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Luarca Corporation has two manufacturing departments--Casting and Customizing. The company used the ...

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Luarca Corporation has two manufacturing departments--Casting and Customizing. The company used the ...

Luarca Corporation has two manufacturing departments--Casting and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates:

	Casting	Customizing	Total
Estimated total machine-hours (MHs)	2,000	3,000	5,000
Estimated total fixed manufacturing overhead cost	$11,600	$7,200	$18,800
Estimated variable manufacturing overhead cost per MH	$ 1.90	$ 2.80

During the most recent month, the company started and completed two jobs--Job F and Job L. There were no beginning inventories. Data concerning those two jobs follow:

	Job F	Job L
Direct materials	$10,600	$6,600
Direct labor cost	$24,400	$8,600
Casting machine-hours	1,400	600
Customizing machine-hours	1,200	1,800

Required:

Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 50% on manufacturing cost to establish selling prices. Calculate the selling prices for Job F and Job L.

Textbook

Introduction to Managerial Accounting: Brewer Edition: 9e

Edition: 9^th

Authors: Brewer, Garrison, Noreen

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