Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

7-14 please 8. what was sweeten company's cost of goods sold for March? 9. what were the company's predetermined overhead rates in the Molding Department

7-14 please image text in transcribed
8. what was sweeten company's cost of goods sold for March?
9. what were the company's predetermined overhead rates in the Molding Department and the fabrication dept?
10. how much manufacturing overhead was applied from the molding department to job P and how much was applied to job Q?
11. How much manufacturing overhead was applied from fabrication department to job P and how much was applied to job Q?
12. if job P included 20units, what was its unit produced cost?
13. if job Q included 30units, what was its unit produced cost?
Line Following wrormanon appes to the questions arsprayed below. 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 total 2,500 1,500 4,000 $13,250 $16,950 $30,200 $ 2.70 $ 3.50 Job $ 26,000 $31,400 Job $14,500 $12,700 Direct materials Direct labor cost Actual machine-hours used Molding Fabrication Total 3,000 1. 900 4,900 2,100 2,200 4,300 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine hours the allocation base. For questions 9.15, assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments. Foundational 2-7 7. 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 assuming 20 units were produced for Job P and 30 units were produced for Job Q? (Do not round Intermediate calculations. Round your final answers to nearest whole dollar.) Next > !! 15 of 18 8 9 7 Dray

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Sound Investing, Chapter 17 - Off-Balance-Sheet Shams

Authors: Kate Mooney

1st Edition

0071719393, 9780071719391

More Books

Students also viewed these Accounting questions

Question

Will something truly bad happen if I dont follow this value?

Answered: 1 week ago