Vasilopoulos Corporation Has Two Production Departments, Casting and Assembly

Essay

Vasilopoulos Corporation has two production departments, Casting and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Casting Department's predetermined overhead rate is based on machine-hours and the Assembly Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates:
During the current month the company started and finished Job A182. The following data were recorded for this job:
Required:
a. Calculate the estimated total manufacturing overhead for the Casting Department.
b. Calculate the estimated total manufacturing overhead for the Assembly Department.
c. Calculate the predetermined overhead rate for the Casting Department.
d. Calculate the predetermined overhead rate for the Assembly Department.
e. Calculate the total amount of overhead applied to Job A182 in both departments.
f. Calculate the total job cost for Job A182.
g. Calculate the selling price for Job A182 if the company marks up its unit product costs by 20% to determine selling prices.