Answered step by step
Verified Expert Solution
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.
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): Total Estimated total machine-hours used Molding 2,500 Fabrication 1,500 4,000 Estimated total fixed manufacturing overhead $14,250 $17,550 $31,000 Estimated variable manufacturing overhead per machine-hour $ 3.10 $ 3.90 Job P Job Q Direct materials Direct labor cost $30,000 $16,500 $34,600 $14,300 Actual machine-hours used: Molding 3,400 2,500 Fabrication 2,300 2,600 Total 5,700 5,100 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1-9, 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 10-15. assume that the company uses a plantwide predetermined overhead rate with machine-hours as the allocation base 9. What was Sweeten Company's cost of goods sold for March? (Do not round intermediate c Cost of goods sold 10. What was the company's plantwide predetermined overhead rate? (Round your answer to 2 decimal places. Predetermined overhead rate per MH 11. How much manufacturing overhead was applied to Job P and how much was applied to Job Q? (Do not round int calculations.) Job P Job Q Manufacturing overhead applied 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
Step by Step Solution
★★★★★
3.50 Rating (157 Votes )
There are 3 Steps involved in it
Step: 1
What was Sweeten Companys cost of goods sold for Ma...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started