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Homework answers / question archive / Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours

Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours

Management

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

 

157,000

Fixed manufacturing overhead cost

$

657,000

Variable manufacturing overhead cost per machine-hour

$

4.80

 

 

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

$

370

Direct labor cost

$

290

Machine-hours used

 

35

 

 

Compute the total manufacturing cost assigned to Job 400.

3. If Job 400 includes 60 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?

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