Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

HELP!! Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Molding Fabrication 3,700 2,220 $14,800 $22,200 $ 1.40 $

image text in transcribed

HELP!!

Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Molding Fabrication 3,700 2,220 $14,800 $22,200 $ 1.40 $ 2.29 Total 5,920 $37,000 Job P $19, 240 $31,080 Job Q $11,840 $11,100 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 2,510 890 3,400 1,180 1,340 2,520 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1-9, 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 10-15, 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 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 9. What was Sweeten Company's cost of goods sold for March? (Do not round intermediate calculations.) 10. What was the company's plantwide predetermined overhead rate? (Round your answer to 2 decimal places.) Predetermined overhead rate per MH 13. If Job Q included 30 units, what was its unit product cost? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) 14. 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? (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 15. What was Sweeten Company's cost of goods sold for March? (Do not round intermediate calculations.) Cost of goods sold

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

Managerial Accounting The Cornerstone Of Business Decision-making, , (6 Months)

Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

7th Edition

1337115924, 9781337115926

More Books

Students also viewed these Accounting questions

Question

What information remains to be obtained?

Answered: 1 week ago

Question

How reliable is this existing information?

Answered: 1 week ago

Question

How appropriate would it be to conduct additional research?

Answered: 1 week ago