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 production159,000Fixed manufacturing overhead cost$ 654,000Variable manufacturing overhead cost per machine-hour$ 4.30Required:
- Compute the plantwide predetermined overhead rate.
- During the year, Job 400 was started and completed. The following information pertains to this job:
Compute the total manufacturing cost assigned to Job 400.
- If Job 400 includes 50 units, what is its unit product cost?
- If Moody uses a markup percentage of 130% of its total manufacturing cost, then what selling price per unit would it establish for Job 400?
Answers needed:
Required 1: Predetermined overhead rate ________ Per MH
Required 2: Compute the total manufacturing cost assigned to Job 400.
Total manufacturing cost _______
Required 3: If Job 400 includes50 units, what is its unit product cost?
Unit Product Cost ______
Required 4: If Moody uses a markup percentage of 130% of its total manufacturing cost, then what selling price per unit would it establish for Job 400?
Selling price per unit ________
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