Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Opunui Corporation has two manufacturing departmentsMolding and Finishing. The companyr used the following data at the beginning ofthe year to calculate predetermined overhead rates: Molding
Opunui Corporation has two manufacturing departmentsMolding and Finishing. The companyr used the following data at the beginning ofthe year to calculate predetermined overhead rates: Molding Finishing Total Estimated total machine-hours (MHs) 6,588 3,586 16,888 Estimated total fixed manufacturing overhead cost $ 23,688 $ 4,686 $ 2?,688 Estimated variable manufacturing overhead cost per MH $ 2.88 $ 4.86 During the most recent month, the company started and completed two jobsJobA and Job M. There were no beginning inventories. Data concerning those two jobs follow: Job A Job M Direct materials $ 15,866 $ 9,588 Direct labor cost $ 22,866 $ 9,488 Molding machine-hours 2J 566 4,888 Finishing machinehours 2, 566 1,888 Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machinehours and uses a markup of 20% on manufacturing cost to establish selling prices. The calculated selling price for Job A is closest to: Note: Round your intermediate calculations to 2 decimal places
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