High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company uses a job-order costing system in which departmental predetermined overhead rates are used to apply manufacturing overhead cost to jobs. The predetermined overhead rate in the Molding Department is based on machine-hours, and the rate in the Painting Department is based on direct labor- hours. At the beginning of the year, the company provided the following estimates: Painting 54,300 38,000 $ 504,990 $ 4.40 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following information concerning the job: Direct labor-hours Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Direct labor-hours Machine-hours Direct materials Direct labor cost Department Molding 81 330 $938. $ 740 Painting 127 74 $ 1,200. $ 1,000 Department Molding 37,500 88,000 $ 246,400 $ 2.40 Required: 1. Compute the predetermined overhead rates used in the Molding Department and the Painting Department. 2. Compute the total overhead cost applied to Job 205. 3-a. What would be the total manufacturing cost recorded for Job 205? 3-b. If the job contained 40 units, what would be the unit product cost? High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company uses a job-order costing system in which departmental predetermined overhead rates are used to apply manufacturing overhead cost to jobs. The predetermined overhead rate in the Molding Department is based on machine-hours, and the rate in the Painting Department is based on direct labor- hours. At the beginning of the year, the company provided the following estimates: Painting 54,300 38,000 $ 504,990 $ 4.40 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following information concerning the job: Direct labor-hours Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Direct labor-hours Machine-hours Direct materials Direct labor cost Department Molding 81 330 $938. $ 740 Painting 127 74 $ 1,200. $ 1,000 Department Molding 37,500 88,000 $ 246,400 $ 2.40 Required: 1. Compute the predetermined overhead rates used in the Molding Department and the Painting Department. 2. Compute the total overhead cost applied to Job 205. 3-a. What would be the total manufacturing cost recorded for Job 205? 3-b. If the job contained 40 units, what would be the unit product cost?
Expert Answer:
Answer rating: 100% (QA)
To calculate Predetermined Overhead Rate Estimated Manufacturing Overhead Estimated alloca... View the full answer
Related Book For
Managerial Accounting
ISBN: 978-0697789938
13th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
Posted Date:
Students also viewed these accounting questions
-
High Desert Potteryworks makes a variety of pottery products that it sells to retailers such as Home Depot. The company uses a job-order costing system in which predetermined overhead rates are used...
-
High Desert Potteryworks makes a variety of pottery products that it sells to retailers, such as Home Depot. The company uses a job-order costing system in which predetermined overhead rates are used...
-
High Desert Pottery works makes a variety of pottery products that it sells to retailers. The company uses a job-order costing system in which departmental predetermined overhead rates are used to...
-
Develop a data type ResizingArrayQueueOfStrings that implements a queue with a fixed-length array in such a way that all operations take constant time. Then, extend your implementation to use a...
-
1. What was Morlife trying to protect? 2. Why shouldnt Perry be allowed to compete with his former employer? 3. What does one have to do to protect trade secrets?
-
The logical structure in which one instruction occurs after another with no branching is a ____________. a. Sequence b. Selection c. Loop d. Case
-
Define probability density function and probability distribution function.
-
Stephen Hall is developing a program in supply chain management certification for managers. Hall has listed a number of activities that must be completed before a training program of this nature...
-
Wing Ltd acquired all the issued shares of Leg Ltd for cash consideration of $300 000. At the date of acquisition Leg Ltd had: - share capital $100 000. - retained earnings $100 000. - buildings:...
-
BGV the maker of industrial liquidating agent is preparing the budget for 2023. The sales department has indicated the annual sales of 32,000 units and the selling price to be set at RM100 per unit....
-
An individual's ethics is influenced by many factors. As a result, everyone's ethical reasoning differs. Companies and organizations create internal rules or codes of conducts to ensure consistent...
-
Could the Roncker argument, that spending benefiting only one student is a factor in using cost as a defense, be used by a school district to deny residential placement to a student because it will...
-
In the Cerra v. Pawling School District case, the court noted that when a learningdisabled child is in a mainstream class, the attainment of passing grades and regular advancement from grade to grade...
-
What happens if a student needs a particular service for which funds are not available?
-
In the Cerra v. Pawling School District case, the Fifth Circuit Court of Appeals found that the school districts IEP was reasonably calculated to provide the student with FAPE. Based on the...
-
Once a school develops an individualized education program, what role is left for the courts?
-
Suppose the dealer owns nn car dealerships (including the one mentioned above) in the KC metropolitan area. The monthly demand for this model at each of these dealerships is also Normally distributed...
-
1) The government decided to reduce taxes on fast-food to increase revenue. The government assumes that fast-food products have a) An inelastic demand b) An elastic demand c) A demand curve that is...
-
Balance sheet accounts for Joyner Company contained the following amounts at the end of Years 1and 2: The companys income statement for Year 2 follows: Equipment that had cost $40,000 and on which...
-
What is underapplied overhead? Overapplied overhead? What disposition is made of these amounts at the end of the period?
-
What is the difference between net cash provided by operating activities and free cash flow?
-
True or False. The Euler-Bernoulli beam theory is more accurate than the Timoshenko theory.
-
Fixed end spring force a. Bending moment \(=0\); shear force equals the b. Deflection \(=0\); slope \(=0\) c. Deflection \(=0\); bending moment \(=0\) d. Bending moment \(=0\); shear force \(=0\)
-
Fill in the Blank. The Timoshenko beam theory can be considered as __________ beam theory.
Study smarter with the SolutionInn App