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High Desert Potteryworks makes a varlety of pottery products that it sells to retallers. The company uses a job-order costing system in which departmental 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- nours. At the beginning of the year, the company provided the following estimates: Department Molding Painting Direct labor-hours 33,000 82,000 $229,600 $494,700 51, e0e 35,e00 Machine-hours Fixed manufacturing overhead cost variable manufacturing overhead per machine-hour variable manufacturing overhead per direct labor-hour 2.40 4.40 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following Information concerning che job: Department Molding Painting Direct labor-hours 78 126 Machine-hours 370 73 $ 950 $ 700 Direct materials $1,300 $1,010 Direct labor cost Required: 1. Compute the predetermined overhead rates used in the Molding Department and the Painting Department. 2. Compute the total overhead cost applied to Job 205. 3-a. What would be the total manufacturing cost recorded for Job 205? 3-b. If the Job contained 31 units, what would be the unit product cost?

High Desert Potteryworks makes a varlety of pottery products that it sells to retallers. The company uses a job-order costing system in which departmental 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- nours. At the beginning of the year, the company provided the following estimates: Department Molding Painting Direct labor-hours 33,000 82,000 $229,600 $494,700 51, e0e 35,e00 Machine-hours Fixed manufacturing overhead cost variable manufacturing overhead per machine-hour variable manufacturing overhead per direct labor-hour 2.40 4.40 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following Information concerning che job: Department Molding Painting Direct labor-hours 78 126 Machine-hours 370 73 $ 950 $ 700 Direct materials $1,300 $1,010 Direct labor cost Required: 1. Compute the predetermined overhead rates used in the Molding Department and the Painting Department. 2. Compute the total overhead cost applied to Job 205. 3-a. What would be the total manufacturing cost recorded for Job 205? 3-b. If the Job contained 31 units, what would be the unit product cost?

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter2: Accounting For Materials
Section: Chapter Questions
Problem 17E: Davis Co. uses backflush costing to account for its manufacturing costs. The trigger points are the...
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High Desert Potteryworks makes a varlety of pottery products that It sells to retalers. The company uses a Job-order costing system Iin which departmental 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 Palnting Department Is based on direct labor- hours. At the beglnning of the year, the company provided the following estimates: Department Molding Painting 33,000 82,000 $229,600 $494,700 Direct labor-hours 51,000 35,000 Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour variable manufacturing overhead per direct labor-hour 2.40 24 4.40 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following Information concerning the job: Department Molding Painting Direct labor-hours 78 126 Machine-hours 370 73 Direct materials $ 950 $ 700 $1,300 $1,810 Direct labor cost Requlred: 1. Compute the predetermined overhead rates used Iin the Molding Department and the Palnting Department. 2. Compute the total overhead cost applied to Job 205. 3-a. What would be the total manufacturing cost recorded for Job 205? 3-b. If the job contalned 31 units, what would be the unit product cost? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 38 What would be the total manufacturing cost recorded for Job 205? (Round "Predetermined overhead rate" to 2 decimal places. Round other intermediate calculations and final answers to the nearest dollar amount.) Department Molding Painting Total Direct materials Direct labor Manufacturing overhead Total cost < Required 2 Required 3B >
Transcribed Image Text:High Desert Potteryworks makes a varlety of pottery products that It sells to retalers. The company uses a Job-order costing system Iin which departmental 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 Palnting Department Is based on direct labor- hours. At the beglnning of the year, the company provided the following estimates: Department Molding Painting 33,000 82,000 $229,600 $494,700 Direct labor-hours 51,000 35,000 Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour variable manufacturing overhead per direct labor-hour 2.40 24 4.40 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following Information concerning the job: Department Molding Painting Direct labor-hours 78 126 Machine-hours 370 73 Direct materials $ 950 $ 700 $1,300 $1,810 Direct labor cost Requlred: 1. Compute the predetermined overhead rates used Iin the Molding Department and the Palnting Department. 2. Compute the total overhead cost applied to Job 205. 3-a. What would be the total manufacturing cost recorded for Job 205? 3-b. If the job contalned 31 units, what would be the unit product cost? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 38 What would be the total manufacturing cost recorded for Job 205? (Round "Predetermined overhead rate" to 2 decimal places. Round other intermediate calculations and final answers to the nearest dollar amount.) Department Molding Painting Total Direct materials Direct labor Manufacturing overhead Total cost < Required 2 Required 3B >
High Desert Potteryworks makes a varlety of pottery products that It sells to retalers. The company uses a Job-order costing system Iin which departmental 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 Palnting Department Is based on direct labor- hours. At the beglnning of the year, the company provided the following estimates: Department Molding Painting 33,000 82,000 $229,600 $494,700 Direct labor-hours 51,000 35,000 Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour 2.40 24 4.40 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following Information concerning the Job: Department Molding Painting Direct labor-hours 78 126 Machine-hours 370 73 Direct materials $ 950 $ 700 $1,300 $1,010 Direct labor cost Requlred: 1. Compute the predetermined overhead rates used in the Molding Department and the Palnting Department. 2. Compute the total overhead cost applied to Job 205. 3-a. What would be the total manufacturing cost recorded for Job 205? 3-b. If the Job contalned 31 units, what would be the unit product cost? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 3B If the job contained 31 units, what would be the unit product cost? (Round "Predetermined overhead rate" to 2 decimal places. Round other intermediate calculations to the nearest dollar amount. Round your final answer to 2 decimal places.) Unit product cost per unit < Required 3A Required 3B >
Transcribed Image Text:High Desert Potteryworks makes a varlety of pottery products that It sells to retalers. The company uses a Job-order costing system Iin which departmental 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 Palnting Department Is based on direct labor- hours. At the beglnning of the year, the company provided the following estimates: Department Molding Painting 33,000 82,000 $229,600 $494,700 Direct labor-hours 51,000 35,000 Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour 2.40 24 4.40 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following Information concerning the Job: Department Molding Painting Direct labor-hours 78 126 Machine-hours 370 73 Direct materials $ 950 $ 700 $1,300 $1,010 Direct labor cost Requlred: 1. Compute the predetermined overhead rates used in the Molding Department and the Palnting Department. 2. Compute the total overhead cost applied to Job 205. 3-a. What would be the total manufacturing cost recorded for Job 205? 3-b. If the Job contalned 31 units, what would be the unit product cost? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3A Required 3B If the job contained 31 units, what would be the unit product cost? (Round "Predetermined overhead rate" to 2 decimal places. Round other intermediate calculations to the nearest dollar amount. Round your final answer to 2 decimal places.) Unit product cost per unit < Required 3A Required 3B >
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