POHR, Managerial Accounting

Assignment Help:
#questioExercise 3-12 Computing Predetermined Overhead Rates and Job Costs [LO1, LO2, LO3, LO7]
Kody Corporation uses a job-order costing system with a plantwide 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 150,000
Fixed manufacturing overhead cost $ 750,000
Variable manufacturing overhead cost per machine-hour $ 4.00

Required:
1.
Compute the predetermined overhead rate. (Omit the "$" sign in your response.)

Predetermined overhead rate $ per MH

2.
During the year Job 500 was started and completed. The following information was available with respect to this job:


Direct materials requisitioned $ 350
Direct labor cost $ 230
Machine-hours used 30


Compute the total manufacturing cost assigned to Job 500. (Omit the "$" sign in your response.)

Total manufacturing cost $

3-a.
During the year the company worked a total of 147,000 machine-hours on all jobs and incurred actual manufacturing overhead costs of $1,325,000. What is the amount of underapplied or overapplied overhead for the year? (Input the amount as a positive value. Omit the "$" sign in your response.)n..

Related Discussions:- POHR

Explain the going rate pricing, Going rate or follow the crowd pricing:- ...

Going rate or follow the crowd pricing:- In this method the firm price its products at the similar level as that of the competition. This method supposes that there will be no

Case study, Susan works in a real estate office that is equipped with up-to...

Susan works in a real estate office that is equipped with up-to-date copiers, scanners, and printers. She is frequently the only employee working in the office in the evenings and

Project, Ask question #MRead ALL instructions before getting started! ABC ...

Ask question #MRead ALL instructions before getting started! ABC Corporation is a new company that buys and sells office supplies. Business began on January 1, 2014. Given on th

Jit and management accounting , JIT and Management Accounting Manageme...

JIT and Management Accounting Management accountants in many organizations have been criticized because of their failure to change their managing accounting system to reflect

Moore company uses process costing, Moore Company uses process costing.  Th...

Moore Company uses process costing.  The following information was available for October: During October, 1,000 units were started, and costs incurred during the month were

Which of the following costs is an example of a cost, Which of the followin...

Which of the following costs is an example of a cost that remains the same in total as the number of units produced changes?

State the penetration pricing, State the Penetration pricing As opposed...

State the Penetration pricing As opposed to the skimming pricing the objective of penetration pricing is to gain a foothold in a highly competitive market. The objective of thi

Eoq model with quantity discounts, EOQ Model with quantity discounts Ci...

EOQ Model with quantity discounts Circumstances frequently occur where firms are able to obtain quantity discounts for large purchase orders. Buying in bulkiness has some merit

What are the duties of the public company aob, What are the duties of the P...

What are the duties of the Public Company Accounting Oversight Board?

What are the objectives of the cost accounting, Objectives of the cost acco...

Objectives of the cost accounting The Objectives of the cost accounting are ascertain of costs, fixation of selling prices, proper recording and presentation of cost data to th

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd