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Find the plantwide predetermined overhead rate

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Reference no: EM132502662

Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates:

Direct labor-hours required to support estimated production 95,000

Machine-hours required to support estimated production 47,500

Fixed manufacturing overhead cost $266,000

Variable manufacturing overhead cost per direct labor-hour $2.60

Variable manufacturing overhead cost per machine-hour $5.20

During the year, Job 550 was started and completed. The following information is available with respect to this job:

Direct materials $273

Direct labor cost $237

Direct labor-hours 15

Machine-hours 5

Question 1: If assume that Landen has historically used a plantwide predetermined overhead rate with direct labor-hours as the allocation base. Under this approach:

a. Help me Compute the plantwide predetermined overhead rate.

b. Help me Compute the total manufacturing cost of Job 550.

c. If Landen uses a markup percentage of 200% of its total manufacturing cost, help me determine what the selling price would it establish for Job 550?

Reference no: EM132502662

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