Taveras Corporation is currently operating at 50% of its available manufacturing capacity. It 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 P90 was started, completed, and sold to the customer for $3,000. The following information was available with respect to this job: Direct materials Direct labor cost Machine-hours used Compute the total manufacturing cost assigned to Job P90. $ 1,380 $ 990 77 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the plantwide predetermined overhead rate. Predetermined overhead rate Required 1 Required 2 190,000 $ 3,420,000 2.00 $ per MH Complete this question by entering your answers in the tabs below. Direct materials Direct labor Overhead applied Total manufacturing cost During the year, Job P90 was started, completed and sold to the customer for $2,500. Compute the total manufacturing cost assigned to Job P90.
Taveras Corporation is currently operating at 50% of its available manufacturing capacity. It 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 P90 was started, completed, and sold to the customer for $3,000. The following information was available with respect to this job: Direct materials Direct labor cost Machine-hours used Compute the total manufacturing cost assigned to Job P90. $ 1,380 $ 990 77 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the plantwide predetermined overhead rate. Predetermined overhead rate Required 1 Required 2 190,000 $ 3,420,000 2.00 $ per MH Complete this question by entering your answers in the tabs below. Direct materials Direct labor Overhead applied Total manufacturing cost During the year, Job P90 was started, completed and sold to the customer for $2,500. Compute the total manufacturing cost assigned to Job P90.
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter26: Manufacturing Accounting: The Job Order Cost System
Section: Chapter Questions
Problem 5SEB: PREDETERMINED FACTORY OVERHEAD RATE Marston Enterprises calculates a predetermined factory overhead...
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Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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Transcribed Image Text:Taveras Corporation is currently operating at 50% of its available manufacturing capacity. It 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 P90 was started, completed, and sold to the customer for $3,000. The following information was available with
respect to this job:
Direct materials
Direct labor cost
Machine-hours used
Compute the total manufacturing cost assigned to Job P90.
Required 1 Required 2
Complete this question by entering your answers in the tabs below.
$ 1,380
$ 990
77
Compute the plantwide predetermined overhead rate.
Predetermined overhead rate
Required 1 Required 2
190,000
$ 3,420,000
2.00
$
per MH
Complete this question by entering your answers in the tabs below.
Direct materials
Direct labor
Overhead applied
Total manufacturing cost
During the year, Job P90 was started, completed and sold to the customer for $2,500. Compute the total manufacturing cost
assigned to Job P90.
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