newconnect hestation.com - Un Connect Summer 2000 Ch 2 & 3 Graded Homework 2 & 3 Geaded Homework Help From 2-10 rawie Freuvemu uvernua Raws, Pricing [LUZI, LUZ-4, LU 2-S Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates: Direct labor-hours required to support estimated production Machine-hours requtred to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per direct labor-hour Variable manufacturing overhead cost per machine-hour 95,000 47,500 5266,00 $ 2.60 During the year, Job 550 was started and completed. The following information is available with respect to this job: Book Direct materiais Direct labor cost Direct labor-hours Machine-hours $ 273 $ 237 5 Required: 1. Assume that Landen has historically used a plantwide predetermined overhead rate with direct labor-hours as the allocation base. Under this approach a. Compute the plantwide predetermined overhead rate, b. Compute the total manufacturing cost of Job 550. c. If Landen uses a markup percentage of 200% of its total manufacturing cost, what selling price would it establish for Job S50? 2. Assume that Landen's controller believes that machine-hours is a better allocation base than direct labor-hours. Under this approach Compute the plantwide predetermined overhead rate. b. Compute the total manufacturing cost of Job 550. c. If Landen uses a markup percentage of 200% of its total manufacturing cost, what selling price would it establish for Job 550? (Round your intermediate calculations to 2 decimal places. Round your "Predetermined Overhead Rate" answers to 2 decimal places and all other answers to the nearest whole dollar) 1. Drect labor-hours MacBook Pro And You $ 4 2 3 % 5 6 & 7 00 9 W E R T Y U 1 0 P S D F I J K L