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 Job M Direct materials $ 21,400 $ 8,400 Direct labor cost $ 21,600 $ 8,400 Molding machine-hours 2,700 3,300 Assembly machine-hours 400 3,600 Required: a. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate that overhead rate. (Round your answer to 2 decimal places.) b. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the amount of manufacturing overhead applied to Job E. (Do not round intermediate calculations.) c. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the total manufacturing cost assigned to Job E. (Do not round intermediate calculations.) d. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 20% on manufacturing cost to establish selling prices. Calculate the selling price for Job E. (Do not round intermediate calculations.) e. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments. What is the departmental predetermined overhead rate in the Molding department? (Round your answer to 2 decimal places.) f. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. What is the departmental predetermined overhead rate in the Assembly department? (Round your answer to 2 decimal places.) g. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. How much manufacturing overhead will be applied to Job E? (Do not round intermediate calculations.) h. 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 price for Job E. (Do not round intermediate calculations.)

Solutions

Expert Solution

Ans G

Ans h

ekkarill92 answered 11 months ago

Next > < Previous

Related Solutions

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...

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...

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...

Molash Corporation has two manufacturing departments--Machining and Assembly. The company used the following data at the...

Molash Corporation has two manufacturing departments--Machining and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Machining Assembly Total Estimated total machine-hours (MHs) 2,000 3,000 5,000 Estimated total fixed manufacturing overhead cost $ 9,400 $ 8,100 $ 17,500 Estimated variable manufacturing overhead cost per MH $ 1.80 $ 2.40 During the most recent month, the company started and completed two jobs--Job B and Job L. 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....

Bierce Corporation has two manufacturing departments--Machining and Finishing. The company used the following data at the...

Bierce Corporation has two manufacturing departments--Machining and Finishing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Machining Finishing Total Estimated total machine-hours (MHs) 8,000 2,000 10,000 Estimated total fixed manufacturing overhead cost $ 16,000 $ 9,400 $ 25,400 Estimated variable manufacturing overhead cost per MH $ 3.00 $ 6.00 During the most recent month, the company started and completed two jobs--Job B and Job K. There were no beginning inventories. Data...

Bierce Corporation has two manufacturing departments--Machining and Finishing. The company used the following data at the...

Bierce Corporation has two manufacturing departments--Machining and Finishing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Machining Finishing Total Estimated total machine-hours (MHs) 8,000 8,000 16,000 Estimated total fixed manufacturing overhead cost $ 4,400 $ 39,200 $ 43,600 Estimated variable manufacturing overhead cost per MH $ 2.60 $ 3.00 During the most recent month, the company started and completed two jobs--Job B and Job K. There were no beginning inventories. Data...

Bierce Corporation has two manufacturing departments--Machining and Finishing. The company used the following data at the...

Bierce Corporation has two manufacturing departments--Machining and Finishing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Machining Finishing Total Estimated total machine-hours (MHs) 6,000 4,000 10,000 Estimated total fixed manufacturing overhead cost $ 10,200 $ 24,400 $ 34,600 Estimated variable manufacturing overhead cost per MH $ 2.30 $ 4.00 During the most recent month, the company started and completed two jobs--Job B and Job K. There were no beginning inventories. Data...

Subjects