#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..