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Exercise 3-14 (Algo) Computing Predetermined Overhead Rates and Job Costs [LO3-1, LO3-2, LO3-3] Moody Corporation...

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Accounting

Exercise 3-14 (Algo) Computing Predetermined Overhead Rates and Job Costs [LO3-1, LO3-2, LO3-3]

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 154,000 Fixed manufacturing overhead cost $ 658,000 Variable manufacturing overhead cost per machine-hour $ 4.70

Required:

Compute the plantwide predetermined overhead rate.

During the year, Job 400 was started and completed. The following information was available with respect to this job: Direct materials $ 310 Direct labor cost $ 280 Machine-hours used 39 Compute the total manufacturing cost assigned to Job 400.

If Job 400 includes 50 units, what is the unit product cost for this job?

If Moody uses a markup percentage of 130% of its total manufacturing cost, then what selling price per unit would it have established for Job 400?

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