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
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 Estimated total machine-hours used 3,300 1,989 5,280 Estimated total fixed manufacturing overhead $13,200 $19,800 $33,000 Estimated variable manufacturing overhead per machine-hour $ 1.40 $ 2.20 Job P Job O $17,160 $10,560 $27,720 $ 9,900 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 2,210 790 3,000 1,060 1,220 2,280 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1-9, assume thot 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 10-15, 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

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

College Accounting A Practical Approach Chapters 1-25

Authors: Jeffrey Slater

12th Edition

013277206X, 978-0132772068

More Books

Students also viewed these Accounting questions