Based on machine-hours. At the beginning of the year, it estimated that 4,000 machine-hours would be...
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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 $31,400 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.30 per machine-hour. Because Swee as two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate w 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 2,500 $ 14,000 $ 3.00 Fabrication 1,500 Total $ 17,400 $ 3.80 4,000 $ 31,400 The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Direct materials Direct labor cost Actual machine-hours used: Fabrication Molding Total Job P $ 29,000 $ 33,800 Job O $ 16,000 $ 13,900 3,300 2,400 2,200 2,500 5,500 4,900 Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year. Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. For questions, 9-15, assume that the company uses predetermined departmental overhead rates with machine-hours as the allocation base in both departments. Foundational 2-6 (Algo) 6. If Job Q includes 30 units, what is its unit product cost? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) Unit product cost Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Molding 2,500 Fabrication $ 3.00 1,500 $ 17,400 $ 3.80 $ 14,000 Total 4,000 $ 31,400 The direct terials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Job P $ 29,000 Job Q $ 16,000 $ 33,800 $ 13,900 3,300 2,400 2,200 5,500 2,500 4,900 Total Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year. Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. For questions, 9-15, assume that the company uses predetermined departmental overhead rates with machine-hours as the allocation base in both departments. Foundational 2-7 (Algo) 7. Assume that Sweeten Company uses cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs. If Job P includes 20 units and Job Q includes 30 units, what selling price would the company establish 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.) Job P Job Q Total price for the job. Selling price per unit 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 $31,400 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.30 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 mation to enable calculating departmental overhead rates: Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Total 4,000 Molding 2,500 $ 14,000 $ 3.00 Fabrication 1,500 $ 17,400 $ 3.80 $ 31,400 The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Job P $ 29,000 Job 0 $ 16,000 $ 33,800 $13,900 3,300 2,400 2,200 2,500 5,500 4,900 Total Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year. Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. For questions, 9-15, assume that the company uses predetermined departmental overhead rates with machine-hours as the allocation base in both departments. Foundational 2-8 (Algo) 8. What is Sweeten Company's cost of goods sold for the year? (Do not round intermediate calculations.) Cost of goods sold 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 $31,400 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.30 per machine-hour. Because Swee as two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate w 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 2,500 $ 14,000 $ 3.00 Fabrication 1,500 Total $ 17,400 $ 3.80 4,000 $ 31,400 The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Direct materials Direct labor cost Actual machine-hours used: Fabrication Molding Total Job P $ 29,000 $ 33,800 Job O $ 16,000 $ 13,900 3,300 2,400 2,200 2,500 5,500 4,900 Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year. Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. For questions, 9-15, assume that the company uses predetermined departmental overhead rates with machine-hours as the allocation base in both departments. Foundational 2-6 (Algo) 6. If Job Q includes 30 units, what is its unit product cost? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) Unit product cost Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Molding 2,500 Fabrication $ 3.00 1,500 $ 17,400 $ 3.80 $ 14,000 Total 4,000 $ 31,400 The direct terials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Job P $ 29,000 Job Q $ 16,000 $ 33,800 $ 13,900 3,300 2,400 2,200 5,500 2,500 4,900 Total Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year. Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. For questions, 9-15, assume that the company uses predetermined departmental overhead rates with machine-hours as the allocation base in both departments. Foundational 2-7 (Algo) 7. Assume that Sweeten Company uses cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs. If Job P includes 20 units and Job Q includes 30 units, what selling price would the company establish 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.) Job P Job Q Total price for the job. Selling price per unit 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 $31,400 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.30 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 mation to enable calculating departmental overhead rates: Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Total 4,000 Molding 2,500 $ 14,000 $ 3.00 Fabrication 1,500 $ 17,400 $ 3.80 $ 31,400 The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Job P $ 29,000 Job 0 $ 16,000 $ 33,800 $13,900 3,300 2,400 2,200 2,500 5,500 4,900 Total Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year. Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. For questions, 9-15, assume that the company uses predetermined departmental overhead rates with machine-hours as the allocation base in both departments. Foundational 2-8 (Algo) 8. What is Sweeten Company's cost of goods sold for the year? (Do not round intermediate calculations.) Cost of goods sold
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