Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

picture 1 retaken High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company uses a job-order costing system in

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
picture 1 retaken image text in transcribed
High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company uses a job-order costing system in which departmental predetermined overhead rates are used to apply manufacturing overhead cost to jobs. The predetermined overhead rate in the Molding Department is based on machine-hours, and the rate in the Painting Department is based on direct labor- hours. At the beginning of the year, the company provided the following estimates. Department Molding Painting Direct labor-hours 39,500 57,600 Machine-hours 16,00 Fixed Manufacturing overhead cost $215,000 5847,200 Variable manufacturing overhead per machine-hour $ 2.80 Variable manufacturing overhead per direct labor hour 4.30 32.000 $ Complete this question by entering your answers in the tabs below. Reg 1 Req 2 Reg 3A Req 3B Compute the Predetermined Overhead Rates used in the Molding Department and the Painting Department. (Round your answers to 2 decimal places.) Predetermined Overhead Rate Molding Department per MH Painting Department per DLH Req2 > Complete this question by entering your answers in the tabs below. Req 1 Reg 2 Req 3A Req 3B Compute the total overhead cost applied to Job 205. (Round "Predetermined overhead rate" to 2 decimal places. Round other intermediate calculations and final answers to the nearest dollar amount.) Total Overhead cost Req 1 Reg 2 Reg 3A Reg 3B What would be the total manufacturing cost recorded for Job 205? (Round "Predetermined overhead rate" to 2 decimal places. Round other intermediate calculations and final answers to the nearest dollar amount.) Department Molding Painting Total Direct materials Direct labor Manufacturing overhead Total cost Reg 1 Reg 2 Req 3A Reg 3B If the job contained 31 units, what would be the unit product cost? (Round "Predetermined overhead rate" to 2 decimal places. Round other intermediate calculations to the nearest dollar amount. Round your final answer to 2 decimal places.) Unit product cost per unit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Financial Reporting

Authors: Alan Melville

7th Edition

1292293128, 9781292293127

More Books

Students also viewed these Accounting questions

Question

Calculate a utility estimate for a target organization

Answered: 1 week ago