Harnett Corporation has two manufacturing departments--Molding and Assembly.The company used the following data at the beginning of the period to calculate predetermined overhead rates:
During the period,the company started and completed two jobs--Job E and Job M.Data concerning those two jobs follow:
Required:
a.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate that overhead rate.
b.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate the amount of manufacturing overhead applied to Job E.
c.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate the total manufacturing cost assigned to Job E.
d.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 60% on manufacturing cost to establish selling prices.Calculate the selling price for Job E.
e.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments.What is the departmental predetermined overhead rate in the Molding department?
f.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.What is the departmental predetermined overhead rate in the Assembly department?
g.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.How much manufacturing overhead will be applied to Job E?
h.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.Further assume that the company uses a markup of 60% on manufacturing cost to establish selling prices.Calculate the selling price for Job E.

Question

Harnett Corporation has two manufacturing departments--Molding and Assembly.The company used the following data at the beginning of the period to calculate predetermined overhead rates:
  During the period,the company started and completed two jobs--Job E and Job M.Data concerning those two jobs follow:
  Required:
a.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate that overhead rate.
b.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate the amount of manufacturing overhead applied to Job E.
c.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate the total manufacturing cost assigned to Job E.
d.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 60% on manufacturing cost to establish selling prices.Calculate the selling price for Job E.
e.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments.What is the departmental predetermined overhead rate in the Molding department?
f.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.What is the departmental predetermined overhead rate in the Assembly department?
g.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.How much manufacturing overhead will be applied to Job E?
h.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.Further assume that the company uses a markup of 60% on manufacturing cost to establish selling prices.Calculate the selling price for Job E.

Quizplus · Accepted Answer

The Answer of Harnett Corporation has two manufacturing departments--Molding and Assembly.The company used the following data at the beginning of the period to calculate predetermined overhead rates:
  During the period,the company started and completed two jobs--Job E and Job M.Data concerning those two jobs follow:
  Required:
a.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate that overhead rate.
b.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate the amount of manufacturing overhead applied to Job E.
c.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.Calculate the total manufacturing cost assigned to Job E.
d.Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 60% on manufacturing cost to establish selling prices.Calculate the selling price for Job E.
e.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments.What is the departmental predetermined overhead rate in the Molding department?
f.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.What is the departmental predetermined overhead rate in the Assembly department?
g.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.How much manufacturing overhead will be applied to Job E?
h.Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments.Further assume that the company uses a markup of 60% on manufacturing cost to establish selling prices.Calculate the selling price for Job E.

Harnett Corporation Has Two Manufacturing Departments--Molding and Assembly