The Solomon Company uses a job-costing system at its Dover, Delaware, plant. The plant has a machining department and a finishing department. Solomon uses normal costing with two direct-cost categories (direct materials and direct manufacturing labor) and two manufacturing overhead cost pools (the machining department with machine-hours as the allocation base and the finishing department with direct manufacturing labor costs as the allocation base). The 2017 budget for the plant is as follows: (Click the icon to view the 2017 budget.) Read the requirements Requirement 1. Identify the components of the overview diagram of Solomon's job-costing system. (Abbreviations used: Manuf. = Manufacturing.) A } B C B D D F E F H G G } H | 1 J J K K L L Requirements 1. Identify the components of the overview diagram of Solomon's job-costing system. 2. What is the budgeted manufacturing overhead rate in the machining department? In the finishing department? 3. During the month of January, the job-cost record for Job 431 shows the following: Machining Department Finishing Department Direct materials used $ 16,150 $ 3,000 Direct manufacturing labor costs $ 350 $ 1,300 Direct manufacturing labor-hours 30 50 Machine-hours 150 20 Compute the total manufacturing overhead cost allocated to Job 431. 4. Assuming that Job 431 consisted of 400 units of product, what is the cost per unit? 5. Amounts at the end of 2017 are as follows: Machining Department Finishing Department Manufacturing overhead incurred $ 13,250,000 $ 8,400,000 Direct manufacturing labor costs $ 1,000,000 $ 4,300,000 Machine-hours 250,000 30,000 Compute the under-or overallocated manufacturing overhead for each department and for the Dover plant as a whole. 6. Why might Solomon use two different manufacturing overhead cost pools in its job-costing system? Print Done - - X Data Table Manufacturing overhead costs Direct manufacturing labor costs Direct manufacturing labor-hours Machine-hours Machining Department $ 10,660,000 $ 970,000 26,000 205,000 Finishing Department $ 8,000,000 $ 4,000,000 160,000 31,000 Print Done