Exercise 2-12 (Algo) Computing Predetermined Overhead Rates and Job Costs [LO2-1, LO2-2, LO2-3] 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 machine-hour 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 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? $ 390 $ 270 35 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 4 155,000 $ 660,000 $ 4.50 Compute the plantwide predetermined overhead rate. (Round your answer to 2 decimal places.) Predetermined overhead rate per MH < Required 1 < Prev Required 2 > 6 of 7 Next >

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Exercise 2-12 (Algo) Computing Predetermined Overhead Rates and Job Costs [LO2-1, LO2-2, LO2-3]
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 machine-hour
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
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?
$ 390
$ 270
35
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
Predetermined overhead rate
Required 4
Compute the plantwide predetermined overhead rate. (Round your answer to 2 decimal places.)
155,000
$ 660,000
$ 4.50
per MH
< Required 1
< Prev
Required 2 >
www
6 of 7 HE
Next >
Transcribed Image Text:Exercise 2-12 (Algo) Computing Predetermined Overhead Rates and Job Costs [LO2-1, LO2-2, LO2-3] 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 machine-hour 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 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? $ 390 $ 270 35 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 Predetermined overhead rate Required 4 Compute the plantwide predetermined overhead rate. (Round your answer to 2 decimal places.) 155,000 $ 660,000 $ 4.50 per MH < Required 1 < Prev Required 2 > www 6 of 7 HE Next >
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