# 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

# 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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