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
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): Holding Fabrication Total Estimated total machine-hours used 4,400 2,640 7,040 Estimated total fixed manufacturing overhead 517,600 $26,400 $44,000 Estimated variable manufacturing overhead per machine-hour $ 1.40 $ 2.20 Job 322,880 $36,960 Job O $14,080 $13,200 Direct materials Direct labor cost Actual machine-hours used: Holding Fabrication Total 3,040 1,060 4,100 1,410 1,330 2, 940 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 Pincluded 20 units and Job included 30 units. For questions 10-15, assume that the company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. 1. What were the company's predetermined overhead rates in the Molding Department and the Fabrication Department? (Round your answers to 2 decimal places.) Answer is complete but not entirely correct. Predetermined Overhead Rate Molding Department $ 4.00 per MH Fabrication Department S 10.15 por MH

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Foundations of Financial Management

Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta

10th Canadian edition

1259261018, 1259261015, 978-1259024979

Students also viewed these Accounting questions