Nielsen Corporation has two manufacturing departments--Machining and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Machining Assembly Total Estimated total machine-hours (MHs) Estimated total fixed manufacturing overhead cost Estimated variable manufacturing overhead cost per machine-hour 1,000 4,000 5,000 $4,700 $ 1.20 $10,800 $ 2.20 $15,500 During the most recent month, the company started and completed two jobs--Job F and Job M. There were no beginning inventories. Data concerning those two jobs ollow: Job F Job M Direct materials $13,000 $20,400 $7,400 Direct labor cost $8,800 Machining machine-hours Assembly machine-hours 700 300 1,600 2,400 Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 40% on manufacturing cost to establish selling prices. The calculated selling price for Job M is closest to: (Round your intermediate calculations to 2 decimal places.)
Nielsen Corporation has two manufacturing departments--Machining and Assembly. The company used the following data at the beginning of the year to calculate predetermined overhead rates: Machining Assembly Total Estimated total machine-hours (MHs) Estimated total fixed manufacturing overhead cost Estimated variable manufacturing overhead cost per machine-hour 1,000 4,000 5,000 $4,700 $ 1.20 $10,800 $ 2.20 $15,500 During the most recent month, the company started and completed two jobs--Job F and Job M. There were no beginning inventories. Data concerning those two jobs ollow: Job F Job M Direct materials $13,000 $20,400 $7,400 Direct labor cost $8,800 Machining machine-hours Assembly machine-hours 700 300 1,600 2,400 Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 40% on manufacturing cost to establish selling prices. The calculated selling price for Job M is closest to: (Round your intermediate calculations to 2 decimal places.)
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter5: Process Cost Accounting—general Procedures
Section: Chapter Questions
Problem 7E: The records of Stone Inc. reflect the following data: Work in process, beginning of month4,000 units...
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Answer choices for Q1
a. $46,154
b. $29,970
c. $11,988
d. $41,958
Transcribed Image Text:Nielsen Corporation has two manufacturing departments--Machining and Assembly. The company used the following data at the beginning of the year to calculate
predetermined overhead rates:
Machining
Assembly
Total
Estimated total machine-hours (MHs)
1,000
4,000
5,000
$4,700
$ 1.20
$10,800
$ 2.20
$15,500
Estimated total fixed manufacturing overhead cost
Estimated variable manufacturing overhead cost per machine-hour
During the most recent month, the company started and completed two jobs--Job F and Job M. There were no beginning inventories. Data concerning those two jobs
follow:
Job F
Job M
$13,000
$20,400
$7,400
$8,800
Direct materials
Direct labor cost
Machining machine-hours
700
300
Assembly machine-hours
1,600
2,400
Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 40% on manufacturing cost to
establish selling prices. The calculated selling price for Job M is closest to: (Round your intermediate calculations to 2 decimal places.)
Transcribed Image Text:Huang Aerospace Corporation manufactures aviation control panels in two departments, Fabrication and Assembly. In the Fabrication department, Huang uses a
predetermined overhead rate of $30 per machine-hour. In the Assembly department, Huang uses a predetermined overhead rate of $12 per direct labor-hour. During the
current year, Job #X2984 incurred the following number of hours in each department:
Fabrication
Assembly
Machine-hours
40
12
Direct labor-hours
3
25
What is the total amount of manufacturing overhead that Huang should have applied to Job #X2984 during the current year?
Multiple Choice
$1,560
$1,500
$1,200
$1,734
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