Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1) what is the company's pre determined overhead rate? 2) how much manufacturing overhead was applied to job P and Job Q? 3) what is

1) what is the company's pre determined overhead rate? 2) how much manufacturing overhead was applied to job P and Job Q? 3) what is the direct labour hourly wage rate? 4) what is the product cost per unit of job P? What is the total amount of manufacturing overhead cost assigned to job Q as of the end of march ( including applied overhead) 5) assume ending raw material inventory is 1000$ and the company does not use any indirect material. Please create journal entries to record raw materials purchases and the issuance of direct materials for use in production 6) assume that the company does not use any indirect labour. Please create journal entry to record the direct labour costs added to production. 7) please create journal entry to apply manufacturing overhead to production 8) assume the ending raw materials inventory is 1000$ and the company does not use any indirect materials. Please create costs of goods manufactured schedule.

image text in transcribed
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March-job P and job Q. Job P, consisting of 20 units, was completed and sold by the end of the March and job Q was still incomplete. The company uses a plantwide predetermined overhead rate based on direct labour-hours. The following additional information is available for the company as a whole and for jobs P and Q (all data and questions relate to the month of March): Estimated total fixed manufacturing overhead $12,000 Estimated variable manufacturing overhead per direct labour-hour $1.20 Estimated total direct labour-hours to be worked 2,000 Total actual manufacturing overhead costs incurred $13,500 Job P Job Q Direct materials $13,000 $8,000 Direct labour cost $21,000 $7,500 Actual direct labour-hours worked 1,400 500

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Horngrens Accounting

Authors: Tracie L. Miller nobles, Brenda L. Mattison, Ella Mae Matsumura

12th edition

9780134487151, 013448715X, 978-0134674681

Students also viewed these Accounting questions

Question

Gambling by student and professional athletes

Answered: 1 week ago