High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company's...
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High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company's job-order costing system uses departmental predetermined overhead rates 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: 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 73 330 $ 940 $ 720 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following information concerning the job: Painting 128 73 Department $ 1,100 $ 1,020 Molding 34,500 88,000 $ 193,600 $ 2.80 0 Painting 53,800 34,000 $ 473,440 0 $ 4.80 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 25 units, what would be its unit product cost? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 3B Compute the Predetermined Overhead Rates used in the Molding Department and the Painting Department. Note: Round your answers to 2 decimal places. Molding Department Painting Department Predetermined Overhead $ $ Rate 5.00 per MH 13.60 per DLH Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 3B Compute the total overhead cost applied to Job 205. Note: Round "Predetermined overhead rate" to 2 decimal places. Round other intermediate calculations and final answer to the nearest dollar amount. Total overhead cost $ 117,680 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 3B What would be the total manufacturing cost recorded for Job 205? Note: Round "Predetermined overhead rate" to 2 decimal places. Round other intermediate calculations and final answers to the nearest dollar amount. Direct materials Direct labor Manufacturing overhead Total cost Molding Department $ $ P Painting Department $ $ $ Total Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 3B If the job contained 25 units, what would be its unit product cost? Note: Round "Predetermined overhead rate" to 2 decimal places. Round other intermediate calculations to the nearest dollar amount. Round your final answer to 2 decimal places. $ 4,707.20 per unit Unit product cost < Required 3A Required 3B High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company's job-order costing system uses departmental predetermined overhead rates 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: 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 73 330 $ 940 $ 720 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following information concerning the job: Painting 128 73 Department $ 1,100 $ 1,020 Molding 34,500 88,000 $ 193,600 $ 2.80 0 Painting 53,800 34,000 $ 473,440 0 $ 4.80 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 25 units, what would be its unit product cost? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 3B Compute the Predetermined Overhead Rates used in the Molding Department and the Painting Department. Note: Round your answers to 2 decimal places. Molding Department Painting Department Predetermined Overhead $ $ Rate 5.00 per MH 13.60 per DLH Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 3B Compute the total overhead cost applied to Job 205. Note: Round "Predetermined overhead rate" to 2 decimal places. Round other intermediate calculations and final answer to the nearest dollar amount. Total overhead cost $ 117,680 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 3B What would be the total manufacturing cost recorded for Job 205? Note: Round "Predetermined overhead rate" to 2 decimal places. Round other intermediate calculations and final answers to the nearest dollar amount. Direct materials Direct labor Manufacturing overhead Total cost Molding Department $ $ P Painting Department $ $ $ Total Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 3B If the job contained 25 units, what would be its unit product cost? Note: Round "Predetermined overhead rate" to 2 decimal places. Round other intermediate calculations to the nearest dollar amount. Round your final answer to 2 decimal places. $ 4,707.20 per unit Unit product cost < Required 3A Required 3B
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Related Book For
Managerial Accounting
ISBN: 978-0697789938
13th Edition
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
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