Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

L High Desert Pottepowocks makes a variety of pottery products that it sells to retailers. The company uses a job-order costing system in which departmental

image text in transcribed
image text in transcribed
L High Desert Pottepowocks 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 38,000 Direct labor-hours Machine-hours 50,600 83,000 36,000 Fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour $174,300 $490,820 $2.60 Variable manufacturing overhead per direct labor-hour $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: Department MoldingPainting 78 Direct labor-hours Machine-hours 133 380 69 Direct materials $948 $1,160 $730 $1,010 Direct labor cost 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 23 units, what would be the unit product cost? I > > L 1. Compute the Predetermined Overhead Rates used in the Molding Department and the Painting Department. (Round your answers to 2 decimal places) Predalonnined Overhood tate Molding Department per MH Painting Department per DLH 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.) 2. Total overhead co 3. 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.) Copartment Malding Palnr Toba Direct materials Direct labor Manufacturing overhead Total cost 4. If the job contained 23 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 rdut.co per unit Foc DAGE

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

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

The Access Audit Handbook An Inclusive Approach To Auditing Buildings

Authors: Centre For Accessible Environments

3rd Edition

1914124839, 978-1914124839

More Books

Students also viewed these Accounting questions