Business, 11.02.2020 01:45 KariSupreme

Hultquist Corporation has two manufacturing departments--Forming and Customizing. The company used the following data at the beginning of the period to calculate predetermined overhead rates:Forming Customizing TotalEstimated total machine-hours (MHs) 7,000 3,000 10,000Estimated total fixed manufacturing overhead cost $25,900 $7,200 $33,100Estimated variable manufacturing overhead cost per MH $2.50 $5.00 During the period, the company started and completed two jobs--Job C and Job L. Data concerning those two jobs follow:Job C Job LDirect materials $16,900 $10,300Direct labor cost $23,600 $10,600Forming machine-hours 1,250 2,000Customizing machine-hours 1,250 500Required:a. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate that overhead rate. (Round your answer to 2 decimal places.)b. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the amount of manufacturing overhead applied to Job L. (Do not round intermediate calculations.)c. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate the total manufacturing cost assigned to Job L. (Do not round intermediate calculations.)d. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 20% on manufacturing cost to establish selling prices. Calculate the selling price for Job L.

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Hultquist Corporation has two manufacturing departments--Forming and Customizing. The company used t...