Taveras Corporation is currently operating at 50% of its available manufacturing capacity. It uses a...
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Accounting
Taveras Corporation is currently operating at 50% of its available manufacturing capacity. It 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 | 175,000 |
|---|---|
| Fixed manufacturing overhead cost | $ 2,450,000 |
| Variable manufacturing overhead cost per machine-hour | $ 2.00 |
Required:
1. Compute the plantwide predetermined overhead rate.
2. During the year, Job P90 was started, completed, and sold to the customer for $2,600. The following information was available with respect to this job:
| Direct materials | $ 1,196 |
|---|---|
| Direct labor cost | $ 858 |
| Machine-hours used | 74 |
Compute the total manufacturing cost assigned to Job P90.
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