Harnett Corporation has two manufacturing departments--Molding and Assembly. The company used the following data at the beginning of the period to calculate predetermined overhead rates:
Molding | Assembly | Total | ||||
Estimated total machine-hours (MHs) | 3,000 | 7,000 | 10,000 | |||
Estimated total fixed manufacturing overhead cost | $ | 24,000 | $ | 53,200 | $ | 77,200 |
Estimated variable manufacturing overhead cost per MH | $ | 1.00 | $ | 2.00 | ||
During the period, the company started and completed two jobs--Job E and Job M. Data concerning those two jobs follow:
Job E | Job M | |||||
Direct materials | $ | 21,600 | $ | 9,300 | ||
Direct labor cost | $ | 22,600 | $ | 9,500 | ||
Molding machine-hours | 2,500 | 500 | ||||
Assembly machine-hours | 2,500 | 4,500 | ||||
Required:
a. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate that overhead rate. (Round your answer to 2 decimal places.)
b. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the amount of manufacturing overhead applied to Job E. (Do not round intermediate calculations.)
c. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the total manufacturing cost assigned to Job E. (Do not round intermediate calculations.)
Answers
Working |
Molding |
Assembly |
Total |
|
A |
Estimated machine hours |
3,000 |
7,000 |
10,000 |
B |
Variable overhead per MH |
$1 |
$2 |
|
C = A x B |
Total Variable Overhead |
$3,000 |
$14,000 |
$17,000 |
A |
Total variable Overhead |
$17,000 |
B |
Tota Fixed Overhead |
$77,200 |
C = A+B |
Total manufacturing overhead |
$94,200 |
D |
Total machine hours |
10,000 |
E = C/D |
Plantwide manufacturing overhead rate |
$ 9.42 = Answer |
A |
Job E Total machine hours |
$5,000 |
B |
Plantwide manufacturing overhead rate |
$ 9.42 |
C = A x B |
Manufacturing Overhead applied to Job E |
$47,100 = Answer |
A |
Direct Materials |
$21,600 |
B |
Direct Labor Cost |
$22,600 |
C |
Manufacturing Overhead |
$47,100 |
D = A+B+C |
Total manufacturing cost assigned to Job E |
$91,300 = Answer |
Harnett Corporation has two manufacturing departments--Molding and Assembly. The company used the following data at the...
Harnett Corporation has two manufacturing departments--Molding and Assembly. The company used the following data at the beginning of the period to calculate predetermined overhead rates: Molding Assembly Total Estimated total machine-hours (MHs) 3,000 7,000 10,000 Estimated total fixed manufacturing overhead cost $ 24,000 $ 53,200 $ 77,200 Estimated variable manufacturing overhead cost per MH $ 1.00 $ 2.00 During the period, the company started and completed two jobs--Job E and Job M. Data concerning those two jobs follow: Job E...
Harnett Corporation has two manufacturing departments--Molding and Assembly. The company used the following data at the beginning of the period to calculate predetermined overhead rates: : Harnett Corporation has two manufacturing departments--Molding and Assembly. The company used the following data at the beginning of the period to calculate predetermined overhead rates Molding Assembly Total Estimated total machine-hours (MHs) Estimated total fixed manufacturing overhead cost Estimated variable manufacturing overhead cost per MEH 6,000 $ 21,600 $2.50 10,000 $ 24,400 46,000 4,000...
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Harnett Corporation has two manufacturing departments--Molding and Assembly. The company used the following data at the beginning of the period to calculate predetermined overhead rates: Molding Assembly Total Estimated total machine-hours (MHs) 3,000 7,000 10,000 Estimated total fixed manufacturing overhead cost $ 24,000 $ 53,200 $ 77,200 Estimated variable manufacturing overhead cost per MH $ 1.00 $ 2.00 During the period, the company started and completed two jobs--Job E and Job M. Data concerning those two jobs follow: Job E...
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1 comtinued 2. 2 continued Harnett Corporation has two manufecturing departments-Molding and Assembly. The company used the following dato at the beginning of the period to calculate predetermined overheed rates: 9,000 $ 45,900 7,600 후 53,500 1.503.00 1,000 10,000 Estinated total fixed manufacturing overhead cost During the period, the company started and completed two jobs-Job E and Job M. Data concerning those two jobs follow. $21,800 $9,000 22,100 $8,500 2,500 6,500 500 500 a. Assume that the company uses a...