Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories It started only two jobs during MarchJob P and Job Q Job P was completed and sold by the end of the March and Job Q was incomplete at the end of the March The company uses a plantwide predetermined overhead rate based on direct labor hours 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 fixed manufacturing overhead $ 14,400 Estimated variable manufacturing overhead per direct labor hour $ 1 50 Estimated total direct labor hours to be worked 3,600 Total actual manufacturing overhead costs incurred $ 19,500 Job P Job Q Direct materials $ 15,000 $ 9,600 Direct labor cost $ 40,500 $ 12,000 Actual direct labor hours worked 2,700 800 1 What is the company's predetermined overrhead rate 2 How much manufacturing over head was applied to Job P Job Q 3 Assume that ending raw materials inventory is $2,600 and the company does not use any indirect materials Prepare the journa entries to record new raw materials purchases and the issuance of direct materials for use in production 4 Assume that the company does not use any indirect labor Prepare the journal entry to record the direct labor costs added to production 5 Prepare the journal entry to apply manufacturing over head costs to production 6 Assume the ending raw materials inventory is $2,600 and the company does not use any indirect materials Prepare schedule of cost of goods manufactured 7 Prepare the journal entry to transfer costs from Work in Progress to finished goods 8 Prepare a completed Work in Process T account including the beginning and ending balances and all debits and credits posted to the account 9 Prepare a schedule of cost of goods sold 10 Prepare the journal entry to transfer costs from Finished Goods to Cost of Goods Sold 11 What is the amount of underapplied or overapplied overhead 12 Prepare the journal entry to close the amount of underapplied or overapplied overhead to Cost of Goods Sold 13 Assume that Job P includes 35 units that each sell for $2,600 and that the companys selling and administrative expenses in March were $13,000 Prepare an absorption costing income statement for March

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Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during MarchJob P and

Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during MarchJob P and Job Q. Job P was completed and sold by the end of the March and Job Q was incomplete at the end of the March. The company uses a plantwide predetermined overhead rate based on direct labor-hours. 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 fixed manufacturing overhead	$	14,400
Estimated variable manufacturing overhead per direct labor-hour	$	1.50
Estimated total direct labor-hours to be worked		3,600
Total actual manufacturing overhead costs incurred	$	19,500

	Job P		Job Q
Direct materials	$	15,000	$	9,600
Direct labor cost	$	40,500	$	12,000
Actual direct labor-hours worked		2,700		800
1. What is the company's predetermined overrhead rate? 2. How much manufacturing over head was applied to Job P? Job Q? 3. Assume that ending raw materials inventory is $2,600 and the company does not use any indirect materials. Prepare the journa; entries to record new raw materials purchases and the issuance of direct materials for use in production. 4. Assume that the company does not use any indirect labor. Prepare the journal entry to record the direct labor costs added to production. 5. Prepare the journal entry to apply manufacturing over head costs to production.

6. Assume the ending raw materials inventory is $2,600 and the company does not use any indirect materials. Prepare schedule of cost of goods manufactured. 7. Prepare the journal entry to transfer costs from Work in Progress to finished goods

8. Prepare a completed Work in Process T-account including the beginning and ending balances and all debits and credits posted to the account.

9. Prepare a schedule of cost of goods sold.

10. Prepare the journal entry to transfer costs from Finished Goods to Cost of Goods Sold.

11. What is the amount of underapplied or overapplied overhead?

12. Prepare the journal entry to close the amount of underapplied or overapplied overhead to Cost of Goods Sold.

13. Assume that Job P includes 35 units that each sell for $2,600 and that the companys selling and administrative expenses in March were $13,000. Prepare an absorption costing income statement for March.