Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Kluth Corporation has two manufacturing departments --Molding and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead

image text in transcribed
Kluth Corporation has two manufacturing departments --Molding and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Estimated total machine-hours (MS) Estimated total fixed manufacturing overhead coat Estimated variable manufacturing overhead cost per MH. Molding Customizing Total 14,000 2,900 16,900 $35,000 $8,990 $43,990 $ 2.00 $ 6.00 During the most recent month, the company started and completed two jobs-Job C and Job M. There were no beginning inventories. Data concerning those two jobs follow: Direct materials Direct labor coat Molding machine-hours Customizing machine-hours Job C $16,000 $22,700 1,250 2,400 Job M $ 9.400 $ 9,700 12.750 500 Required: Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. Further assume that the company uses a markup of 20% on manufacturing cost to establish selling prices. Calculate the selling prices for Job C and for Job M. (Do not round Intermediate calculations.) Selling price for Job C Selling price for Job M

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Accounting Principles

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

12th edition

1119132223, 978-1-119-0944, 1118875052, 978-1119132226, 978-1118875056

Students also viewed these Accounting questions

Question

Python program CSV file to store data in an array in a variable

Answered: 1 week ago

Question

Explain the pages in white the expert taxes

Answered: 1 week ago