Opunul Corporation has two manufacturing departments-Molding and Finishing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Estimated total machine-hours (MHS) Estimated total fixed manufacturing overhead cost Estimated variable manufacturing overhead cost per MH Molding 6,500 $ 24,000 $ 1.50 Finishing 3,500 $ 6,800 $ 3.00 Total 10,000 $ 30,800 During the most recent month, the company started and completed two jobs-Job A and Job M. There were no beginning inventories. Data concerning those two jobs follow. Direct materials Direct labor cost Molding machine-hours Finishing machine-hours Job M $ 11,800 Job A $ 18,000 $ 24,900 $ 11,200 2,500 2,500 4,000 1,000 Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 20% on manufacturing cost to establish selling prices. The calculated selling price for Job A is closest to: Note: Round your intermediate calculations to 2 decimal places.

Opunul Corporation has two manufacturing departments-Molding and Finishing. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Estimated total machine-hours (MHS) Estimated total fixed manufacturing overhead cost Estimated variable manufacturing overhead cost per MH Molding 6,500 $ 24,000 $ 1.50 Finishing 3,500 $ 6,800 $ 3.00 Total 10,000 $ 30,800 During the most recent month, the company started and completed two jobs-Job A and Job M. There were no beginning inventories. Data concerning those two jobs follow. Direct materials Direct labor cost Molding machine-hours Finishing machine-hours Job M $ 11,800 Job A $ 18,000 $ 24,900 $ 11,200 2,500 2,500 4,000 1,000 Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 20% on manufacturing cost to establish selling prices. The calculated selling price for Job A is closest to: Note: Round your intermediate calculations to 2 decimal places.

Name: Opunul Corporation has two manufacturing departments-Molding and Fini
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Description: Opunul Corporation has two manufacturing departments-Molding and Finishing. The company used the following data at the beginning of the year to calculate predetermined overhead rates:Estimated total machine-hours (MHS)Estimated total fixed manufactu

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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Wilmington Company has two manufacturing departments—Assembly and Fabrication. It considers all of its manufacturing overhead costs to be fixed costs. The first set of data that is shown below is based on estimates from the beginning of the year. The second set of data relates to one particular job completed during the year—Job Bravo. Estimated Data Assembly Fabrication Total Manufacturing overhead costs $ 3,570,000 $ 3,990,000 $ 7,560,000 Direct labor-hours 105,000 63,000 168,000 Machine-hours 42,000 210,000 252,000 Job Bravo Assembly Fabrication Total Direct labor-hours 22 14 36 Machine-hours 14 17 31 Required: 1. If Wilmington used a plantwide predetermined overhead rate based on direct labor-hours, how much manufacturing overhead would be applied to Job Bravo? 2. If Wilmington uses departmental predetermined overhead rates with direct labor-hours as the allocation base in Assembly and machine-hours as the allocation base in Fabrication, how much…
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