Alltime Industries manufactures custom-designed playground equipment for schools and city parks. Alltime expected to incur $828,000 of manufacturing overhead cost, 41,400 of direct labor hours, and $1,573,200 of direct labor cost during the year (the cost of direct labor is $38 per hour). The company allocates manufacturing overhead on the basis of direct labor hours. During July, Alltime completed Job 302. The job used 170 direct labor hours and required $13,300 of direct materials. The City of Northville has contracted to purchase the playground equipment at a price of 24% over manufacturing cost. Read the requirements. Requirement 1. Calculate the manufacturing cost of Job 302. First identify the formula, then calculate the predetermined overhead rate. Estimated yearly overhead costs + Estimated yearly direct labor hours = Predetermined overhead rate 828,000 41,400 = $ per hour $ Calculate the manufacturing cost of Job 302. Direct labor Direct materials $ + 6,460 13,300 3,400 23,160 Manufacturing overhead Total job cost Requirement 2. How much will the City of Northville pay for this playground equipment? (Round your answers to the nearest whole number.) Total job cost Total price to charge 23,160 + ... = = 20

Alltime Industries manufactures custom-designed playground equipment for schools and city parks. Alltime expected to incur $828,000 of manufacturing overhead cost, 41,400 of direct labor hours, and $1,573,200 of direct labor cost during the year (the cost of direct labor is $38 per hour). The company allocates manufacturing overhead on the basis of direct labor hours. During July, Alltime completed Job 302. The job used 170 direct labor hours and required $13,300 of direct materials. The City of Northville has contracted to purchase the playground equipment at a price of 24% over manufacturing cost. Read the requirements. Requirement 1. Calculate the manufacturing cost of Job 302. First identify the formula, then calculate the predetermined overhead rate. Estimated yearly overhead costs + Estimated yearly direct labor hours = Predetermined overhead rate 828,000 41,400 = $ per hour $ Calculate the manufacturing cost of Job 302. Direct labor Direct materials $ + 6,460 13,300 3,400 23,160 Manufacturing overhead Total job cost Requirement 2. How much will the City of Northville pay for this playground equipment? (Round your answers to the nearest whole number.) Total job cost Total price to charge 23,160 + ... = = 20

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Description: Note:-• Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.• Answer completely.• You will get up vote for sure. Alltime Industries manufactures custom-designed playground equipment for schools a

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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