! 7 of 151 Book Print rences Required information The Foundational 15 (Algo) [LO2-1, LO2-2, LO2-3, LO2-4] [The following information applies to the questions displayed below.] Sweeten Company had no jobs in progress at the beginning of the year and no beginning inventories. It started. completed, and sold only two jobs during the year-Job P and Job Q. The company uses a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, it estimated that 4,000 machine-hours would be required for the period's estimated level of production. Sweeten also estimated $33,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.70 per machine-hour. Because Sweeten has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following additional information to enable calculating departmental overhead rates: Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Molding Fabrication 2,500 $15,000 $ 3.40 1,500 $18,000 54.20 Total 4,000 $ 33,000 The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Direct materials Actual machine-hours used: Direct labor cost Molding Fabrication Job P $ 33,000 $ 37,000 Job 0 $ 18,000 $15,500 3,700 2,800 2,600 2,900 6,300 Total 5,700 Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year. Required: < Prev 7 8 9 15 of 15 Next >