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Hultquist Corporation has two manufacturing departments-Forming and Customizing. The company used the following data at the b
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Answer #1
Required a:
Forming Customizing Total
Estimated total machine-hours (MHs) 6000 4000 10000
(*) Estimated variable manufacturing overhead cost per MH 1.00 2.00
Estimated total variable manufacturing overhead 6000 8000 14000
Estimated total fixed manufacturing overhead cost 24000 10400 34400
Estimated total manufacturing overhead 30000 18400 48400
Plantwide predetermined overhead rate = Estimated total manufacturing overhead / Estimated total machine hours used = 48400 / 10000 4.84 per MH
Required b:
Job L
Forming machine-hours 3500
Customizing machine-hours 1500
Total machine-hours worked 5000
(*) Plantwide predetermined overhead rate 4.84
Manufacturing overhead applied 24200
Required c:
Job L
Direct materials   9700
Direct labor cost 10100
Manufacturing overhead applied 24200
Manufacturing cost 44000
Required d:
Job L
Manufacturing cost 44000
(+) Markup @ 80% of manufacturing cost 35200
Selling price 79200
Required e :
Forming predetermined overhead rate = ( Estimated total fixed manufacturing overhead cost / Estimated total machine hours ) + Estimated variable manufacturing overhead cost per MH = ( 24000 / 6000 ) + 1.00 5.00 per MH
Required f:
Customizing predetermined overhead rate = ( Estimated total fixed manufacturing overhead cost / Estimated total machine hours ) + Estimated variable manufacturing overhead cost per MH = ( 10400 / 4000 ) + 2.00 4.60 per MH
Required g :
Job L
Overhead of forming department ( 5.00 * 3500 ) 17500
Overhead of customizing department ( 4.60 * 1500 ) 6900
Manufacturing overhead applied to Job L 24400
Required h :
Job L
Direct materials 9700
Direct labor cost 10100
Manufacturing overhead applied 24400
Manufacturing cost 44200
(+) Markup @ 80% of manufacturing cost 35360
Selling price 79560
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