Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Old MathJax webview Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. The company has two manufacturing departments-Molding

Old MathJax webview

image text in transcribed

image text in transcribed

image text in transcribed

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 March- Job 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): Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Molding 2,500 $ 10,000 Fabrication 1,500 $ 15,000 $ 2.20 Total 4,000 $ 25,000 $ 1.40 Job P $ 13,000 $ 21,000 Job Q $ 8,000 $ 7,500 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication 1,700 600 2,300 800 900 1,700 Total 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 Pincluded 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 hace Fabrication Total 600 2,300 900 1,700 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. 1. What were the company's predetermined overhead rates in the Molding Department and the Fabrication Department? (Round your answers to 2 decimal places.) Predetermined Overhead Rate per MH Molding Department Fabrication Department per MH 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 Pincluded 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. 3. How much manufacturing overhead was applied from the Fabrication Department to Job P and how much was applied to Job Q? (Do not round intermediate calculations.) Job P Job Q Manufacturing overhead applied

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

More Books

Students also viewed these Accounting questions

Question

What steps does the auditor conduct to identify related parties?

Answered: 1 week ago

Question

Timeline for final evaluation

Answered: 1 week ago

Question

How will it be used?

Answered: 1 week ago