Business, 24.09.2020 21:01 Astudent333

Computing Pre-determined 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 159,000
Fixed manufacturing overhead cost $651,000
Variable manufacturing overhead cost per machine-hour $4.60
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 $370
Direct labor cost $300
Machine-hours used 34
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 120% of its total manufacturing cost, then what selling price per unit would it have established for Job 400?
5. If Moody hired you as a consultant to critique its pricing methodology, what would you say?

Answers: 1

Show answers

Another question on Business

Business, 21.06.2019 22:50

Assume that the governance committee states that all projects costing more than $70,000 must be reviewed and approved by the chief information officer and the it senior leadership team (slt). at this point, the cio has the responsibility to ensure that management processes observe the governance rules. for example, the project team might present the proposed project in an slt meeting for a vote of approval. what does this scenario illustrate about organizational structure?

Answers: 2

Answer

Business, 21.06.2019 23:30

Consider the following scenarios. use what you have learned to decide if the goods and services being provided are individual, public, or merit goods. for each case, state what kind of good has been described and explain your answer using the definitions of individual, public, and merit goods. (6 points each) 1. from your window, you can see a city block that's on fire. you watch city firefighters rescue people and battle the flames to save the buildings. 2. while visiting relatives, you learn that your cousins attend a nearby elementary school that is supported financially by local property tax revenue. 3. you see a squadron of military jets flying overhead. 4. you find out that your aunt works for a defense manufacturing company that has several defense contracts with the government. she tells you that she works for a team that is producing a communications satellite. 5. your class visits a local jail run by a private, profit-making company that detains county criminals and is paid with tax revenue.

Answers: 1

Answer

Business, 21.06.2019 23:30

Afreelanceâ€‹ singer-songwriter is planning the restoration of a recently purchased civilâ€‹ war-era farmhouse. while he professes an enjoymentâ€‹ of, and talent in the constructionâ€‹ trades, the theory of comparative advantage implies that a. the value of what he importsâ€‹ (in thisâ€‹ case, professional contractorâ€‹ services) must equal the value of what he exportsâ€‹ (songs). b. he should concentrate on the restoration work since hisâ€‹ out-of-pocket costs will be much lower than if he hires professionals. c. â€‹self-sufficiency isâ€‹ advantageous, hence he should split his time between music and construction. d. the income lost while away from music will likely exceed the savings realized by doing the workâ€‹ himself, thus, he should hire professionals to do the restoration work. e. he ought to do as much of the work himself as possible since importsâ€‹ (in thisâ€‹ case, professional contractorâ€‹ services) should always be restricted to those things that cannot be done internall

Answers: 2

Answer

Business, 22.06.2019 01:30

Emil motycka is considered an entrepreneur because

Answers: 2

Answer

You know the right answer?

Computing Pre-determined Overhead Rates and Job Costs [LO2-1, LO2-2, LO2-3] Moody Corporation uses...

Questions