Super Rat Machine Works, a manufacturing firm, manufactures sprockets for the Tree Bicycle company. The company uses a n

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Super Rat Machine Works, a manufacturing firm, manufactures
sprockets for the Tree Bicycle company. The company uses a normal
job-order costing system. Currently they are using a plantwide
overhead rate based on direct labour hours and are interested in
understanding the impact of moving to a departmental overhead rate
structure with Cutting and Finishing departments using direct
labour hours and Machining department using machine hours.
Management has provided the following data for its three
departments for the coming year.
Management estimates costs and activities for a job, Job 1, and
they need to provide a quote to their customer. The quote price
includes a 30% mark up on the cost of the job. Management estimates
are noted below.
Using the above information to answer the following
questions.
Calculate the departmental overhead rate for the Cutting
department.
Calculate the departmental overhead rate for the Machining
department.
Calculate the departmental overhead rate for the Finishing
department.
Using departmental overhead rates, calculate the bid price for
Job 1.