Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Accounting help! 1. Assume that Sweeten Company used cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish selling prices for

Accounting help!image text in transcribed1. 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?

Total price for job P? Total price for job Q? Selling price per unit for Job P? Selling price per unit for Job Q?

2. What was Sweeten Companys cost of goods sold for March?

3. What were the companys predetermined overhead rates in the Molding Department and the Fabrication Department (per MH)?

Required information The Foundational 15 [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 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): Molding Fabrication Total 4,000 $10,250 $15,150 $25, 400 2,500 1,500 Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour $ 1.50 2.30 Job Q $14,000 $8,500 $21,800 $7,900 Job P Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 1,800 900 700 1,000 2,500 1300 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month

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_2

Step: 3

blur-text-image_3

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

Fundamentals Of IT Audit For Operational Auditors

Authors: Timothy McWilliams

1st Edition

1634541332, 978-1634541336

More Books

Students also viewed these Accounting questions