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Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates: Direct labor-hours required to support estimated

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Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates: Direct labor-hours required to support estimated production Machine-hours required to support estimated production Total manufacturing overhead cost 115,000 57,500 $713,000 During the year, Job 550 was started and completed. The following information is available with respect to this job: Direct materials Direct labor cost Direct labor-hours Machine-hours $ 252 $ 370 15 5 Required: 1. Assume that Landen has historically used a plantwide predetermined overhead rate with direct labor-hours as the allocation base. Under this approach: a. Compute the plantwide predetermined overhead rate. b. Compute the total manufacturing cost of Job 550. c. If Landen uses a markup percentage of 200% of its total manufacturing cost, what selling price would it establish for Job 5507 2. Assume that Landen's controller believes that machine-hours is a better allocation base than direct labor-hours. Under this approach: a. Compute the plantwide predetermined overhead rate. b. Compute the total manufacturing cost of Job 550. c. If Landen uses a markup percentage of 200% of its total manufacturing cost, what selling price would it establish for Job 550? (Round your intermediate calculations to 2 decimal places. Round your Predetermined Overhead Rate answers to 2 decimal places and all other answers to the nearest whole dollar.) per DLH 1. Direct labor-hours: Predetermined overhead rate Total manufacturing cost of Job 550 Selling price 2. Machine-hours: apredetermined overhead rate 6 Total manufacturing cost of Job 550 Selling price per MH Speedy Auto Repairs uses a job-order costing system. The company's direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics' hourly wages. Speedy's overhead costs include various items, such as the shop manager's salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room The company applies all of its overhead costs to jobs based on direct labor-hours. At the beginning of the year, it made the following estimates: Direct labor-hours required to support estimated output Total overhead cost 36,000 $ 576,000 Required: 1. Compute the predetermined overhead rate. 2. During the year, Mr. Wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. The following information was available with respect to his job: Direct materials Direct labor cost Direct labor-hours used $ 685 $ 153 7 Compute Mr. Wilkes' total job cost. 3. If Speedy establishes its selling prices using a markup percentage of 30% of its total job cost, then how much would it have charged Mr. Wilkes? Complete the question by entering your answers in the tabs given below. Required 1 Required 2 Required 3 Compute the predetermined overhead rate. (Round your answer to 2 decimal places.) Predetermined overhead rate per DLH Techuxia Corporation worked on four jobs during October: Job A256, Job A257. Job A258, and Job A260. At the end of October, the job cost sheets for these jobs contained the following data: Job Job Job Job A256 A257 A258 A260 $1,030 $ 500 $ 0$ 0 Beginning balance Charged to the jobs during October Direct materials Direct labor Manufacturing overhead applied Units completed Units in process at the end of October Units sold during October $2,750 $3,960 $1,600 $3,650 $1,240 $ 970 $ 520 $ 390 $1,508 $1,870 $1,824 $ 600 204 0 116 0 0 311 0 259 151 0 55 0 Jobs A256 and A258 were completed during October. The other two jobs had not yet been completed at the end of October. There was no finished goods inventory on October 1. In October, overhead was underapplied by $1,210. The company adjusts its cost of goods sold every month for the amount of the underapplied or overapplied overhead. Required: 1. Using the direct method, what is the cost of goods sold for October? Cost of goods sold 2. What is the total value of the finished goods inventory at the end of October? Total value of the finished goods 3. What is the total value of the work in process inventory at the end of October? Total value of the work in process

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