Question

In: Accounting

Harootunian Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on...

Harootunian Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours 80,000 Total fixed manufacturing overhead cost $ 312,000 Variable manufacturing overhead per machine-hour $ 2.10 Recently, Job T629 was completed with the following characteristics: Number of units in the job 50 Total machine-hours 200 The estimated total manufacturing overhead is closest to what?

Solutions

Expert Solution

  • All working forms part of the answer
  • Requirement of the question: Total Estimated Manufacturing Overhead

A

Variable overhead per machine hour

$                       2.10

B

Total Machine hours

                     80,000

C = A x B

Total Estimated Variable Overhead

$          168,000.00

D

Total Fixed Overhead cost

$          312,000.00

E = C+D

Estimated Total Manufacturing Overhead

$          480,000.00

Answer = $ 480,000

  • Further Assistance [for understanding]

A

Estimated Total Manufacturing Overhead

$          480,000.00

B

Total Machine hours

                     80,000

C = A/B

Overhead per machine hours

$                       6.00

D

No. of machine hours for Job T629

                           200

E=C x D

Overhead assigned to Job T629

$              1,200.00

F

Total Units

                              50

G = E/F

Overhead per unit

$                    24.00


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