13 Kluth Corporation has two manufacturing departments-Molding and Customizing. The company used the following data at thebeginning of the year to calculate predetermined overhead rates:Molding Customizing7,000$18,200$ 1.50TotalEstimated total machine-hours (MHs)Estimated total fixed manufacturing overhead costEstimated variable manufacturing overhead cost per MH9,4002,400$9,600$ 3.00$27,800During the most recent month, the company started and completed two jobs--Job C and Job M. There were no beginning inventories.Data concerning those two jobs follow:Job CJob MDirect materialsDirect labor cost$15,300 $ 9,000$22,100 $ 9,1002,5001,400Molding machine-hoursCustomizing machine-hours4,5001,000Required: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 selling prices.Calculate the selling prices for Job C and for Job M. (Do not round intermediate calculations.)Selling price for Job CSelling price for Job M

Given : Molding Customizing Total Estimated total machine hours (MHs) 7,000 2,400 9,400…

Kluth Corporation has two manufacturing departments-Molding and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Molding Customizing 7,000 $18,200 $ 1.50 Total Estimated total machine-hours (MHs) Estimated total fixed manufacturing overhead cost Estimated variable manufacturing overhead cost per MH 2,400 $9,600 $ 3.00 9,400 $27,800

Kluth Corporation has two manufacturing departments-Molding and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Molding Customizing 7,000 $18,200 $ 1.50 Total Estimated total machine-hours (MHs) Estimated total fixed manufacturing overhead cost Estimated variable manufacturing overhead cost per MH 2,400 $9,600 $ 3.00 9,400 $27,800

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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