Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

i need help Sweeten Company had nojobs in progress at the beginning of March and no beginning inventories. The company has two manufacturing departmentsMolding and

i need help

image text in transcribedimage text in transcribedimage text in transcribed
Sweeten Company had nojobs in progress at the beginning of March and no beginning inventories. The company has two manufacturing departmentsMolding and Fabrication. It started, completed. and sold only two jobs during March Job P and Job 0. The following additional information is available for the company as a whole and for Jobs P and 0 (all data and questions relate to the month of March): Molding Fabrication Total Estimated total machinehours used 4,299 2,529 6,729 Estimated total fixed manufacturing overhead $16,899 $25,299 $42,999 Estimated variable manufacturing overhead per machinehour $ 1.49 $ 2.29 I Job P Job Q Direct materials $21,849 $13,449 Direct labor cost $35,289 $12,699 Actual machinehours used: Molding 2,899 1,349 Fabrication 1,919 1,489 Total 3,999 2,829 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 179, assume that Sweeten Company uses departmental predetermined overhead rates with machineehours as the allocation base in both departments and Job P included 20 units and Job Q included 30 units. For questions 1015, assume that the company uses a plantwide predetermined overhead rate with machinehours as the allocation base. \\ 15. What was Sweeten Company's cost of goods sold for March? (Do not round intermediate calculations.) _3 Molding Fabrication Total Estimated total machine-hours used 4,299 2,529 6,729 Estimated total fixed manufacturing overhead $16,899 $25,299 $42,999 Estimated variable manufacturing overhead per machine-hour $ 1.49 $ 2.29 | Job P Job Q Direct materials $21,849 $13,449 Direct labor cost $35,289 $12,699 Actual machinehours used: Molding 2,899 1,349 Fabrication 1,919 1,489 Total 3,999 2,829 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 19, 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 0 included 30 units. For questions 1015, assume that the company uses a plantwide predetermined overhead rate with machinehours as the allocation base. 4. Assume that Sweeten Company used costplus pricing (and a markup percentage of 80% of total manufacturing cost] to establish elling prices for all of its jobs. What selling price would the company have established for Jobs P and Q? What are the selling prices 3r both jobs when stated on a per unit basis? {Do not round intermediate calculations. Round your nal answers to nearest whole |o|lar.} Total price for the job Selling price per unit Molding Fabrication Total Estimated total machine-hours used 4,299 2,529 6,729 Estimated total fixed manufacturing overhead $16,899 $25,299 $42,999 Estimated variable manufacturing overhead per machine-hour $ 1.49 $ 2.29 I Job P Job Q Direct materials $21,849 $13,449 Direct labor cost $35,289 $12,699 Actual machineihours used: Molding 2,999 1,349 Fabrication 1,919 1,489 Total 3,999 2,829 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 19, 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 0 included 30 units. For questions 1015, assume that the company uses a plantwide predetermined overhead rate with machinehours as the allocation base. 3. Assume that Sweeten Company used costplus 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 bothjobs when stated on a per unit basis? {Do not round intermediate calculations. Round your nal answers to nearest whole :lollar.} Total price for the job Selling price per unit

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

Accounting Principles

Authors: Jerry J Weygandt

10th Edition

1118009282, 9781118009284

More Books

Students also viewed these Accounting questions