Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed
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 2,500 1,500 4,000 Estimated total fixed manufacturing overhead $13,250 $16,950 $30,200 Estimated variable manufacturing overhead per machine-hour $ 2.70 $ 3.50 Job P $26,000 $31,400 Job 0 $14,500 $12,700 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 3,000 1,900 4,900 2,100 2,200 4,300 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. For questions 9-15, assume that the company uses departmental predetermined overied rates with machine-hours as the allocation base in both departments 8. What was Sweeten Company's cost of goods sold for March? (Do not round intermediate calculations.) Cost of goods sold 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 2,500 1,500 4,000 Estimated total fixed manufacturing overhead $13,250 $16,950 $30,200 Estimated variable manufacturing overhead per machine-hour $ 2.70 $ 3.50 Job P $26,000 $31,400 Job 0 $14,500 $12,700 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 3,000 1,900 4,900 2,100 2,200 4,300 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. For questions 9-15, assume that the company uses departmental predetermined overied rates with machine-hours as the allocation base in both departments 8. What was Sweeten Company's cost of goods sold for March? (Do not round intermediate calculations.) Cost 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

Recommended Textbook for

More Books

Students also viewed these Accounting questions

Question

Evaluate three pros and three cons of e-prescribing

Answered: 1 week ago