Solve the five questions from picture 1 using the work from pictures 2-3
(picture 1)
(picture 2-3)
Calculate the total Finishing department overhead applied to Job 203. QUESTION 2 If a single plant-wido overhead rate based on direct labor hours was used to allocate overhead and total estimaled overhead was $846,000, calculate the predetermined overhead rate. Round your answer to two decimal places. QUESTION 3 Is a single plant-wide overhead rate appropriate to use in this company? A. Yes B. No QUESTION 4 Calculate the total Cutting department overhead applied to Job 203. QUESTION 5 Calculate the total estimated overhead for the Cutting department. Exercise 2-12 Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: Required: 1. Compute the plantwide predetermined overhead rate. 2. During the year, Job 400 was started and completed. The following information was avallable with respect to this job: Compute the total manufacturing cost assigned to Job 400 . 3. If Job 400 includes 52 units, what is the unit product cost for this job? 4. If Moody uses a markup percentage of 120% of its total manufacluring cost, then what solling price per unit would it have established for Job 400 ? 1. Compute the plantwide predetermined overhead rate. (Round your answer to 2 decimal places.) Estimated variable manufacturing overhead =3100,000=$300,000 Estimated total manufacturing overhead cost =$300,000+$650,000=$950,000 Predetermined overhead rate =$950,000/100,000=9.50 per MH 2. Compute the total manufacturing cost assigned to Job 400 . (Round intermediate calculations to 2 decimal places and final answer to the nearest dollar amount.) 450+210+40(9.50)=$1040 3. If Job 400 includes 52 units, what is the unit product cost for this job? 1040/52=20 4. If Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would it have established for Job 400 ? \begin{tabular}{|l|l|} \hline Selling price per unit & $44 \\ \hline \end{tabular} Total manufacturing cost =$1040 Markup percentage =$1040120%=$1248 selling point =$1040+$1248=$2288 number of units =52 selling price per unit =$2288152=44 Total Applied Overhead to Job 203=$924 Calculate the total Finishing department overhead applied to Job 203. QUESTION 2 If a single plant-wido overhead rate based on direct labor hours was used to allocate overhead and total estimaled overhead was $846,000, calculate the predetermined overhead rate. Round your answer to two decimal places. QUESTION 3 Is a single plant-wide overhead rate appropriate to use in this company? A. Yes B. No QUESTION 4 Calculate the total Cutting department overhead applied to Job 203. QUESTION 5 Calculate the total estimated overhead for the Cutting department. Exercise 2-12 Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: Required: 1. Compute the plantwide predetermined overhead rate. 2. During the year, Job 400 was started and completed. The following information was avallable with respect to this job: Compute the total manufacturing cost assigned to Job 400 . 3. If Job 400 includes 52 units, what is the unit product cost for this job? 4. If Moody uses a markup percentage of 120% of its total manufacluring cost, then what solling price per unit would it have established for Job 400 ? 1. Compute the plantwide predetermined overhead rate. (Round your answer to 2 decimal places.) Estimated variable manufacturing overhead =3100,000=$300,000 Estimated total manufacturing overhead cost =$300,000+$650,000=$950,000 Predetermined overhead rate =$950,000/100,000=9.50 per MH 2. Compute the total manufacturing cost assigned to Job 400 . (Round intermediate calculations to 2 decimal places and final answer to the nearest dollar amount.) 450+210+40(9.50)=$1040 3. If Job 400 includes 52 units, what is the unit product cost for this job? 1040/52=20 4. If Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would it have established for Job 400 ? \begin{tabular}{|l|l|} \hline Selling price per unit & $44 \\ \hline \end{tabular} Total manufacturing cost =$1040 Markup percentage =$1040120%=$1248 selling point =$1040+$1248=$2288 number of units =52 selling price per unit =$2288152=44 Total Applied Overhead to Job 203=$924
