Homework Answers
Answer : B) $600,000
Applied overhead for 1000 Units =
Total Units Cost = 1000*4.30 =4,300
Applied overhead for the Job = 4,300-1,000-1,500 = $1,800
Overhead rate = 1,800 /450 = $4 Per MH
Total budgeted overhead for the year = 150,000 MH * $4 = $ 600,000 (Answer)
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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 153,000 $ 658,000 4.30 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: $ 380 $ 220...
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Ravsten Company uses a job-order costing system.
The company applies overhead cost to jobs on the basis of
machine-hours. For the current year, the company estimated that it
would work 35,000 machine-hours and incur $183,750 in manufacturing
overhead cost. The following transactions occurred during the
year:
a. Raw materials requisitioned for use in production, $309,000
(70% direct and 30% indirect).
b. The following costs were incurred for employee services:
Ravsten Company uses a job-order costing system. The company...
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