14 Blerce Corporatlon has two manufacturing departments-Machining and Finishing. The company used the followIng data at thebeglnning of the year to calculate predetermined overhead rates:MachiningFinishing6,000$ 37,800$ 6.00TotalEstimated total machine-hours (MHS)Estimated total fixed manufacturing overhead costEstimated variable manufacturing overhead cost per MH%24244,0007,6001. 2010,000$ 45,400During the most recent month, the company started and completed two Jobs-Job B and Job K. There were no beglnning Inventorles.Data concerning those two Jobs follow:Job BJob K$13,700 $7,900$24,700 $ 6,400Direct materialsDirect labor costMachiningmachine-hoursFinishing machine-hours2,5002,5001,5003,500Requlred:a. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate thatoverhead rate. (Round your answer to 2 decimal places.)b. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate theamount of manufacturing overhead applled to Job B. (Do not round Intermedlate calculations.)C. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate theamount of manufacturing overhead applled to Job K. (Do not round Intermedlate calculations. Rounc your enswer to the nearestwhole dollar amount.)d. 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 Machining department? (Round your answer to 2 decimalplaces.)e. 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 Finishing department? (Round your answer to2 declmal places.)f. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base In bothproduction departments. How much manufacturing overhead wll be applled to Job B? (Do not round Intermedlate celculatlons.)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 appled to Job K?. (Do not round Intermedlate celculatlons.)Predetermined overhead rateper MHa.b.Manufacturing overhead applied Job BC.Manufacturing overhead applied Job Kper MHd.Machining predetermined overhead rateper MHFinishing predetermined overhead ratef.Manufacturing overhead applied job Bg.Manufacturing overhead applied job K

(A). If Company uses Plantwide predefined manufacturing Overhead based on Machine hours, then…

Blerce Corporation has two manufacturing departments-Machining and Finishing. The company used the following data at the beglnning of the year to calculate predetermined overhead rates: Machining 4,000 7,600 1.20 Finishing 6,000 $37,800 $ 6.00 Total Estimated total machine-hours (MHS) Estimated total fixed manufacturing overhead cost Estimated variable manufacturing overhead cost per MH 10,000 $ 45,400 %24 24

Blerce Corporation has two manufacturing departments-Machining and Finishing. The company used the following data at the beglnning of the year to calculate predetermined overhead rates: Machining 4,000 7,600 1.20 Finishing 6,000 $37,800 $ 6.00 Total Estimated total machine-hours (MHS) Estimated total fixed manufacturing overhead cost Estimated variable manufacturing overhead cost per MH 10,000 $ 45,400 %24 24

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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