Question

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 sachine-hour 152,000 9654,000 $ 4.90 37 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 Machine-hours used $370 $260 35 Compute the total manufacturing cost assigned to Job 400. 3. If Job 400 includes 50 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 2 Required 3 Required 4 Compute the plantwide predetermined overhead rate. (Round your answer to 2 decimal places.) Prodetermined overhead role per MH Required Required 2 >

Answer 1

Answer: 1.) Planturide Predetermined overhead Estimated Tot Manufacturing overhead Estimated Total Machine hours $1,398,800 152000 hours $9.20 per maching hours WN.. Estimated Total Manufacturing overhead- Fixed Manufacturing overhead variable Manufacturing overhead ($4.90 x 152000) 654,000 744,800 1,398,800 Total Manufacturing overhead

2.) Total Manufacturing cost assigned to Jobyoo are as follows Direct Materials $370 $260 Derect. Labor Allocated Maneefacturing overhead (35 hours x $9.20) Total manufacturing Cost $322 $952 3.) If Job 400 includes 50 units, then und product Cost are as follows: Chit Product Cost - Total Manufacturing Cost Number of units $952 50 units $ 19.04 per unit

4.) The selling price per unit for Job 400 Computed as follows: 952 1142 Total manufacturing Cost Markup (120% of Manufacturing Cost) Selling Price of Jobuoo (₂) Number of units 2094 50 units Selling Price perunit $41.88

Thankyou.........