Moody Corporation uses a job-order costing system with a plant wide 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…………100,000
Fixed manufacturing overhead cost……………………………….$650,000
Variable manufacturing overhead cost per machine-hour…………$3.0
Required:
1. Compute the predetermined overhead rate
During the year, Job 400 was started and completed. The following information was available with respect to the job:
Direct materials requisitioned…………………..$450
Direct labor cost………………………………...$210
Machine-hours used……………………………….40
2. Compute the total manufacturing cost assigned to Job 400.
3. During the year, the company worked a total of 146,000 machine-hours on all jobs and incurred actual manufactured overhead costs of $1,350,000. What is the amount of underapplied or overapplied for the year? If this amount were closed out entirely to cost of Goods Sold would the journal entry increase or decrease net operating income?
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Moody Corporation uses a job-order costing system with a plant wide overhead rate based on machine-hours....
2. Moody Corporation uses a job-order costing system with a plantwide 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 158,000 Fixed manufacturing overhead cost $ 650,000 Variable manufacturing overhead cost per machine-hour $ 4.40 Required: 1. Compute the predetermined overhead rate. (Do not round intermediate calculations. Round your answer to 2 decimal places.) 2. During the year, Job 400 was started and completed....
Question 27: Moody Corporation uses a job-order costing system with a plantwide overhead rate based on machine-hours. At the beginning of the year, the company following estimates 100,000 Machine-hours required to support estimated production Fixed manufacturing overhead cost ble mamahcturtgne-hour S3.00 per machine-hourS650,000 Required: 1. Compute the predetermined overhead rate. 2. During the year, Job 400 was started and completed. The following information was available with respect to this job: S450 Direct materials requisitioned Direct labor cost S210 Machine-hours used...
Moody Corporation uses a job-order costing system with a plant wide 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 155,000 Fixed manufacturing overhead cost $ 651,000 Variable manufacturing overhead cost per machine-hour $ 4.90 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: Direct materials...
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 100,000 Fixed manufacturing overhead cost $ 650,000 Variable manufacturing overhead cost per machine-hour $ 3.00 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: Direct materials $...
Moody Corporation uses a job-order costing system with a plant
wide 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 -
153,000
fixed manufacturing overhead cost - $658,000
variable manufacturing overhead cost per machine-hour -
$4.10
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;
direct materials...
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 $ 655,000 $ 5.00 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: Direct materials Direct...
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 100,000 Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour $3.ee $650,0e0 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: Direct materials Direct labor cost...
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 158, eee $ 655, eee $ 4.60 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: $360...
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 158,000 Fixed manufacturing overhead cost $ 655,000 Variable manufacturing overhead cost per machine-hour $ 4.60 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: Direct materials $...
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 151,000 $ 650,000 $ 4.10 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: Direct materials Direct...