Harnett Corporation has two manufacturing departments--Molding and Assembly. The company used the following data at the beginning of the period to calculate predetermined overhead rates: MoldingAssemblyTotalEstimated total machine-hours (MHs) 4000? 6000? 10,000.00?Estimated total fixed manufacturing overhead cost$18,000?$33,000?$51,000?Estimated variable manufacturing overhead cost per MH$3.00?$6.00? During the period, the company started and completed two jobs--Job E and Job M. Data concerning those two jobs follow: Job EJob MDirect materials$16,000?$9400?Direct labor cost$22,700?$9700?Molding machine-hours 1250? 2750?Assembly machine-hours 1250? 4750?Required:a. Assume that the company uses a plantwide predetermined manufacturing overhead

Question

rate based on machine-hours. Calculate that overhead rate. (Round your answer to 2 decimal places.)b. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the amount of manufacturing overhead applied to Job E. (Do not round intermediate calculations.)c. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the total manufacturing cost assigned to Job E. (Do not round intermediate calculations.)d. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 80% on manufacturing cost to establish selling prices. Calculate the selling price for Job E. (Do not round intermediate calculations.) e. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments. What is the departmental predetermined overhead rate in the Molding department? (Round your answer to 2 decimal places.)f. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. What is the departmental predetermined overhead rate in the Assembly department? (Round your answer to 2 decimal places.)g. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. How much manufacturing overhead will be applied to Job E? (Do not round intermediate calculations.)h. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. Further assume that the company uses a markup of 80% on manufacturing cost to establish selling prices. Calculate the selling price for Job E. (Do not round intermediate calculations.)Predetermined overhead rate?per MHManufacturing overhead applied??Manufacturing cost??Selling price??Forming predetermined overhead rate?per MHCustomizing predetermined overhead rate?per MHManufacturing overhead applied job L??Selling price for job L??

What will be an ideal response?

Answer 1