Hultquist Corporation has two manufacturing departments--Forming at the beginning of the period to calculate predetermined overhead rates: Estimated total machine-hours (MHS) Estimated total fixed manufacturing overhead cost Estimated variable manufacturing overhead cost per MH and Customizing. The company used the following dat Forming Customizing Total 6,000 4,000 10,000 $20,400 $9,600 $30,000 $5.00 $ 2.50
Hultquist Corporation has two manufacturing departments--Forming at the beginning of the period to calculate predetermined overhead rates: Estimated total machine-hours (MHS) Estimated total fixed manufacturing overhead cost Estimated variable manufacturing overhead cost per MH and Customizing. The company used the following dat Forming Customizing Total 6,000 4,000 10,000 $20,400 $9,600 $30,000 $5.00 $ 2.50
Chapter1: Financial Statements And Business Decisions
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![Hultquist Corporation has two manufacturing departments--Forming and Customizing. The company used the following data
at the beginning of the period to calculate predetermined overhead rates:
Estimated total machine-hours (MHS)
Estimated total fixed manufacturing overhead cost
Estimated variable manufacturing overhead cost per MH
Forming Customizing Total
6,000 4,000 10,000
$20,400
$ 2.50
$9,600 $30,000
$ 5.00
During the period, the company started and completed two jobs-Job C and Job L. Data concerning those two jobs follow:
Job C Job L
$15,500 $9,100
$22,300 $9,300
1,250 4,750
1,250 2,750
Direct materials
Direct labor cost
Forming machine-hours
Customizing machine-hours](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6cf5b773-adde-4551-97e4-2c7c6d4cf828%2F84629746-0cec-4aab-9fbf-cc750c69c873%2Fmfab8ok_processed.png&w=3840&q=75)
Transcribed Image Text:Hultquist Corporation has two manufacturing departments--Forming and Customizing. The company used the following data
at the beginning of the period to calculate predetermined overhead rates:
Estimated total machine-hours (MHS)
Estimated total fixed manufacturing overhead cost
Estimated variable manufacturing overhead cost per MH
Forming Customizing Total
6,000 4,000 10,000
$20,400
$ 2.50
$9,600 $30,000
$ 5.00
During the period, the company started and completed two jobs-Job C and Job L. Data concerning those two jobs follow:
Job C Job L
$15,500 $9,100
$22,300 $9,300
1,250 4,750
1,250 2,750
Direct materials
Direct labor cost
Forming machine-hours
Customizing machine-hours
![Required:
a. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.
Calculate that overhead rate. (Round your answer to 2 decimal places.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6cf5b773-adde-4551-97e4-2c7c6d4cf828%2F84629746-0cec-4aab-9fbf-cc750c69c873%2Fr6mtf9_processed.png&w=3840&q=75)
Transcribed Image Text:Required:
a. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.
Calculate that overhead rate. (Round your answer to 2 decimal places.)
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