Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Janicki Corporation has two manufacturing departments--Machining and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates:

image text in transcribed

Janicki Corporation has two manufacturing departments--Machining and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Estimated total machine-hours (MHS) Estimated total fixed manufacturing overhead cost Estimated variable manufacturing overhead cost per MH Machining 1,000 $ 4,800 $ 1.10 Customizing 9,000 $ 23,400 $ 2.50 Total 10,000 $ 28,200 During the most recent month, the company started and completed two jobs--Job A and Job J. There were no beginning inventories. Data concerning those two jobs follow: Direct materials Direct labor cost Machining machine-hours Customizing machine-hours JobA $12,000 $20,700 700 3,600 Job J $7,700 $6,400 300 5,400 Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 50% on manufacturing cost to establish selling prices. The calculated selling price for Job Jis closest to: (Round your intermediate calculations to 2 decimal places.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditor Essentials 100 Concepts Tips Tools And Techniques For Success

Authors: Hernan Murdock

1st Edition

1138036919, 978-1138036918

More Books

Students also viewed these Accounting questions