Moody Corporation uses a job-order costing system with a plantwide predetermined

Question

Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours 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 152,800 5 653,000 5 4.30 Required 1 Compute the plantwide predetermined overhead rate 2 During The year, Job 400 was started and completed. The following information was availiable with respect to this job: following information was olrect aaterials Direct labor cost Machine-hours used 378 238 48 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 lf Moody uses markup percent ge of 120% of its total manufacturing cost, then what semn established for Job 400? price per unit would it have Prev 1 or 7 Next > 8

Explanation / Answer

1a) Plantwide overhead rate = (653000/152000)+4.30 = 8.60 per machine hour

1b) Total manufacturing cost assigned :

1c) Unit product cost = 944/60 = 15.73 per unit

1d) Selling price = 15.73*220% = 34.61 per unit

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Direct material 370 Direct labour 230 Manufacturing overhead (8.60*40) 344 Total manufacturing cost 944

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