Answers
Answer :-
1)Predetermined overhead rate = Total manufacturing overhead / Total machine-hours
Total machine-hours = 155,000 MHs
Total manufacturing overhead = Fixed Manufacturing overhead cost + Variable Manufacturing overhead cost
Fixed Manufacturing overhead cost = $651,000
Variable manufacturing overhead cost = variable manufacturing overhead cost per machine hours × Machine hours
Variable Manufacturing overhead costs = $4.90 × 155,000
Variable manufacturing overhead cost = $759,500
Total manufacturing overhead cost =$651,000 + $759,500
Total manufacturing overhead cost = $1,410,500
Predetermined overhead rate = $1,410,500 /155,000
Predetermined overhead rate = $9.1 per MHs
2)Total manufacturing cost assigned to Job 400
| Particular | Amount |
| Direct materials | $390 |
| Direct labor cost | $260 |
| Manufacturing overhead cost (Machines hours used × Predetermined overhead rate) (33 MHs × $ 9.1 per MHs ) | $300 |
| Total manufacturing cost | $950 |
3)The unit product cost for job 400,if job includes 50 units -
Total manufacturing costs = $950
No of unit includes in Job 400 =50 units
Unit Product costs = Total manufacturing costs / No. of units
Unit Product costs = $950 / 50
Unit Product costs = $19 per unit
4)The selling price per unit are as follows -
| Particular | Amount |
| Total manufacturing costs | $950 |
| Add :- Markup (110% of $950) | $1045 |
| Selling price of Job 400 | $1995 |
| No. of Unit included in Job 400 | 50 units |
| Selling price per unit (selling price /No. Of unit of Job 400) | $39.9 |
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