Developing and Using a Predetermined Overhead Rate Assume that the following predictions were made for 2009 for one of the plants of Milliken & Company: Total manufacturing overhead for the year $44,000,000 Total machine hours for the year 2,000,000 Actual results for February 2009 were as follows: Manufacturing overhead $5,480,000 Machine hours 310,000 (a) Determine the 2009 predetermined overhead rate per machine hour. $ 22 (b) Using the predetermined overhead rate per machine hour, determine the manufacturing overhead applied to Work-in-Process during February. $ 6,820,000 (c) As of February 1, actual overhead was underapplied by $500,000. Determine the cumulative amount of any overapplied or underapplied overhead at the end of February. $ 600,000 Process Costing Tempe Manufacturing Company makes a single product that is produced on a continuous basis in one department. All materials are added at the beginning of production. The total cost per equivalent unit in process in March 2009 was $4.60, consisting of $3.00 for materials and $1.60 for conversion. During the month, 8,900 units of product were transferred to finished goods inventory; on March 31, 4,000 units were in process, 10 percent converted. The company uses weighted average costing. (a) Determine the cost of goods transferred to finished goods inventory. $ 37,260 (b) Determine the cost of the ending work-in-process inventory. $ 9,480 x (c) What was the total cost of the beginning work-in-process inventory plus the current manufacturing costs? $ 46,740