The Lowel Company uses a normal job-costing systom at its Minneapolis plant. The plant has a machining depariment and an assembly department its job-costing system has two direct-cost. categories (direct maserials and diect manufacturing labor) and two manufacturing overhoad cost pools (the machining department overhead, allocatod to jobs based on actual machine-hours, and the assembly department overhead, alocaled to jobs based on actual divect manufacturing labor costs). The 2017 budget for the plant is as follows: (Click the icon lo viow the budget data.) Read the equirements. Requirement 1. Identify the components of the overview dagram of Lowerls job-costing system. Compute the budgeted manufacturing overhead rate for each department. (Abbroviaticnt ised) Manil, = manufactiring Data table overhead rate fo 1. Identify the components of the overview diagram of Lowell's job-costing system. Compute the budgeted manufacturing overhead rate for each department. 2. During February, the job-cost record for Job 494 contained the following: Compute the total manufacturing overhead costs allocated to Job 494. 3. At the end of 2017, the actual manufacturing overhead costs were $1,900,000 in machining and $5,500,000 in assembly. Assume that 54,000 actual machine-hours were used in machining and that actual direct manufacturing labor costs in assembly were $3,100,000. Compute the over- or underallocated manufacturing overhead for each department. Enter the formula, then enter the budgeled manufacturing overhead and cost allocation bases to solve for the budgeted manufocturing overtead rate for each department, (Enter the percontage resuit as a wholo percentage. Abbreviations used: manul, = manufacturing. DM = divect manufacturing ) Enser the formula to calculate the manulacturing overtead to allocate to a fob. Compute the total manutacturing overthead costs alocated to Job 494 . (do not round interredary calculations) Requirement 3. At the end of 2017, the actual manutacturing overhead costs were $1,900.000 in machining and 55,500,000 in astembly Assume that 54,000 actual machire hours were Gied in oweralocated. Abbreviatons used mandi is mardactiong ) Requirement 3. Al the end of 2017, the actual manufacturing ovechead costs were $1,900,000 in machining and 35,500,000 in assembly Assume that 54,000 actual machine-hours were used in mactining and that actual drect manutscturing labor costs in stsembly were $3,100,000. Compute the over- or underallocated manufacturing overhead for each departinant overatocated. Abbrevitiont uted manul = mantacturing) The Lowel Company uses a normal job-costing systom at its Minneapolis plant. The plant has a machining depariment and an assembly department its job-costing system has two direct-cost. categories (direct maserials and diect manufacturing labor) and two manufacturing overhoad cost pools (the machining department overhead, allocatod to jobs based on actual machine-hours, and the assembly department overhead, alocaled to jobs based on actual divect manufacturing labor costs). The 2017 budget for the plant is as follows: (Click the icon lo viow the budget data.) Read the equirements. Requirement 1. Identify the components of the overview dagram of Lowerls job-costing system. Compute the budgeted manufacturing overhead rate for each department. (Abbroviaticnt ised) Manil, = manufactiring Data table overhead rate fo 1. Identify the components of the overview diagram of Lowell's job-costing system. Compute the budgeted manufacturing overhead rate for each department. 2. During February, the job-cost record for Job 494 contained the following: Compute the total manufacturing overhead costs allocated to Job 494. 3. At the end of 2017, the actual manufacturing overhead costs were $1,900,000 in machining and $5,500,000 in assembly. Assume that 54,000 actual machine-hours were used in machining and that actual direct manufacturing labor costs in assembly were $3,100,000. Compute the over- or underallocated manufacturing overhead for each department. Enter the formula, then enter the budgeled manufacturing overhead and cost allocation bases to solve for the budgeted manufocturing overtead rate for each department, (Enter the percontage resuit as a wholo percentage. Abbreviations used: manul, = manufacturing. DM = divect manufacturing ) Enser the formula to calculate the manulacturing overtead to allocate to a fob. Compute the total manutacturing overthead costs alocated to Job 494 . (do not round interredary calculations) Requirement 3. At the end of 2017, the actual manutacturing overhead costs were $1,900.000 in machining and 55,500,000 in astembly Assume that 54,000 actual machire hours were Gied in oweralocated. Abbreviatons used mandi is mardactiong ) Requirement 3. Al the end of 2017, the actual manufacturing ovechead costs were $1,900,000 in machining and 35,500,000 in assembly Assume that 54,000 actual machine-hours were used in mactining and that actual drect manutscturing labor costs in stsembly were $3,100,000. Compute the over- or underallocated manufacturing overhead for each departinant overatocated. Abbrevitiont uted manul = mantacturing)
