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I got requirements 1-3 correc

I got requirements 1-3 correc

FINANCIAL ACCOUNTING
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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I also tried 19.76 initially, which was incorrect as well.

I got requirements 1-3 correct.

Answer one was $9.22

Answer two was $823 

Answer three was $16.47

Exercise 2-12 (Algo) Computing Predetermined Overhead Rates and Job Costs [LO2-1, LO2-2, LO2-3] Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine- hour Required: 1. Compute the plantwide predetermined overhead rate. 2. During the year, Job 400 was started and completed. The following information was available with respect to this job: Direct materials Direct labor cost Machine-hours used 151,000 $ 653,000 $ 4.90 $310 $ 200 34
Transcribed Image Text:Exercise 2-12 (Algo) Computing Predetermined Overhead Rates and Job Costs [LO2-1, LO2-2, LO2-3] Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine- hour Required: 1. Compute the plantwide predetermined overhead rate. 2. During the year, Job 400 was started and completed. The following information was available with respect to this job: Direct materials Direct labor cost Machine-hours used 151,000 $ 653,000 $ 4.90 $310 $ 200 34
Machine-hours used Compute the total manufacturing cost assigned to Job 400. 3. If Job 400 includes 50 units, what is the unit product cost for this job? 4. If Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would it have established for Job 400? Required 1 34 Complete this question by entering your answers in the tabs below. > Answer is complete but not entirely correct. Required 2 Required 3 Required 4 Selling price per unit If Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would it have established for Job 400? (Round your intermediate calculations to the nearest whole number and final answer to 2 decimal places.) $ 19.75 x < Required 3 Required 4 >
Transcribed Image Text:Machine-hours used Compute the total manufacturing cost assigned to Job 400. 3. If Job 400 includes 50 units, what is the unit product cost for this job? 4. If Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would it have established for Job 400? Required 1 34 Complete this question by entering your answers in the tabs below. > Answer is complete but not entirely correct. Required 2 Required 3 Required 4 Selling price per unit If Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would it have established for Job 400? (Round your intermediate calculations to the nearest whole number and final answer to 2 decimal places.) $ 19.75 x < Required 3 Required 4 >
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