Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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 fall data and questions relate to the month of March) Estimated total machine-hours used i Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Direct materials Direct labor cost actual machine-hours usedi Folding Pabrication Total Folding 3,700 114,30 $ 1.40 Fabricatson Totw 5,939 5 22,200 $ 37,800 300F Job Q $10,340 $31,000 $11,00 $11,100 3,100 200 3,400 3,340 2,539 Sweeten Company had no under applied or over applied 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 2-8 (Algo) 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.) Total price for the job Selling price per unit Job F Juba

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

The Effective Controller In The 21st Century Accounting Strategies For Business Management

Authors: Yanyong Thammatucharee

1st Edition

1439217424, 978-1439217429

More Books

Students also viewed these Accounting questions