Calculate the selling prices for job c and for job m

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Problem - Kluth Corporation has two manufacturing departments-Molding and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates:

 

Molding

Customizing

Total

Estimated total machine-hours

9,000

3,600

12,600

Estimated total fixed manufacturing overhead cost

$36,000

$13,320

$49,320

Estimated variable manufacturing overhead cost per MH

$2.50

$3.00

 

During the most recent month, the company started and completed two jobs-Job C and Job M. There were no beginning inventories Data concerning those two jobs follow:

 

Job C

Job M

Direct materials

$16,700

$9,900

Direct labor cost

$23,400

$10,300

Molding machine-hours

2,700

1,300

Customizing machine - hours

400

600

Required: 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 20% on manufacturing cost to establish selling prices. Calculate the selling prices for Job C and for Job M.

Reference no: EM131581709

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