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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
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 yearJob P and Job Q The company uses a plantwide predetermined overhead rate based on machinehours. At the beginning of the year, it estimated that machinehours would be required for the period's estimated level of production. Sweeten also estimated $ of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $ per machinehour. Because Sweeten has two manufacturing departmentsMolding and Fabricationit 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 machinehours used for Jobs P and Q are as follows: Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year. Required: For questions assume that Sweeten Company uses a plantwide predetermined overhead rate with machinehours as the allocation base. For questions, assume that the company uses predetermined departmental overhead rates with machinehours as the allocation base in both departments. What is the company's plantwide predetermined overhead rate? Note: Round your answer to decimal places. Predetermined overhead rate How much manufacturing overhead was applied to Job P and how much was applied to Job Q Note: Do not round intermediate calculations. What is the total manufacturing cost assigned to Job P Note: Do not round intermediate calculations. Round your final answer to nearest whole dollar. If Job includes units, what is its unit product cost? Note: Do not round intermediate calculations. Round your final answer to nearest whole dollar. Unit product cost What is the total manufacturing cost assigned to Job Q Note: Do not round intermediate calculations. Total manufacturing cost If Job Q includes units, what is its unit product cost? Note: Do not round intermediate calculations. Round your final answer to nearest whole dollar. Unit product cost Assume that Sweeten Company uses costplus pricing and a markup percentage of of total manufacturing cost to establish selling prices for all of its jobs. If Job P includes units and Job Q includes units, what selling price would the company establish for Jobs P and Q What are the selling prices for both jobs when stated on a per unit basis? Note: Do not round intermediate calculations. Round your final answers to nearest whole dollar. What is Sweeten Company's cost of goods sold for the year? Note: Do not round intermediate calculations. Cost of goods sold What are the company's predetermined overhead rates in the Molding Department and the Fabrication Department? Note: Round your onswers to decimal ploces.
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 yearJob P and Job Q The company uses a
plantwide predetermined overhead rate based on machinehours. At the beginning of the year, it
estimated that machinehours would be required for the period's estimated level of production.
Sweeten also estimated $ of fixed manufacturing overhead cost for the coming period and
variable manufacturing overhead of $ per machinehour.
Because Sweeten has two manufacturing departmentsMolding and Fabricationit 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 machinehours used for Jobs P and Q are as follows:
Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year.
Required:
For questions assume that Sweeten Company uses a plantwide predetermined overhead rate with
machinehours as the allocation base. For questions, assume that the company uses
predetermined departmental overhead rates with machinehours as the allocation base in both
departments.
What is the company's plantwide predetermined overhead rate?
Note: Round your answer to decimal places.
Predetermined overhead rate
How much manufacturing overhead was applied to Job P and how much was applied to Job Q
Note: Do not round intermediate calculations.
What is the total manufacturing cost assigned to Job P
Note: Do not round intermediate calculations. Round your final answer to nearest whole dollar.
If Job includes units, what is its unit product cost?
Note: Do not round intermediate calculations. Round your final answer to nearest whole dollar.
Unit product cost
What is the total manufacturing cost assigned to Job Q
Note: Do not round intermediate calculations.
Total manufacturing cost
If Job Q includes units, what is its unit product cost?
Note: Do not round intermediate calculations. Round your final answer to nearest whole dollar.
Unit product cost
Assume that Sweeten Company uses costplus pricing and a markup percentage of of total manufacturing cost to
establish selling prices for all of its jobs. If Job P includes units and Job Q includes units, what selling price would
the company establish for Jobs P and Q What are the selling prices for both jobs when stated on a per unit basis?
Note: Do not round intermediate calculations. Round your final answers to nearest whole dollar.
What is Sweeten Company's cost of goods sold for the year?
Note: Do not round intermediate calculations.
Cost of goods sold
What are the company's predetermined overhead rates in the Molding Department and the Fabrication Department?
Note: Round your onswers to decimal ploces.
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