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:
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|
|
Machine-hours required to support estimated production |
| 157,000 |
Fixed manufacturing overhead cost | $ | 655,000 |
Variable manufacturing overhead cost per machine-hour | $ | 4.10 |
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:
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|
|
Direct materials | $ | 300 |
Direct labor cost | $ | 290 |
Machine-hours used |
| 33 |
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?
x Answer is complete but not entirely correct. 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 $ 8.35 x per * Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the total manufacturing cost assigned to Job 400. (Round your intermediate calculati your final answer to the nearest dollar amount.) Total manufacturing cost C
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