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Landen Corporation uses a job-order costing system. At the beginning of the year, the company made the following estimates:Direct labor-hours required to support estimated production 75,000Machine-hours required to support estimated production 37,500Fixed manufacturing overhead cost$225,000Variable manufacturing overhead cost per direct labor-hour$1.60Variable manufacturing overhead cost per machine-hour$3.20During the year, Job 550 was started and completed. The following information is available with respect to this job:Direct materials$178Direct labor cost$225Direct labor-hours 15Machine-hours 5Required:1. Assume that Landen has historically used a plantwide predetermined overhead rate with direct labor-hours as the allocation base. Under this approach:a. Compute the plantwide predetermined overhead rate.b. Compute the total manufacturing cost of Job 550.c. If Landen uses a markup percentage of 200% of its total manufacturing cost, what selling price would it establish for Job 550?2. Assume that Landens controller believes that machine-hours is a better allocation base than direct labor-hours. Under this approach:a. Compute the plantwide predetermined overhead rate.b. Compute the total manufacturing cost of Job 550.c. If Landen uses a markup percentage of 200% of its total manufacturing cost, what selling price would it establish for Job 550?(Round your intermediate calculations to 2 decimal places. Round your Predetermined Overhead Rate answers to 2 decimal places and all other answers to the nearest whole dollar.)