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 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: 20 points Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour 160,000 $ 657,000 $ 4.10 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: Ask Direct materials Direct labor cost Machine-hours used $ 330 $ 220 37 Print References 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 130% 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 Required 2 Required 3 Required 4 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 1 Required 1 Required 2 Required 2 Required 3 required Required 4 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 1 Required 2 Required 3 Required 4 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 1 Required 2 Required 3 Required 4 If Moody uses a markup percentage of 130% 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.) 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