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Mason Company has two manufacturing departments-Machining and Assembly. The company considers all of its manufacturing overhead costs to be fixed costs. It provided the following estimates at the beginning of the year as well as the following information with respect to Jobs A and B: Estimated Data Manufacturing overhead Direct labor-hours. Machine-hours Job A Direct labor-hours Machine-hours. Job B Direct labor-hours Machine-hours Machining $ 1,352,000 13,000 104,000 Machining Assembly 5 10 11 2 Machining Assembly 4 5 12 3 1. Manufacturing overhead applied Job A 1. Manufacturing overhead applied Job B 2. Manufacturing overhead applied Job A 2. Manufacturing overhead applied Job B. Assembly $ 169,000 104,000 8,000 Total 15 13 Total 9 15 Required: 1. If Mason Company uses a plantwide predetermined overhead rate with direct labor-hours as the allocation base, how much manufacturing overhead cost would be applied to Job A? Job B? 2. Assume that Mason Company uses departmental predetermined overhead rates. The Machining Department is allocated based on machine-hours and the Assembly Department is allocated based on direct labor-hours. How much manufacturing overhead cost would be applied to Job A? Job B? Note: For Requirement 2, round your intermediate calculations and final answers to 2 decimal places. > Answer is complete but not entirely correct. $ $ $ $ 195✔ 117 146.25 X 8.15 X Total $ 1,521,000 117,000 112,000

Mason Company has two manufacturing departments-Machining and Assembly. The company considers all of its manufacturing overhead costs to be fixed costs. It provided the following estimates at the beginning of the year as well as the following information with respect to Jobs A and B: Estimated Data Manufacturing overhead Direct labor-hours. Machine-hours Job A Direct labor-hours Machine-hours. Job B Direct labor-hours Machine-hours Machining $ 1,352,000 13,000 104,000 Machining Assembly 5 10 11 2 Machining Assembly 4 5 12 3 1. Manufacturing overhead applied Job A 1. Manufacturing overhead applied Job B 2. Manufacturing overhead applied Job A 2. Manufacturing overhead applied Job B. Assembly $ 169,000 104,000 8,000 Total 15 13 Total 9 15 Required: 1. If Mason Company uses a plantwide predetermined overhead rate with direct labor-hours as the allocation base, how much manufacturing overhead cost would be applied to Job A? Job B? 2. Assume that Mason Company uses departmental predetermined overhead rates. The Machining Department is allocated based on machine-hours and the Assembly Department is allocated based on direct labor-hours. How much manufacturing overhead cost would be applied to Job A? Job B? Note: For Requirement 2, round your intermediate calculations and final answers to 2 decimal places. > Answer is complete but not entirely correct. $ $ $ $ 195✔ 117 146.25 X 8.15 X Total $ 1,521,000 117,000 112,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Mason Company has two manufacturing departments-Machining and Assembly. The company considers all of its manufacturing overhead costs to be fixed costs. It provided the following estimates at the beginning of the year as well as the following information with respect to Jobs A and B: Estimated Data Manufacturing overhead Direct labor-hours Machine-hours Job A Direct labor-hours Machine-hours Job B Direct labor-hours Machine-hours Machining $ 1,352,000 13,000 104,000 Machining 5 11 Machining 4 12 1. Manufacturing overhead applied Job A 1. Manufacturing overhead applied Job B 2. Manufacturing overhead applied Job A 2. Manufacturing overhead applied Job B Assembly 10 2 Assembly 5 3 $ $ $ $ Assembly Total $ 169,000 $ 1,521,000 104,000 8,000 Required: 1. If Mason Company uses a plantwide predetermined overhead rate with direct labor-hours as the allocation base, how much manufacturing overhead cost would be applied to Job A? Job B? 2. Assume that Mason Company uses departmental predetermined overhead rates. The Machining Department is allocated based on machine-hours and the Assembly Department is allocated based on direct labor-hours. How much manufacturing overhead cost would be applied to Job A? Job B? Note: For Requirement 2, round your intermediate calculations and final answers to 2 decimal places. Answer is complete but not entirely correct. Total 15 13 195 117 Total 9 15 146.25 X 8.15 X 117,000 112,000
Transcribed Image Text:Mason Company has two manufacturing departments-Machining and Assembly. The company considers all of its manufacturing overhead costs to be fixed costs. It provided the following estimates at the beginning of the year as well as the following information with respect to Jobs A and B: Estimated Data Manufacturing overhead Direct labor-hours Machine-hours Job A Direct labor-hours Machine-hours Job B Direct labor-hours Machine-hours Machining $ 1,352,000 13,000 104,000 Machining 5 11 Machining 4 12 1. Manufacturing overhead applied Job A 1. Manufacturing overhead applied Job B 2. Manufacturing overhead applied Job A 2. Manufacturing overhead applied Job B Assembly 10 2 Assembly 5 3 $ $ $ $ Assembly Total $ 169,000 $ 1,521,000 104,000 8,000 Required: 1. If Mason Company uses a plantwide predetermined overhead rate with direct labor-hours as the allocation base, how much manufacturing overhead cost would be applied to Job A? Job B? 2. Assume that Mason Company uses departmental predetermined overhead rates. The Machining Department is allocated based on machine-hours and the Assembly Department is allocated based on direct labor-hours. How much manufacturing overhead cost would be applied to Job A? Job B? Note: For Requirement 2, round your intermediate calculations and final answers to 2 decimal places. Answer is complete but not entirely correct. Total 15 13 195 117 Total 9 15 146.25 X 8.15 X 117,000 112,000
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