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
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 $30,200 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.00 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: Estimated total machine-hours used Molding Fabrication Total 2,5ee 1,500 Estimated total fixed manufacturing overhead 4,000 $ 13,250 $ 16,950 $ 30,200 Estimated variable manufacturing overhead per machine-hour $ 2.70 $ 3.50 The direct materials cost, direct labor cost, and machine-hours used for Jobs Pand Q are as follows: Job P Job Direct materials $ 26,000 $ 14,500 Direct labor cost $ 31,400 $ 12,700 Actual machine-hours used: Molding 3,000 2,100 Fabrication 1,900 2,200 Total 4,900 4,300 Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year. Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. For questions, 9-15, assume that the company uses predetermined departmental overhead rates with machine-hours as the allocation base in both departments. Foundational 2-5 (Algo) 5. What is the total manufacturing cost assigned to Job Q? (Do not round intermediate calculations.) Total manufacturing cost

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

Fundamentals Of Oil And Gas Accounting

Authors: Charlotte Wright

6th Edition

9781593703639

More Books

Students also viewed these Accounting questions

Question

Is financial support available for travel to conferences?

Answered: 1 week ago

Question

a business report on Leadership Skills for Managers

Answered: 1 week ago