Answered step by step
Verified Expert Solution
Question
1 Approved Answer
req1&2 High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company uses a job order costing system in which
req1&2
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 35,500 57.100 Machine-hours 83,000 32,000 Fixed manufacturing overhead cost $ 232,400 $ 531,030 Variable manufacturing overhead per nachine-hour $ 2.40 Variable manufacturing overhead per direct labor-hour $ 4.40 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following information concering the job: 133 Direct labor-hours Machine-hours Direct materials Direct Labor cost Department Molding Painting 83 380 74 $938 $ 1,220 $ 740 $ 960 Required: 1. Compute the predetermined overhead rates used in the Molding Department and the Painting Department 2. Compute the total overhead cost applied to Job 205 3. What would be the total manufacturing cost recorded for Job 205? 3-b. If the job contained 33 units, what would be the unit product cost? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 38 Compute the predetermined Overhead Rates used in the Molding Department and the Painting Department. (Round your answers to 2 decimal places.) Predetermined Ovethead Rate Molding Department Painting Department per MH per DLH Feed Required 2 > 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 Direct labor-hours Painting 35,500 Machine-hours 32.000 Fixed manufacturing overhead cost $ 232,400 $ 531,00 Variable manufacturing overhead per machine-hour $ 2.40 Variable manufacturing overhead per direct labor-hour 5.4.40 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following information concerning the job: 57,100 83,000 Direct labor-hours Machine-hours Direct materials Direct labor cost Department Holding Painting 83 133 380 14 5938 $1,220 $ 740 $ 960 Required: 1. Compute the predetermined overhead rates used in the Molding Department and the Painting Department 2. Compute the total overhead cost applied to Job 205 3-a. What would be the total manufacturing cost recorded for Job 2052 3-b. If the job contained 33 units, what would be the unit product cost? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 38 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.) Totul owaithead cost 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