Answered step by step
Verified Expert Solution
Question
1 Approved Answer
problem 2-19 Multiple Predetermined Overhead Rates; Applying Overhead (LO2-4, LO2-2, L02-4) High Desert Potteryworks makes a variety of pottery products that it sells to retailers.
problem 2-19 Multiple Predetermined Overhead Rates; Applying Overhead (LO2-4, LO2-2, L02-4) 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 Direct labor-hours Molding Painting 32,500 56,200 Machine-hours 81,000 38,000 Fixed manufacturing overhead cost $170,100 $505,500 Variable manufacturing overhead per machine-hours 3.20 Variable manufacturing overhead per direct labor-hour - $ 5.20 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following formation concerning the job Department MoldingPainting Direct labor-hours Machine-hours Direct materials Direct labor cost 320 $948 $1,200 $ 740 5 930 Required: 1 Compute the predetermined overhead rates used in me Molding Department and the Ping Department 2. Compute the total overhead cost applied to job 205 What would be the total manufacturing con recorded for job 205 3- the job contained 34 u s what would be the unit product cost o
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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