Question
1)Assume that Sweeten Company used cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its
1)Assume that Sweeten Company used cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs. What selling price would the company have established for Jobs P and Q? What are the selling prices for both jobs when stated on a per unit basis? (Do not round intermediate calculations. Round your final answers to nearest whole dollar.) 2)What was Sweeten Companys cost of goods sold for March? (Do not round intermediate calculations.)
3)What was the companys plantwide predetermined overhead rate? (Round your answer to 2 decimal places.)
4)How much manufacturing overhead was applied to Job P and how much was applied to Job Q? (Do not round intermediate calculations.)
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. The company has two manufacturing departments-Molding and Fabrication. It started, completed, and sold only two jobs during March- Job P and Job Q. 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 machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Molding Fabrication 3,600 2,160 $14,400 $21,600 $ 1.40 $ 2.20 Total 5,760 $36,000 Job P $18,720 $30, 240 Job $11,520 $10,800 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 2,440 860 3,300 1,150 1,310 2,460 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the monthStep by Step Solution
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