Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Required information [The following information applies to the questions displayed below) Sweeten Company had no jobs in progress at the beginning of March and no

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Required information [The following information applies to the questions displayed below) 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): Molding Fabrication Total Entimated total machine-hours uped 4,300 2,580 6,880 Estimated total fixed manufacturing overhead $ 17,200 $ 25,800 $ 43,000 Estimated variable manufacturing overhead por $ 1.40 $ 2.20 machine-hour Job P Job Direct materials $ 22,360 $ 13,760 Direct labor cost $ 36,120 $ 12,900 Actual machine-hours goed Molding 2,970 1,380 Fabrication 1,030 1,500 Total 4,000 2,880 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 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. that the remnanule nrarletermined verheart rates in the Molding Department and the Fabrication Department? (Round your Lindational 15 Saved Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Molding 4,300 $ 17,200 $ 1.40 Fabrication 2,580 $ 25,800 $ 2.20 Total 6,880 $ 43,000 Job P Job O $ 22, 360 $ 13,760 $ 36, 120 $ 12,900 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 2,970 1,030 4,000 1,380 1,500 2,880 Sweeten Company had no underappled 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 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, es 1. What were the company's predetermined overhead rates in the Molding Department and the Fabrication Department? (Round your answers to 2 decimal places.) Molding Department Fabrication Department Predetermined Overhead Rate per MH per MH Fabrication 2,580 $ 25,800 $ 2.20 Total 6,880 $ 43,000 Molding Estimated total machine-hours used 4,300 Estimated total fixed manufacturing overhead $ 17,200 Estimated variable manufacturing overhead per $ 1.40 machine-hour Job P Job O Direct materials $ 22,360 $ 13,760 Direct labor cost $ 36,120 $ 12,900 Actual machine-hours used: Molding 2,970 1,380 Fabrication 1.030 1,500 Total 4,000 2,880 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 base. 2. How much manufacturing overhead was applied from the Molding Department to Job P and how much was applied to Job Q? (Do not round intermediate calculations.) Job P Job a Manufacturing overhead applied Molding 4,300 $ 17,200 $ 1.40 Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Fabrication 2,580 $ 25,800 $ 2.20 Total 6,880 $ 43,000 Job P Job 0 $ 22,360 $ 13,760 $36, 120 $ 12,900 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 2,970 1,030 4,000 1,380 1,500 2,880 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 base 3. How much manufacturing overhead was applied from the fabrication Department to Job P and how much was applied to Job O? (Do not round intermediate calculations.) Job P Job a Manufacturing overhead applied AW TUTULUMU MWINY IM. UVILULUI. SLICU, TIPICICU, IU JUIU UHy www JJ MUITY HUI! 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): Molding Pabrication 4,300 2,580 $ 17,200 $ 25,800 $ 1.40 $ 2.20 Total 6,880 $ 43,000 Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Job P Job O $ 22,360 $ 13,760 $ 36, 120 $ 12,900 Direct materials Direct labor cost Actual machine-hours uned! Molding Fabrication Total 2,970 1,030 4,000 1,380 1,500 2,880 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 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. 4. What was the total manufacturing cost assigned to Job P? (Do not round intermediate calculations.) Total manufacturing cost Uw UJU VRUTY WULICI HUUUUIS UVUNOVIC IVI Munyusu WIVIC URU IVI VUWS data and questions relate to the month of March): Molding 4,300 $ 17,200 $ 1.40 Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Fabrication 2,580 $ 25,800 $ 2.20 Total 6,880 $ 43,000 Job P Job O $ 22,360 $ 13,760 $. 36, 120 $ 12,900 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 2,970 1.030 4,000 1,380 1,500 2,880 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 base. 5. If Job P included 20 units, what was its unit product cost? (Do not round intermediate calculations. Round your final answer to nearest whole dollar) Unit product cost LUMILY por MEWUTY UHU UULUUUHI. SLICU, LIMCICU, UN JUU YA JUMS uury II 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): Molding 4,300 $ 17,200 $ 1.40 Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Fabrication 2,580 $ 25,800 $ 2.20 Total 6,880 $ 43,000 Job P Job O $ 22, 360 $ 13,760 $ 36, 120 $ 12,900 Direct materials Direct labor cont Actual machine-hours used: Molding Fabrication Total 2,970 1,030 4,000 1,380 1,500 2,880 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 base. 6. What was the total manufacturing cost assigned to Job Q? (Do not round intermediate calculations.) Total manufacturing cost 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): Molding Fabrication Total Estimated total machine-hours used 4,300 2,580 6,880 Estimated total fixed manufacturing overhead $ 17,200 $ 25,800 $ 43,000 Estimated variable manufacturing overhead per $ 1.40 $ 2.20 machine-hour Job P Job 0 $ 22,360 $ 13,760 $ 36,120 $ 12,900 Direct materials Direct labor cont Actual machine-hours used: Molding Fabrication Total 2,970 1,030 4,000 1,380 1,500 2,880 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. 