Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication

Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total Job P $ 17,160 $ 27,720 2,210 790 3,000 Job Q $ 10,560 $ 9,900 1,060 1,220 2,280 X Answer is complete but not entirely correct. Cost of goods sold $ 111,804 X Molding 3,300 $ 13,200 $ 1.40 Total Fabrication 1,980 5,280 $ 19,800 $ 33,000 $2.20 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1 to 9, assume that Sweeten Company uses departmental predetermined overhead rates with machine- hours as the allocation base in both departments and Job P included 20 units and Job Q included 30 units. For questions 10 to 15, assume that the company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. 9. What was Sweeten Company's cost of goods sold for March? (Do not round intermediate calculations.)
image text in transcribed
image text in transcribed
Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1 to 9, assume that Sweeten Company uses departmental predetermined overhead rates with machinehours as the allocation base in both departments and Job P included 20 units and Job Q included 30 units. For questions 10 to 15, assume that the company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. 9. What was Sweeten Company's cost of goods sold for March? (Do not round intermediate calculations.) 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 MarchJob 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): Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1 to 9, assume that Sweeten Company uses departmental predetermined overhead rates with machinehours as the allocation base in both departments and Job P included 20 units and Job Q included 30 units. For questions 10 to 15 , assume that the company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. 8. 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 or both jobs when stated on a per unit basis? (Do not round intermediate calculations. Round your final answers to nearest whole dollar.)

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

Computer Aided Fraud Prevention And Detection A Step By Step Guide

Authors: David Coderre

1st Edition

0470392436, 978-0470392430

More Books

Students also viewed these Accounting questions