Managerial Accounting Term And job-costing system - Accounting and Finance Assignment Help

Assignment Task 

Question:

Carefeel, a manufacturing company uses job-costing system. The company plant has a  machining department and a finishing department. Carefeel uses normal costing with  two direct-cost categories (direct materials and direct manufacturing labour) and two  manufacturing overhead cost pools (the machining department with machine-hours as  the allocation base and the finishing department with direct manufacturing labour  costs as the allocation base). The 2018 budget for the plant is as follows:

Manufacturing overhead costs $9,065,000 $8,181,000

Direct manufacturing labour costs $ 970,000 $4,050,000

Direct manufacturing labour-hours 36,000 155,000

Machine-hours 185,000 37,000

(a). The President is aware that financial accounting focuses on reporting to outside  users while managerial accounting focuses on reporting to inside users. As an on going process, the company president wants you to perform the following so that the  president gets a fair picture of the company.

Required 

 (i). According to you what specific characteristics would one expects to see in  managerial accounting information? 

 (ii). Prepare the budgeted manufacturing overhead rate in the machining  department for Carefeel company?  

 (iii). Prepare the budgeted manufacturing overhead rate in the finishing  department for Carefeel company?

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