QUESTION 11 Stockmaster Corporation has two manufacturing departments--Forming and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Forming Assembly Total Estimated total machine-hours (MHs) Estimated total fixed manufacturing overhead cost Estimated variable manufacturing overhead cost per MH 1.10 5,000 10,50 0 2.80 10,00 0 37,50 0 5,000 27,00 0 During the most recent month, the company started and completed two jobs--Job C and Job H. There were no beginning inventories. Data concerning those two jobs follow: Job H 0 $7,500 0 $7,800 Job C Direct materials Direct labor cost Forming machine-hours 11,20 21,90 3,400 1,600 3,000 Assembly machine-hours 2,000 Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 40% on manufacturing cost to establish selling prices. The calculated selling price for Job C is closest to: $62,980 $88,172 $25,192 $96,989