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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 156,000 Fixed manufacturing overhead cost $ 653,000 Variable manufacturing overhead cost per machine-hour $ 4.30 Required: Compute the plantwide predetermined overhead rate. During the year, Job 400 was started and completed. The following information pertains to this job: Direct materials S 320 Direct labor cost $ 270 Machine-hours used 39 Compute the total manufacturing cost assigned to Job 400. If Job 400 includes 60 units, what is its unit product cost? If Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would establish for Job 400?

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 156,000 Fixed manufacturing overhead cost $ 653,000 Variable manufacturing overhead cost per machine-hour $ 4.30 Required: Compute the plantwide predetermined overhead rate. During the year, Job 400 was started and completed. The following information pertains to this job: Direct materials S 320 Direct labor cost $ 270 Machine-hours used 39 Compute the total manufacturing cost assigned to Job 400. If Job 400 includes 60 units, what is its unit product cost? If Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would establish for Job 400?

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter4: Accounting For Factory Overhead
Section: Chapter Questions
Problem 9P: Channel Products Inc. uses the job order cost system of accounting. The following is a list of the...
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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 156,000 Fixed manufacturing overhead cost $ 653,000 Variable manufacturing overhead cost per machine -hour $ 4.30 Required: Compute the plantwide predetermined overhead rate. During the year, Job 400 was started and completed. The following information pertains to this job: Direct materials $ 320 Direct labor cost $ 270 Machine -hours used 39 Compute the total manufacturing cost assigned to Job 400. If Job 400 includes 60 units, what is its unit product cost? If Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would it establish for Job 400?
Transcribed Image Text: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 156,000 Fixed manufacturing overhead cost $ 653,000 Variable manufacturing overhead cost per machine -hour $ 4.30 Required: Compute the plantwide predetermined overhead rate. During the year, Job 400 was started and completed. The following information pertains to this job: Direct materials $ 320 Direct labor cost $ 270 Machine -hours used 39 Compute the total manufacturing cost assigned to Job 400. If Job 400 includes 60 units, what is its unit product cost? If Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would it establish for Job 400?
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