EXERCISE 2-12 Computing Predetermined Overhead Rates and Job Costs LO2-1, LO2-2, LO2-3 Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: Machine-hours required to support estimated production Fixed manufacturing overhead cost .. Variable manufacturing overhead cost per machine-hour 100,000 $650,000 $3.00 .. . . . . . . . Required: 1 Compute the plantwide predetermined overhead rate. 2. During the year, Job 400 was started and completed. The following information was available with respect to this job: Machine-hours used ._ _ . . 40 Compute the total manufacturing cost assigned to Job 400. 3. If Job 400 includes 52 units, what is the unit product cost for this job? 4. If Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would it have established for Job 400? If Moody hired you as a consultant to critique its pricing methodology, what would you say? 5