Temby Corporation Uses a Job-Order Costing System with a Single

question 34

Essay

Temby 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 10,000 machine-hours, total fixed manufacturing overhead cost of $88,000, and a variable manufacturing overhead rate of $3.20 per machine-hour. Job K418, which was for 50 units of a custom product, was recently completed. The job cost sheet for the job contained the following data:
Required:
a. Calculate the estimated total manufacturing overhead for the year.
b. Calculate the predetermined overhead rate for the year.
c. Calculate the amount of overhead applied to Job K418.
d. Calculate the total job cost for Job K418.
e. Calculate the unit product cost for Job K418.
f. Calculate the selling price for Job K418 if the company marks up its unit product costs by 30%.

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Definitions:

Personal Resources

Refers to the personal strengths and assets at an individual's disposal, including mental, emotional, physical, and financial resources.

Social Support Network

A social support network consists of family, friends, and peers who provide emotional, informational, and practical support during times of need.

Older Americans

A demographic term referring to individuals in the United States generally aged 65 years and older.

Institutions

Structures or mechanisms of social order and cooperation governing the behavior of a set of individuals within a given human colony.