Find what the budgeted manufacturing overhead rate

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Destiny Products uses a job-costing system with two direct-cost categories (direct materials and direct manufacturing labor) and one manufacturing overhead cost pool. Destiny allocates manufacturing overhead costs using direct manufacturing labor costs. destiny provides the following information:

                                                  Budget for                      Actual Results for
                                         Year 2006                                     Year 2006
Direct materials costs             1,600,000 ?                     1,450,000 ?
Direct manufacturing labor costs 1,200,000 ?                     900,000 ?
Manufacturing overhead costs     960,000 ?                       780,000 ?

During March, the job cost record for job 123 contained the following information:

Direct materials used 50,000 ?
Direct manufacturing labor costs 30,000 ?

Problem 1: The budgeted manufacturing overhead rate for 2006 is

Problem 2: Using the actual costing system, what is the cost of Job 123?

Problem 3: Using the budgeted costing system, what is the cost of Job 123?

Reference no: EM132746579

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