Sorrentino Industries manufactures a variety of custom products. The company Expected usage and costs for manufacturing overhead activities for the upcominghas traditionally used a plantwide manufacturing overhead rate based on machine year are as follows: hours to allocate manufacturing overhead to its products. The company estimates a (Click the icon to view the expected usage and costs.) that it will incur $1,920,000 in total manufacturing overhead costs in the upcoming year and will use 15 000 machine hours. During the year, Job 355 is started and completed. Usage for this job follows: 0 Click the icon to view the additional information about the hazardous waste E (CHCK the icon to View the usage for Job 355′) disposal fees.) Read the muirements. Requirement 1. Calculate the cost of Job 355 using the traditional plantwide manufacturing overhead rate based on machine hours. Begin by calculating the plantwide overhead rate. First identify the formula used to compute the plantwide overhead rate, then compute the rate. (Abbreviations used:MOH = manufacturing overhead; mfg. = manufacturing) I = Plantwide mfg. overhead rate
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