500 $ 1,400 Direct materials used Direct manufacturing labor costs Direct manufacturing labor-hours Machine-hours 20 40 110 20 Requirement 4. Assuming that Job 431 consisted of 300 units of product, what is the cost per unit? Calculate the cost per unit. (Round your answer to the nearest cent, "X.XX".) Total job costs / Units of product II Cost per unit 84.23 $ 25,270.00 / 300 $ Requirement 5. Amounts at the end of 2017 are as follows: Click the icon to view the amounts at the end of 2017.) Compute the under- or overallocated manufacturing overhead for each department and for the Dover plant as a whole. (Use parentheses or a minus sign for overallocated manufacturing overheads.) Machining Department $ 11,400,000 Manufacturing overhead incurred Finishing Department $ 8,820,000 $ 4,400,000 31,000 Direct manufacturing labor costs $ 980,000 Machine-hours 230,000 Manufacturing overhead incurred Machining Department 11,400,000 11,500,000 Finishing Department 8,820,000 9,020,000 Manufacturing overhead allocated (100000) (200000) Department underallocated (overallocated) Total underallocated (overallocated) (300000)Step by Step Solution
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