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Taveras Corporation is currently operating at 50% of its available manufacturing capacity. It uses a...

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Accounting

Taveras Corporation is currently operating at 50% of its available manufacturing capacity. It 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 175,000
Fixed manufacturing overhead cost $ 2,450,000
Variable manufacturing overhead cost per machine-hour $ 2.00

Required:

1. Compute the plantwide predetermined overhead rate.

2. During the year, Job P90 was started, completed, and sold to the customer for $2,600. The following information was available with respect to this job:

Direct materials $ 1,196
Direct labor cost $ 858
Machine-hours used 74

Compute the total manufacturing cost assigned to Job P90.

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