assembly 4,000 total 10,000 Estimated total fixed manufacturing overhead cost: molding $ 43,800 assembly $ 21,600 total $65,400 Estimated variable manufacturing overhead cost per MH molding$2.50 assembly $5.00 During the period, the ompany started and completed two jobs-- Job E and Job M. Data concerning those two jobs follow: Job E Job M Direct materials $13,700 S 7,700 Direct labor cost $20,800 $ 7,600 Molding machine-hours 2,500 3,500 Assembly machine-hours 500 1,500 Required: a. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculatethat overhead rate. (Round your answer to 2 decimal places.) b. Assume that the company uses a lantwide predetermined manufacturing overhead rate based on machine-hours. Calculatethe amount of manufacturing overhead applied to Job E. (Do not round intermediate calculations.) c. Assume that the company uses a plantwide redetermined manufacturing overhead rate based on machine-hours. Calculatethe total manufacturing cost assigned to Job E. (Do not round intermediate calculations.) d. Assume that the company uses a plantwide predetermined manufacturing werhead rate based on machine-hours and uses amarkup of 20% on manufacturing cost to establish selling prices. Calculate the selling price for Job E. (Do not roundintermediate calculations.) e. Assume that the company uses departmental redetermined overhead rates with machine-hours as the allocation base in bothdepartments. What is the departmental predetermined overhead rate in the Molding department? (Round your answer to 2decimal places.) f. Assume that the ompany uses departmental predetermined overhead rates with machine-hours as the allocation base in bothproduction departments. What is the departmental predetermined overhead rate in the Assembly department? (Round youranswer to 2 lecimal places.) g. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in bothproduction departments. How much manufacturing overhead will be applied to Job E? (Do not round termediatecalculations.) h. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in bothproduction departments. Further assume that the company uses a markup of 20% on nanufacturing cost to establish sellingprices. Calculate the selling price for Job E. (Do not round intermediate calculations.)

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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Harnett Corporation has two manufacturing departments--Molding and Assembly. The company used the following data at thebeginning of the period to calculate predetermined overhead rates: Estimated total machine -hours (MHs): molding 6,000
assembly 4,000 total 10,000 Estimated total fixed manufacturing overhead cost: molding S 43,800 assembly $ 21,600 total $65,400 Estimated variable manufacturing overhead cost per MH molding$2.50 assembly $5.00 During the period, the
company started and completed two jobs-- Job E and Job M. Data concerning those two jobs follow: Job E Job M Direct materials $13,700 S 7,700 Direct labor cost $20,800 S 7,600 Molding machine - hours 2,500 3,500 Assembly machine - hours
2,500 1,500 Required: a. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine - hours. Calculatethat overhead rate. (Round your answer to 2 decimal places.) b. Assume that the company uses a
plantwide predetermined manufacturing overhead rate based on machine - hours. Calculatethe amount of manufacturing overhead applied to Job E. (Do not round intermediate calculations.) c. Assume that the company uses a plantwide
predetermined manufacturing overhead rate based on machine - hours. Calculatethe total manufacturing cost assigned to Job E. (Do not round intermediate calculations.) d. Assume that the company uses a plantwide predetermined manufacturing
overhead rate based on machine - hours and uses amarkup of 20% on manufacturing cost to establish selling prices. Calculate the selling price for Job E. (Do not roundintermediate calculations.) e. Assume that the company uses departmental
predetermined overhead rates with machine - hours as the allocation base in bothdepartments. What is the departmental predetermined overhead rate in the Molding department? (Round your answer to 2decimal places.) f. Assume that the
company uses departmental predetermined overhead rates with machine - hours as the allocation base in bothproduction departments. What is the departmental predetermined overhead rate in the Assembly department? (Round youranswer to 2
decimal places.) g. Assume that the company uses departmental predetermined overhead rates with machine - hours as the allocation base in bothproduction departments. How much manufacturing overhead will be applied to Job E? (Do not round
intermediatecalculations.) h. Assume that the company uses departmental predetermined overhead rates with machine - hours as the allocation base in bothproduction departments. Further assume that the company uses a markup of 20% on
manufacturing cost to establish sellingprices. Calculate the selling price for Job E. (Do not round intermediate calculations.)
Transcribed Image Text:Harnett Corporation has two manufacturing departments--Molding and Assembly. The company used the following data at thebeginning of the period to calculate predetermined overhead rates: Estimated total machine -hours (MHs): molding 6,000 assembly 4,000 total 10,000 Estimated total fixed manufacturing overhead cost: molding S 43,800 assembly $ 21,600 total $65,400 Estimated variable manufacturing overhead cost per MH molding$2.50 assembly $5.00 During the period, the company started and completed two jobs-- Job E and Job M. Data concerning those two jobs follow: Job E Job M Direct materials $13,700 S 7,700 Direct labor cost $20,800 S 7,600 Molding machine - hours 2,500 3,500 Assembly machine - hours 2,500 1,500 Required: a. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine - hours. Calculatethat overhead rate. (Round your answer to 2 decimal places.) b. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine - hours. Calculatethe amount of manufacturing overhead applied to Job E. (Do not round intermediate calculations.) c. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine - hours. Calculatethe total manufacturing cost assigned to Job E. (Do not round intermediate calculations.) d. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine - hours and uses amarkup of 20% on manufacturing cost to establish selling prices. Calculate the selling price for Job E. (Do not roundintermediate calculations.) e. Assume that the company uses departmental predetermined overhead rates with machine - hours as the allocation base in bothdepartments. What is the departmental predetermined overhead rate in the Molding department? (Round your answer to 2decimal places.) f. Assume that the company uses departmental predetermined overhead rates with machine - hours as the allocation base in bothproduction departments. What is the departmental predetermined overhead rate in the Assembly department? (Round youranswer to 2 decimal places.) g. Assume that the company uses departmental predetermined overhead rates with machine - hours as the allocation base in bothproduction departments. How much manufacturing overhead will be applied to Job E? (Do not round intermediatecalculations.) h. Assume that the company uses departmental predetermined overhead rates with machine - hours as the allocation base in bothproduction departments. Further assume that the company uses a markup of 20% on manufacturing cost to establish sellingprices. Calculate the selling price for Job E. (Do not round intermediate calculations.)
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