Sweeten Company had no jobs in progress at the beginning of

March and no beginning inventories. It started only two jobs during

March$$Job P and Job Q$.$ Job P was completed and sold by the end of

the March and Job Q was incomplete at the end of the March. The

company uses a plantwide predetermined overhead rate based on

direct labor$-$hours. 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. What is company's

predetermined overhead rate? How much manufacture overhead was

applied to Job P and Job Q$?$ What is the direct labor hourly wage

rate? If Job P includes $20$ units, what is its unit product cost?

What is the total amount of manufacture cost assigned to Job Q as

of the end of march $($including applied overhead$)?$ Assume the ending

raw material inventory is $$1,000$ and the company does not use and

indirect materials. Prepare then journal entries to record raw

materials purchases and the issuance of direct materials for use in

production. Assume that the company does not use any indirect

labor. Prepare the journal entry to record the direct labor costs

added to production. Prepare the journal entry to apply manufacture

overhead costs to production. Assume the ending raw material

inventory is $$1,000$ and the company does not use any indirect

materials. Prepare a schedule of cost of goods manufactured.

Prepare the journal entry to transfer costs from Work in Process to

Finished Goods. Prepare a completed work in process T$-$account

including the beginning and ending balance and all debits and

credits posted to the account. Prepare a schedule of cost of goods

sold. Prepare the journal entry to transfer costs from Finished

Goods to Cost of Goods Sold. What is the amount of underapplied or

overapplied overhead. Prepare the journal entry to close the amount

of underapplied or overapplied overhead to Cost of Goods Sold.

Assume that job P includes $20$ units that each sell for $$3,000$ and

that the companys selling and administrative expense is March were

$$14,000.$ Prepare an absorption costing income statement for

March.Estimated total fixed manufacture over head $$10,000$Estimated variable manufacture overhead per direct labor hour

$$1\mathrm{.}00$Estimated total direct labour hours to be worked $2,000$Total Manufacturing overhead costs incurred $$12,500$Job P $/$Job QDirect Material $$13,000/$$$8,000$Direct Labor Cost $$21,000/$$$7,500$Actual Direct Labor$-$hours worked $1,400/500$