Lotz Corporation has two manuf

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

 

  Casting Finishing Total
Estimated total machine-hours (MHs)   2,000   8,000   10,000
Estimated total fixed manufacturing overhead cost $ 10,200 $ 19,200 $ 29,400
Estimated variable manufacturing overhead cost per MH $ 1.20 $ 2.20    

 

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

 

  Job F Job K
Direct materials $ 14,400 $ 7,100
Direct labor cost $ 22,500 $ 6,600
Casting machine-hours   1,400   600
Finishing machine-hours   3,200   4,800

 

Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. Further assume that the company uses a markup of 50% on manufacturing cost to establish selling prices. The calculated selling price for Job F is closest to:

   
$96,100
   
$60,440
   
$30,220
   
$90,660
 
 
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Lotz Corporation has two manuf

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

 

  Casting Finishing Total
Estimated total machine-hours (MHs)   2,000   8,000   10,000
Estimated total fixed manufacturing overhead cost $ 10,200 $ 19,200 $ 29,400
Estimated variable manufacturing overhead cost per MH $ 1.20 $ 2.20    

 

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

 

  Job F Job K
Direct materials $ 14,400 $ 7,100
Direct labor cost $ 22,500 $ 6,600
Casting machine-hours   1,400   600
Finishing machine-hours   3,200   4,800

 

Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. Further assume that the company uses a markup of 50% on manufacturing cost to establish selling prices. The calculated selling price for Job F is closest to:

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