Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Return to 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 Direct labor-hours Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor.hour Department Molding Painting 36,500 58,700 34.000 31,000 $134,400 $516 $ 5.20 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following information concerning the job Department Holding Painting Direct labor. hours Machine hours Direct materials Direct labor cost 595 $1200 2009 Return 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 205? 3-b. If the job contained 39 units, what would be the unit product cost? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below ! Reg 1 Reg 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 Painting Department 1.82400 1.425 60 per MH per DLH Reg 2 > 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 205? 3-b. If the job contained 39 units, what would be the unit product cost? * Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Reg 1 Regler Reg 3A Reg 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 $ 3.250 X Return to 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 205? 3-b. If the job contained 39 units, what would be the unit product cost? pints Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Reg 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.) Total Department Molding Painting 938 $ 1.200 730 1824 14266 3.492 $ 3.606 980 Direct materials Direct labor Manufacturing overhead Total cost 1710 3.250 S 7098 Y . 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 205? 3-b. If the job contained 39 units, what would be the unit product cost? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Req 1 Reg 2 Req 3A Reg 3B If the job contained 39 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 S 182.00 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

Financial Accounting

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, J. Mather

8th Edition

0470929383, 978-0470929384

More Books

Students also viewed these Accounting questions