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 (POHR) 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 (POHR) 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 Variable manufacturing overhead cost per machine-hour 150,000 $653,000 4.98 This is a great "review problem" with several requirements that allows you to see the complete process from computing the POHR at the begining of the period to establishing the sales price on a sprecific job Required: 1. Compute the plantwide predetermined overhead rate (POHR). 2. During the year, Job 400 was started and completed. The following information was available with respect to this job: Direct materials Direct labor cost Machine-hours used $340 $210 37 Compute the total manufacturing cost assigned to Job 400. 3. If Job 400 includes 50 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 Variable manufacturing overhead cost per machine-hour 4.90 This is a great "review problem" with several requirements that allows you to see the complete process from computing the POHR at the begining of the period to establishing the sales price on a specific job. Required: 1. Compute the plantwide predetermined overhead rate (POHR). 2. During the year, Job 400 was started and completed. The following information was available with respect to this job: Direct materials Direct labor cost Machine-hours used $340 $210 37 Compute the total manufacturing cost assigned to Job 400. 3. If Job 400 includes 50 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 Required 3 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 Check 3 Variable manufacturing overhead cost per machine-hour points Shipped Book Print $ 4.90 This is a great "review problem with several requirements that allows you to see the complete process from computing the POHR at the begining of the period to establishing the sales price on a specific job Required: 1. Compute the plantwide predetermined overhead rate (POHR) 2. During the year, Job 400 was started and completed. The following information was available with respect to this job Direct materials Direct labor cost Machine-hours used $340 $210 37 Compute the total manufacturing cost assigned to Job 400. 3. If Job 400 includes 50 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 If Job 400 includes 50 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 Required: 1. Compute the plantwide predetermined overhead rate (POHR). sprite on a sprecific job. 2. During the year, Job 400 was started and completed. The following information was available with respect to this job: Direct materials Direct labor cost Machine-hours used $340 $210 37 Compute the total manufacturing cost assigned to Job 400. 3. If Job 400 includes 50 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 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