"Blast it! said David Wilson, president of Teledex Company. "We've just lost the bid on the Koopers job by $3,000. It seems we're either too high to get the job or too low to make any money on half the jobs we bid. Teledex Company manufactures products to customers' specifications and operates a job order costing system. Manufacturing overhead cost is applied to jobs on the basis of direct labor cost. The following estimates were made at the beginning of the year: Department Direct labor Manufacturing overhead Fabricating $ 201,000 $ 351,750 Machining $ 100,500 $ 402,000 Assembly $ 301,500 $ 90,450 Total Plant $ 603,000 $ 844,200 Jobs require varying amounts of work in the three departments. The Koopers job, for example, would have required manufacturing costs in the three departments as follows: Department Direct materials Direct labor Manufacturing overhead Fabricating Machining Assembly Total Plant $ 3,100 $ 300 $ 1,500 $ 4,900 $ 3,000 $ 600 $ 6,300 $ 9,900 ? b. What would the bid price have been if departmental overhead rates had been used to apply overhead cost? Company's bid price $ 40,120 5. At the end of the year, the company assembled the following actual cost data relating to all jobs worked on during the year. Direct materials Direct labor Manufacturing overhead Department Cutting Machining $ 191,000 $ 16,100 211,000 109,000 $ 361,000 $ 421,000 Assembly $ 115,000 263,000 $ 85,000 Total plant $ 322,100 583,000 $ 867,000 a. Compute the underapplied or overapplied overhead for the year, assuming that a plantwide overhead rate is used. Overapplied overhead cost b. Compute the underapplied or overapplied overhead for the year, assuming that departmental overhead rates are used. (Enter overapplied overhead costs as negative amounts and underapplied overhead costs as positive amounts.) $ Fabricating Machining Assembly Overapplied overhead cost Overapplied overhead cost 8,250 15,000 Underapplied overhead cost L (6,100) 17,150 Total plant Overapplied overhead cost $ Drag the crosshair ov