![Homework - Chapter 2 6 Saved 6 Exercise 2-12 Computing Predetermined Overhead Rates and Job Costs [LO2-1, LO2-2, LO2-3] 14.28 points 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 Skipped Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour 152,000 651,000 $4.50 eBook Required 1. Compute the plantwide predetermined overhead rate 2. During the year, Job 400 was started and completed. The following information was available with respect to this job Print Direct materials Direct labor cost Machine-hours used $390 $ 260 36 References Compute the total manufacturing cost assigned to Job 400 3. If Job 400 includes 60 units, what is the unit product cost for this job? 4. If Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would it have established for Job 400? Complete this question by entering your answers in the tabs below. Required Required 2 Required 3 Required 4 Compute the plantwide predetermined overhead rate. (Round your answer to 2 decimal places.) Predetermined overhead rate per MH Required 1 Required 2>](http://img.homeworklib.com/questions/de1e4d30-71cb-11ea-8c05-65ae502cfef3.png?x-oss-process=image/resize,w_560)
![Homework - Chapter 2 Saved 6 Exercise 2-12 Computing Predetermined Overhead Rates and Job Costs [LO2-1, LO2-2, L02-3] 14.28 points 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 Skipped Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour 152,900 651,000 $ 4.50 eBook Required 1. Compute the plantwide predetermined overhead rate 2. During the year, Job 400 was started and completed. The following information was available with respect to this job Print Direct materials Direct labor cost Machine-hours $ 390 $ 260 36 References used Compute the total manufacturing cost assigned to Job 400 3. If Job 400 includes 60 units, what is the unit product cost for this job? 4.f Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would it have established for Job 400 Complete this question by entering your answers in the tabs below. Required 1Required 2Required 3 Required 4 Compute the total manufacturing cost assigned to Job 400. (Round your intermediate calculations to 2 decimal places and your final answer to the nearest dollar amount.) otal manufacturing cost Required 1 Required 3 >](http://img.homeworklib.com/questions/debd53d0-71cb-11ea-8e45-c18f52488fca.png?x-oss-process=image/resize,w_560)
![Homework - Chapter 2 Saved 6 Exercise 2-12 Computing Predetermined Overhead Rates and Job Costs [LO2-1, LO2-2, LO2-3] 14.28 points 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 Skipped Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour 152,000 $ 651,000 $4.5 eBook Required 1. Compute the plantwide predetermined overhead rate 2. During the year, Job 400 was started and completed. The following information was available with respect to this job Print Direct materials Direct labor cost Machine-hours used $ 390 $ 260 36 References Compute the total manufacturing cost assigned to Job 400 3. If Job 400 includes 60 units, what is the unit product cost for this job? 4. If Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would it have established for Job 400? Complete this question by entering your answers in the tabs below. Required 1 Required 2Reqired 3 Required 4 If Job 400 includes 60 units, what is the unit product cost for this job? (Round your intermediate calculations and final answer to the nearest whole dollar.) Unit product cost K Required 2 Required 4 >](http://img.homeworklib.com/questions/df7ffc40-71cb-11ea-bc7c-1196973fb63e.png?x-oss-process=image/resize,w_560)
![Homework - Chapter 2 Saved 6 Exercise 2-12 Computing Predetermined Overhead Rates and Job Costs LO2-1, LO2-2, LO2-3] 14.28 points 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: Skipped Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour 152,000 $ 651,000 $4.50 eBook Required 1. Compute the plantwide predetermined overhead rate 2. During the year, Job 400 was started and completed. The following information was available with respect to this job Print Direct materials Direct labor cost Machine-hours used 390 $ 260 36 References Compute the total manufacturing cost assigned to Job 400 3. If Job 400 includes 60 units, what is the unit product cost for this job? 41f Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would it have established for Job 400? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 If Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would it have established for Job 400? (Round your intermediate calculations and final answer to the nearest whole dollar.) Selling price per unit Required 3 Required 4](http://img.homeworklib.com/questions/e01884c0-71cb-11ea-a6bd-61f712b5ba52.png?x-oss-process=image/resize,w_560)
Homework Answers
1) predetermined overhead rate = $8.78 per MH
Predetermined overhead rate = budgeted overhead rate/ budgeted direct machine hour
= [$651000 + (152000 × $4.5)]/ 152000
= $1335000/152000
= $8.78
2)total manufacturing cost = $966
Total manufacturing cost assigned to job 400 = direct labour + direct material + manufacturing OH applied
= $390 + $260 + (36 × $8.78)
= $966
3)unit product cost = $16
Unit product cost = total manufacturing cost / number of units in the job
= 966/60
= 16.1 ~ $16
4)selling price per unit = $35
| Total manufacturing cost | $966 |
| Markup (120% of manufacturing cost) | $1159 |
| Selling price for job 400 (a) | $2125 |
| Number of unit in job 400 (b) | 60 |
| Selling price per unit | $35 |
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Homework - Chapter 2 6 Saved 6 Exercise 2-12 Computing Predetermined Overhead Rates and Job Costs...
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Chapter 2 Homework Saved Help Save & Exit Submit Check my work Exercise 2-12 Computing Predetermined Overhead Rates and Job Costs [LO2-1, LO2-2, LO2-3] 7.5 points 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: eBook Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour 155,000 $ 657,000 $ 4.60 Ask Required: 1. Compute...
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Exercise 2-12 Computing Predetermined Overhead Rates and Job Costs [LO2-1, LO2-2, LO2-3] 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 Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour 154,000 656,000 $ 4.70 Required: 1. Compute the plantwide predetermined overhead rate 2. During the year, Job 400 was started and completed. The following...
Please Help 1-4 I always leave a good rating for correct answers :) Exercise 2-12 Computing...
Please Help 1-4
I always leave a good rating for correct answers :)
Exercise 2-12 Computing Predetermined Overhead Rates and Job Costs [LO2-1, LO2-2, LO2-3] 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 Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour schảne-hour 500 153.ee 658,000 4.5e Required: 1. Compute the plantwide predetermined...
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Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours....
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Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours....
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overhead and job costs
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Exercise 2-12 Computing Predetermined Overhead Rates and Job Costs [LO2-1, LO2-2, LO2-3] 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 Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour 154,000 656,000 $ 4.70 Required: 1. Compute the plantwide predetermined overhead rate 2. During the year, Job 400 was started and completed. The following...
Please Help 1-4
I always leave a good rating for correct answers :)
Exercise 2-12 Computing Predetermined Overhead Rates and Job Costs [LO2-1, LO2-2, LO2-3] 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 Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour schảne-hour 500 153.ee 658,000 4.5e Required: 1. Compute the plantwide predetermined...
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