Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine- hours. At the beginning of the year, the company
Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine- hours. At the beginning of the year, the company made the following estimates: 20 points Skipped Machine-hours required to support estimated 158.000 production Fixed manufacturing overhead cost $654,000 Variable manufacturing overhead cost per S 4.50 machine-hour eBook Required: 1. Compute the plantwide predetermined overhead rate. 2. During the year, Job 400 was started and completed. The following information was available with respect to this job: Print References Direct materials $380 Direct labor cost $300 Machine-hours used 33 Compute the total manufacturing cost assigned to Job 400. 3. If Job 400 includes 60 units, what is the unit product cost for this job? 4. If Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would it have established for Job 400? Complete this question by entering your answers in the tabs below. Required Required Required Required Compute the plantwide predetermined overhead rate. (Round your answer to 2 decimal places) Predetermined overhead rate per MH Required 1 Required 2 > Complete this question by entering your answers in the tabs below. Required Required Required Required 3 | Compute the total manufacturing cost assigned to Job 400. (Round your intermediate calculations to 2 decimal places and your final answer to the nearest dollar amount.) Total manufacturing cost Complete this question by entering your answers in the tabs below. Required Required Required Required If Job 400 includes 60 units, what is the unit product cost for this job? (Round your intermediate calculations and final answer to the nearest whole dollar.) Unit product cost Complete this question by entering your answers in the tabs below. Required Required Required Required 4 If Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would it have established for Job 400? (Round your intermediate calculations and final answer to the nearest whole dollar.) Show less Selling price per unit
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started