Exercise 3-14 Computing Predetermined Overhead Rates and Job Costs [LO3-1, LO3-2, LO3-3, LO3-7]

Moody Corporation uses a job-order costing system with a plantwide overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates:

n Exercises-Applying'o- x . 5 value A 1000 points Exercise 344 Computing Predetermined Overhead Rates and Job Costs [LOB1, L012. LOB3. L017] Moody Corporation uses a ioeorder costing system wrtn a piantwrde ouemead rate based on macnine noors At tne beginning ol tne year the company rnadetlreloiiouring estimates Macninenours required to support estimated production iss 000 Fixed manufacturing overhead cost 5 658 can Vanaoie manulactunnp ouemead cost per macninenour 5 4 30 Required: 1 Compme tire predetermined ouerlread rate (Do nor round internrediore oalculoriorrs. Round yam answer to 2 decimal places.) 2 During |he year Jab AIDE was started and completed The fallowirlg infurmaliun was availabiewith respect to this lab Dilect materials lequisilioned S 390 Direct iatmrcust 5300 Machinehnur: used 36 Compute tnetotal rnanulactun'ng cost assignedto Job dun [Do not round inlemlediale oalculalians and round nal answer la 2 decimal places.) }a Dunnotne year tne company worked a total ol 145 mu macninenours on all iolrs and incurred actual manulacturing ouerrread costs at $1,235 nds What is the amount oi undereppiied or ouerappiied ouemead fortne yeal'l [Use the overhead rate determined in requirement 1.)