7. Job Q included 30 units, what was its unit product cost? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) Unit product cost 13, VVU DU COLALIU manu BLUE LUG Uvuta Estimated variable manufacturing overhead per machine-hour 4, ovv $ 2.20 $ 1.40 Job P Job O $ 22,360 $ 13,760 $ 36,120 $ 12,900 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 2,970 1,030 4,000 1,380 1,500 2,880 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 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 Total price for the job Selling price per unit 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 4,300 $ 17,200 $ 1.40 Fabrication 2,580 $ 25,800 $ 2.20 Total 6,880 $ 43,000 Job P Job O $ 22,360 $ 13,760 $ 36,120 $ 12,900 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 2,970 1,030 4,000 1,380 1,500 2,880 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 base. 9. What was Sweeten Company's cost of goods sold for March? (Do not round intermediate calculations.) Cost of goods sold WU RTVOLLY Wepulunuyun. ULULUI, BURCU, LUPICIU, NU JUIU UIN vrvju un UICI 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): Molding Fabrication Total Estimated total machine-hours used 4,300 2,580 6,880 Estimated total fixed manufacturing overhead $ 17,200 $ 25,800 $ 43,000 Estimated variable manufacturing overhead per $ 1.40 $ 2.20 machine-hour Job P Job O $ 22,360 $ 13,760 $ 36,120 $ 12,900 Direct materials Direct labor cost Actual machine-hours used Molding Fabrication Total 2,970 1,030 4,000 1,380 1,500 2,880 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 base 10. What was the company's plantwide predetermined overhead rate? (Round your answer to 2 decimal places.) Predetermined overhead rate per MH Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Molding 4,300 $ 17,200 $ 1.40 Fabrication 2,580 $ 25,800 $ 2.20 Total 6,880 $ 43,000 Job P $ 22,360 $ 36, 120 Job O $ 13, 760 $ 12,900 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 2,970 1,030 4,000 1,380 1,500 2,880 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 base. 11. 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 JUU JUU.VHUHTY UUUUUUUUUU UVUVICIU LIELU U U U U U UI JUUS! UU UH data and questions relate to the month of March): Molding 4,300 $ 17,200 $ 1.40 Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Fabrication 2,580 $ 25,800 $ 2.20 Total 6,880 $ 43,000 Job P $ 22,360 $ 36, 120 Job O $ 13,760 $ 12,900 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 2,970 1,030 4,000 1,380 1,500 2,880 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 base. 12.14 Job P Included 20 units, what was its unit product cost? (Do not round intermediate calculations. Round your final answer to nearest whole dollar) Unit product cout -1 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 4,300 $ 17,200 $ 1.40 Fabrication 2,580 $ 25,800 $ 2.20 Total 6,880 $ 43,000 Job P $ 22,360 $ 36,120 Job O $ 13,760 $ 12,900 Direct materials Direct labor cost Actual machine-hours used Molding Fabrication Total 2,970 1,030 4,000 1,380 1,500 2,880 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 base 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.) Unit product cost Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Molding 4,300 $ 17,200 $ 1.40 Fabrication 2,580 $ 25,800 $ 2.20 Total 6,880 $ 43,000 Job P $ 22,360 $ 36, 120 Job O $ 13,760 $ 12,900 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 2,970 1,030 4,000 1,380 1,500 2,880 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 base. 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 a Total price for the job Selling price per unit AVU MULT VeurCIWIHTYMI UNICULUIT, SWITCU, CUPLU, ITU JUU ily wojs un IUI Job P and Job Q. The following additional information is available for the company as a whole and for Jobs P and Q (a a data and questions relate to the month of March): Molding Fabrication 4,300 2,580 $ 17,200 $ 25,800 $ 1.40 $ 2.20 Total 6,880 $ 43,000 Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Job P $ 22,360 $ 36, 120 Job O $ 13,760 $ 12,900 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 2,970 1,030 4,000 1,380 1,500 2,880 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 base 15. What was Sweeten Company's cost of goods sold for March? (Do not round intermediate calculations.) Cont 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

Students also viewed these Accounting questions

Question

=+b. For what values of r will se be much smaller than sy?

Answered: 1 week ago