Question
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.
|
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