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Answer the Question below please - Typed Here not as a picture of hand writing solution please Sweeten Company had no jobs in progress at
Answer the Question below please - Typed Here not as a picture of hand writing solution please
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 was completed and sold by the end of the March and Job Q was incomplete at the end of the March. The company uses a plantwide predetermined overhead rate based on direct labor-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 $10,000 Estimated variable manufacturing overhead per direct $1.00 labor-hour Estimated total direct labor-hours to be worked 2,000 Total actual manufacturing overhead costs incurred $12,500 Job Q. Direct materials Direct labor cost Actual direct labor-hours worked Job P $13,000 $21,000 1,400 $8,000 $7,500 500 Required: 1. What is the company's predetermined overhead rate? 2. How much manufacturing overhead was applied to Job P and Job Q? 3. What is the direct labor hourly wage rate? 4. If Job P includes 20 units, what is its unit product cost? What is the total amount of manufacturing cost assigned to Job Q as of the end of March (including applied overhead)? 5. Assume the ending raw materials inventory is $1,000 and the company does not use any indirect materials. Prepare the 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 labor. Prepare the journal entry to record the direct labor costs added to production. 7. Prepare the journal entry to apply manufacturing overhead costs to production. Solution 4
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