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Required information The Foundational 15 (Static) [LO2-1, LO2-2, LO2-3, LO2-4) (The following information applies to the questions displayed below.] Sweeten Company had no jobs in progress at the beginning of the year and no beginning inventories. It started, 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 $25,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $1.70 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 information to enable calculating departmental overhead rates: Molding Fabrication Total Estimated total machine-hours used 2,500 1,500 4.000 Estimated total fixed manufacturing overhead $ 10,000 $ 15,000 $ 25,000 Estimated variable manufacturing overhead per machine-hour $ 1.40 $ 2.20 The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Job P $ 13.000 $ 21,000 Job Q $ 8.000 $ 7,500 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 1,700 600 2.300 800 900 1,700 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 2-1 (Static) 1. What is the company's plantwide predetermined overhead rate? (Round your answer to 2 decimal places.) Predetermined overhead rate per MH Foundational 2-2 (Static) 2. How much manufacturing overhead was applied to Job P and how much was applied to Job Q? (Do not round intermediate calculations.) Job P Job Q Manufacturing overhead applied Foundational 2-3 (Static) 3. What is the total manufacturing cost assigned to Job P? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) Total manufacturing cost Foundational 2-4 (Static) 4. If Job P includes 20 units, what is its unit product cost? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) Unit product cost Foundational 2-5 (Static) 5. What is the total manufacturing cost assigned to Job Q? (Do not round intermediate calculations.) Total manufacturing cost Foundational 2-6 (Static) 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 Foundational 2-7 (Static) 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 JobQ Total price for the job Selling price per unit Foundational 2-8 (Static) 8. What is Sweeten Company's cost of goods sold for the year? (Do not round intermediate calculations.) Cost of goods sold