Answered step by step
Verified Expert Solution
Link Copied!

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 made

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: Machine-hours required to support estimated production 160,000 Fixed manufacturing overhead cost $ 659,000 Variable manufacturing overhead cost per machine-hour $ 4.50 Required: Compute the plantwide predetermined overhead rate. During the year, Job 400 was started and completed. The following information was available with respect to this job: Direct materials $ 400 Direct labor cost $ 230 Machine-hours used 34 Compute the total manufacturing cost assigned to Job 400. If Job 400 includes 50 units, what is the unit product cost for this job? 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 1 Predetermined overhead rate

Required 2 total manufacturing cost?

Required 3 Unit Product Cost

Required 4 Selling price Per unit ?

Compute the plantwide predetermined overhead rate.

Note: Round your answer to 2 decimal places.

Predetermined overhead rate per MH

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

More Books

Students also viewed these Accounting questions