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Moody Corporation uses a job-order costing system with a plantwide 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 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 Fixed manufacturing overhead cost 158,000 $658,000 Variable manufacturing overhead cost per machine-hour $ 4.60 Required: 1. Compute the predetermined overhead rate. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Predetermined overhead rate per MH 2. During the year, Job 400 was started and completed. The following information was available with respect to this job: Direct materials 340 $ requisitioned 290 Direct labor cost $ Machine-hours used 39 Compute the total manufacturing cost assigned to Job 400. (Do not round intermediate calculations and round final answer to 2 decimal places.) Total manufacturing cost 3- During the year the company worked a total of 145,800 machine-hours on all jobs a. and incurred actual manufacturing overhead costs of $1,279,208. What is the amount of underapplied or overapplied overhead for the year? (Use the overhead rate determined in requirement 1.) Manufacturing overhead underapplied by cost
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