Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Sweeten Company had no jobs in progress at the beginning of the year and no beginning inventories. It started, completed, and sold only two jobs

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Sweeten Company had no jobs in progress at the beginning of the year and no beginning inventories. It started, completed, and sold only two jobs during the year-Job P and Job Q. The company uses a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, it estimated that 4,000 machine-hours would be required for the period's estimated level of production. Sweeten also estimated $27,400 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.30 per machine-hour. Because Sweeten has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following additional information to enable calculating departmental overhead rates: The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year. 1. What is the company's plantwide predetermined overhead rate? (Round your answer to 2 dec 2. How much manufacturing overhead was applied to Job P and how much was applled to Job O? (Do n calculetions.) 3. What is the total manufacturing cost assigned to Job P? nearest whole dollar.) 4. If Job P includes 20 units, what is its unit product cost? (Do r nearest whole dollar.) 5. What is the total manufacturing cost assigned to Job Q? (Do

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

Managerial Accounting Method And Meaning Teachers Guide

Authors: R.M.S. Wilson

2nd Edition

0412436205, 978-0412436208

More Books

Students also viewed these Accounting questions

Question

Explain how cultural differences affect business communication.

Answered: 1 week ago

Question

List and explain the goals of business communication.

Answered: 1 week ago