TB Problem Qu. 2-277 Hultquist Corporation has two manufacturing .. Hultquist Corporation has two manufacturing departments-Forming and Customizing. The company used the following data at the beginning of the period to calculate predetermined overhead rates: Forming Customizing 7,000 $25,900 $ 2.50 Total 10,000 $33, 100 Estimated total machine-hours (MHs) Estimated total fixed manufacturing overhead cost Estimated variable manufacturing overhead cost per MH 358 3,000 $7,200 $ 5.00 During the period, the company started and completed two jobs-Job C and JobL. Data concerning those two jobs follow Job c $16,900 $10, 300 $23, 600 $10, 600 1,250 1,250 Job L Direct materials Direct labor cost Forming machine-hours Customizing machine-hours 5,750 1,750 Required: a. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate that overhead rate. (Round your answer to 2 decimal places.) b. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the amount of manufacturing overhead applied to Job L. (Do not round intermediate calculations.) c. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the total manufacturing cost assigned to Job L. (Do not round intermediate calculations.) d. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 20% on manufacturing cost to establish selling prices. Calculate the selling price for Job L. (Do not round intermediate markup of 20% on manufacturing cost to establish selling prices. Calculate the selling price for Job L. (Do not round intermediate calculations.) e. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments. What is the departmental predetermined overhead rate in the Forming department? (Round your answer to 2 decimal places.) f. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. What is the departmental predetermined overhead rate in the Customizing department? (Round your answer to 2 decimal places.) g. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. How much manufacturing overhead will be applied to Job L? (Do not round intermediate calculations.) h. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. Further assume that the company uses a markup of 20% on manufacturing cost to establish selling prices. Calculate the selling price for Job L. (Do not round intermediate calculations.) 40 Answer is not complete. per MH Predetermined overhead rate 24 6.56 la Manufacturing overhead applied $ 32,800 $ 53,700 S 64,440 O b. Manufacturing cost C. Selling price ld. per MH Forming predetermined overhead rate 9 25 e. per Customizing predetermined overhead rate t. MH Manufacturing overhead applied jobL 9. h. Selling price for job L
