Comans Corporation has two production departments, Milling and Customizing. The company uses a job-order costing system and computes apredetermined overhead rate in each production department. The Milling Department's predetermined overhead rate is based on machine-hours andthe Customizing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had madethe following estimates:Machine-hoursJob A319:Machine-hoursDirect labor-hoursTotal fixed manufacturing overhead costVariable manufacturing overhead per machine-hourVariable manufacturing overhead per direct labor-hourDuring the current month the company started and finished Job A319. The following data were recorded for this job:Direct labor-hoursDirect materialsDirect labor costMilling6020$ 655$ 400Milling18,0004,000$ 113,400$ 1.60Customizing1060$ 305$ 1,200Customizing13,0007,000$ 64,400$ 3.90If the company marks up its manufacturing costs by 20% then the selling price for Job A319 would be closest to: (Round your intermediate calculationsto 2 decimal places.) O$764.00$3,820.00$5,042.00$4,584.00

Manufacturing Cost Manufacturing cost is defined as the combination of all the expenses incurred…

Comans Corporation has two production departments, Milling and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Job A319: Machine-hours Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour During the current month the company started and finished Job A319. The following data were recorded for this job: Customizing 10 60 $ 305 1,200 Direct labor-hours Direct materials Direct labor cost Milling 60 20 $ 655 $ 400 Milling 18,000 4,000 $ 113,400 $ 1.60 $ Customizing 13,000 7,000 $ 64,400 $ 3.90 If the company marks up its manufacturing costs by 20% then the selling price for Job A319 would be closest to: (Round your intermediate calculations to 2 decimal places.)

Comans Corporation has two production departments, Milling and Customizing. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling Department's predetermined overhead rate is based on machine-hours and the Customizing Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates: Machine-hours Direct labor-hours Total fixed manufacturing overhead cost Job A319: Machine-hours Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour During the current month the company started and finished Job A319. The following data were recorded for this job: Customizing 10 60 $ 305 1,200 Direct labor-hours Direct materials Direct labor cost Milling 60 20 $ 655 $ 400 Milling 18,000 4,000 $ 113,400 $ 1.60 $ Customizing 13,000 7,000 $ 64,400 $ 3.90 If the company marks up its manufacturing costs by 20% then the selling price for Job A319 would be closest to: (Round your intermediate calculations to 2 decimal places.)

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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This exercise is using the question in the picture, but replacing some of the information as listed below. Please answer question 2 & 3 from the question in the picture, with the changed information. *Assume Direct Labor workers make $20 per hour, so with the given labor cost per job, you can determine the number of hours worked. CHANGE the Exercise to say that Overhead is applied at the rate of $32 per direct labor hour. ALSO CHANGE to say that Job #39 and Job #40 were completed and sold, while Job #41 and Job #42 are complete but not sold, and Job #43 is not completed yet.*