Compute the plantwide predetermined overhead rate

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Moody Corporation 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 150,000

Fixed manufacturing overhead cost $653,000

Variable manufacturing overhead cost per machine-hour$ 4.60

Required:

Problem 1. Compute the plantwide predetermined overhead rate.

Problem 2. During the year, Job 400 was started and completed. The following information was available with respect to this job:

Direct materials$ 360

Direct labor cost$ 260

Machine-hours used31

Compute the total manufacturing cost assigned to Job 400.

Reference no: EM132976876

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