Sweeten Company had no jobs in progress at the beginning of the year and no beginning...
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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 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 $32,200 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.50 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: Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Job P $ 31,000 $ 35,400 Molding Fabrication 2,500 1,500 $ 14,500 $3.20 $ 17,700 $ 4.00 3,500 2,400 5,900 Job Q $ 17,000 $ 14,700 Total 2,600 2,700 5,300 4,000 $32,200 Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year. Assume that Sweeten Company uses cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs. If Job P includes 20 units and Job Q includes 30 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? (Do not round intermediate calculations. Round your final answers to nearest whole dollar.) If Job Q includes 30 units, what is its unit product cost? (Do not round intermediate calculations. Round your final answer to nearest whole dollar) Unit product cost i If Job P includes 20 units, what is its unit product cost? (Do not round intermediate calculations.) Unit product cost 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 $32,200 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.50 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: Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Job P $ 31,000 $ 35,400 Molding Fabrication 2,500 1,500 $ 14,500 $3.20 $ 17,700 $ 4.00 3,500 2,400 5,900 Job Q $ 17,000 $ 14,700 Total 2,600 2,700 5,300 4,000 $32,200 Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year. Assume that Sweeten Company uses cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs. If Job P includes 20 units and Job Q includes 30 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? (Do not round intermediate calculations. Round your final answers to nearest whole dollar.) If Job Q includes 30 units, what is its unit product cost? (Do not round intermediate calculations. Round your final answer to nearest whole dollar) Unit product cost i If Job P includes 20 units, what is its unit product cost? (Do not round intermediate calculations.) Unit product cost
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If Job Q included 30 units what was its unit product cost The total manufacturing cost for Job Q wil... View the full answer
Related Book For
Introduction to Managerial Accounting
ISBN: 978-1259917066
8th edition
Authors: Peter C. Brewer, Ray H Garrison, Eric Noreen
Posted Date:
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