Question
In: Accounting
Kluth Corporation has two manufacturing departments--Molding and Customizing. The company used the following data at the...
Kluth Corporation has two manufacturing departments--Molding and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates:
| Molding | Customizing | Total | ||||
| Estimated total machine-hours (MHs) | 14,000 | 2,900 | 16,900 | |||
| Estimated total fixed manufacturing overhead cost | $ | 35,000 | $ | 8,990 | $ | 43,990 |
| Estimated variable manufacturing overhead cost per MH | $ | 2.00 | $ | 6.00 | ||
During the most recent month, the company started and completed two jobs--Job C and Job M. There were no beginning inventories. Data concerning those two jobs follow:
| Job C | Job M | |||
| Direct materials | $ | 16,000 | $ | 9,400 |
| Direct labor cost | $ | 22,700 | $ | 9,700 |
| Molding machine-hours | 1,250 | 12,750 | ||
| Customizing machine-hours | 2,400 | 500 | ||
Required:
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 prices for Job C and for Job M. (Do not round intermediate calculations.)
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Kluth Corporation has two manufacturing departments--Molding and Customizing. The company used the following data at the...
Kluth Corporation has two manufacturing departments--Molding and
Customizing. The company used the following data at the beginning
of the year to calculate predetermined overhead rates:
Molding
Customizing
Total
Estimated total machine-hours (MHs)
6,000
2,300
8,300
Estimated total fixed manufacturing overhead cost
$
15,000
$
8,740
$
23,740
Estimated variable manufacturing overhead cost per MH
$
2.50
$
2.00
During the most recent month, the company started and completed
two jobs--Job C and Job M. There were no beginning inventories.
Data...
Kluth Corporation has two manufacturing departments--Molding and Customizing. The company used the following data at the...
Kluth Corporation has two manufacturing departments--Molding and
Customizing. The company used the following data at the beginning
of the year to calculate predetermined overhead rates:
Molding
Customizing
Total
Estimated total machine-hours (MHs)
9,000
2,600
11,600
Estimated total fixed manufacturing overhead cost
$
36,000
$
9,360
$
45,360
Estimated variable manufacturing overhead cost per MH
$
2.50
$
5.00
During the most recent month, the company started and completed
two jobs--Job C and Job M. There were no beginning inventories.
Data...
1. Kluth Corporation has two manufacturing departments--Molding and Customizing. The company used the following data at...
1. Kluth Corporation has two manufacturing
departments--Molding and Customizing. The company used the
following data at the beginning of the year to calculate
predetermined overhead rates:
Molding
Customizing
Total
Estimated total machine-hours (MHs)
14,000
1,800
15,800
Estimated total fixed manufacturing overhead cost
$
35,000
$
5,040
$
40,040
Estimated variable manufacturing overhead cost per MH
$
2.00
$
4.00
During the most recent month, the company started and completed
two jobs--Job C and Job M. There were no beginning inventories....
Ronson Corporation has two manufacturing departments--Casting and Customizing. The company used the following data at the...
Ronson Corporation has two manufacturing departments--Casting
and Customizing. The company used the following data at the
beginning of the year to calculate predetermined overhead
rates:
Casting
Customizing
Total
Estimated total
machine-hours (MHs)
5,000
5,000
10,000
Estimated total fixed
manufacturing overhead cost
$
27,500
$
10,500
$
38,000
Estimated variable
manufacturing overhead cost per MH
$
1.70
$
2.60
During the most recent month, the company started and completed
two jobs--Job C and Job G. There were no beginning inventories.
Data...
Hultquist Corporation has two manufacturing departments--Forming and Customizing. The company used the following data at the...
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
Total
Estimated total machine-hours (MHs)
9,000
1,000
10,000
Estimated total fixed manufacturing overhead cost
$
18,900
$
2,900
$
21,800
Estimated variable manufacturing overhead cost per MH
$
1.50
$
3.00
During the period, the company started and completed two
jobs--Job C and Job L. Data concerning those two jobs follow:
Job C...
Hultquist Corporation has two manufacturing departments--Forming and Customizing. The company used the following data at the...
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
Total
Estimated total machine-hours (MHs)
9,000
1,000
10,000
Estimated total fixed manufacturing overhead cost
$
18,900
$
2,900
$
21,800
Estimated variable manufacturing overhead cost per MH
$
1.50
$
3.00
During the period, the company started and completed two
jobs--Job C and Job L. Data concerning those two jobs follow:
Job C...
Hultquist Corporation has two manufacturing departments--Forming and Customizing. The company used the following data at the...
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
Total
Estimated total machine-hours (MHs)
9,000
1,000
10,000
Estimated total fixed manufacturing overhead cost
$
18,900
$
2,900
$
21,800
Estimated variable manufacturing overhead cost per MH
$
1.50
$
3.00
During the period, the company started and completed two
jobs--Job C and Job L. Data concerning those two jobs follow:
Job C...
Hultquist Corporation has two manufacturing departments--Forming and Customizing. The company used the following data at the...
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
Total
Estimated total
machine-hours (MHs)
5,000
5,000
10,000
Estimated total
fixed manufacturing overhead cost
$
10,500
$
15,000
$
25,500
Estimated
variable manufacturing overhead cost per MH
$
2.00
$
4.00
During the period, the company started and completed two
jobs--Job C and Job L. Data concerning those two jobs follow:
Job C...
Harnett Corporation has two manufacturing departments--Molding and Assembly. The company used the following data at the...
Harnett Corporation has two manufacturing departments--Molding
and Assembly. The company used the following data at the beginning
of the period to calculate predetermined overhead rates:
Molding
Assembly
Total
Estimated total machine-hours (MHs)
2,000
8,000
10,000
Estimated total fixed manufacturing overhead cost
$
6,000
$
24,800
$
30,800
Estimated variable manufacturing overhead cost per MH
$
1.50
$
3.00
During the period, the company started and completed two
jobs--Job E and Job M. Data concerning those two jobs follow:
Job E...
arnett Corporation has two manufacturing departments--Molding and Assembly. The company used the following data at the...
arnett Corporation has two manufacturing departments--Molding
and Assembly. The company used the following data at the beginning
of the period to calculate predetermined overhead rates: Molding
Assembly Total Estimated total machine-hours (MHs) 6,000 4,000
10,000 Estimated total fixed manufacturing overhead cost $ 36,600 $
24,400 $ 61,000 Estimated variable manufacturing overhead cost per
MH $ 2.00 $ 4.00 During the period, the company started and
completed two jobs--Job E and Job M. Data concerning those two jobs
follow: Job E...
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