Posson Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on 20,000 machine-hours, total fixed manufacturing overhead cost of $130,000, and a variable manufacturing overhead rate of $3.00 per machine-hour. Job K789, which was for 10 units of a custom product, was recently completed. The job cost sheet for the job contained the following data:
Required:
a. Calculate the predetermined overhead rate for the year.
b. Calculate the amount of overhead applied to Job K789.
c. Calculate the total job cost for Job K789.
d. Calculate the unit product cost for Job K789.
Definitions:
Timely Decisions
The action of making choices or judgments at the right moment to avoid delay and capitalize on effectiveness.
Group Goals
Objectives or targets set by a group that are intended to be achieved collectively.
Team Building Exercises
Activities designed to strengthen the relationships and improve the cohesion and performance of a team.
Blame
The act of holding someone responsible for a fault or wrongdoing.
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