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Required information. The Foundational 15 [LO2-1, LO2-2, LO2-3, LO2-4] [The following information applies to the questions displayed below.] Sweeten Company had no jobs in progress
Required information. The Foundational 15 [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 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 $ 1.40 Fabrication. 1,500 $ 15,000 $ 2.20 Total 4,000 $ 25,000 Direct materials Job P $13,000 Direct labor cost $ 21,000 Job Q $ 8,000 $ 7,500 Actual machine-hours used: Molding 800 Fabrication Total 900 1,700 1,700 600 2,300 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. Foundational 2-11 (Static) 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 Foundational 2-12 (Static) 12. 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 Foundational 2-13 (Static) 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 Foundational 2-14 (Static) 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.) Total price for the job Selling price per unit Job P Job Q Foundational 2-15 (Static) 15. What was Sweeten Company's cost of goods sold for March? (Do not round intermediate calculations.) Cost of goods sold
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