Question
Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours....
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 | 155,000 | |
| Fixed manufacturing overhead cost | $ | 658,000 |
| Variable manufacturing overhead cost per machine-hour | $ | 4.40 |
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 | $ | 320 |
| Direct labor cost | $ | 290 |
| Machine-hours used | 33 | |
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. If Moody uses a markup percentage of 110% of its total manufacturing cost, then what selling price per unit would it have established for Job 400?
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