Problem 2-24A Multiple Departments; Applying Overhead [LO2-1, LO2-2, LO2-3, LO2-7]
High Desert Potteryworks makes a variety of pottery products that it sells to retailers such as Home Depot. The company uses a job-order costing system in which predetermined overhead rates are used to apply manufacturing overhead cost to jobs. The predetermined overhead rate in the Molding Department is based on machine-hours, and the rate in the Painting Department is based on direct labor-hours. At the beginning of the year, the company's management made the following estimates: |
Department | ||
Molding | Painting | |
Direct labor-hours | 37,000 | 54,900 |
Machine-hours | 86,000 | 37,000 |
Direct materials cost | $188,000 | $198,000 |
Direct labor cost | $277,000 | $530,000 |
Fixed manufacturing overhead cost | $240,800 | $477,630 |
Variable manufacturing overhead per machine-hour | $2.80 | - |
Variable manufacturing overhead per direct labor-hour | - | $4.80 |
Job 205 was started on August 1 and
completed on August 10. The company's cost records |
Department | ||
Molding | Painting | |
Direct labor-hours | 85 | 132 |
Machine-hours | 350 | 69 |
Materials placed into production | $932 | $1,300 |
Direct labor cost | $720 | $950 |
Required: |
1. |
Compute the predetermined overhead rate used during the year in the Molding Department. Compute the rate used in the Painting Department. (Round your answers to 2 decimal places.) HOME ACCESSIBILITY PREVIEW
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Problem 2-24A Multiple Departments; Applying Overhead [LO2-1, LO2-2, LO2-3, LO2-7] High Desert Potteryworks makes a variety...
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