Answered step by step
Verified Expert Solution
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
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 P and Job Q. The following additional information is available for the company as a whole and for Jobs Pand Q ( all data and questions relate to the month or March )
The Foundational 15 connect LO2-1, LO2-2, LO2-3, LO2-4 Sweeten Company had no joto 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 gots during March -- Sob and 306 Q. The following additional information is wailable for the company as a whole and for Jobs Pand (all data and questions relate to the month of March Molding Fabrication Total Estimated total machine hours used 2,500 1.500 4,000 Estimated total fixed manufacturing overhead $10.000 $15,000 $25,000 Estimated variable manufacturing overhead per machine hou $1.40 $2.20 Job P Job $13.000 $0.000 $21.000 $7,500 Direct materials Direct labor cost Actual machine hours used: Molding Fabrication Total 1,700 800 900 1,700 2.300 Sweeten Company had to undenpplied or overapplied manufacturing overbead costs during the month Required: For questions 19, assume that Sweeten Company uses departmental predetermined overhead rates with machine hours as the allocation base in both departments. For questions 10-15, assume that the company uses a plantwide predetermined overhead rate with machine hown as the allocation base 1. What were the company's predetermined overhead rates in the Molting Department and the Fabrication Department? 2. How mach matufacturing overhead was applied from the Molding Department to Job and how much was applied to Job ? 3. How much manufacturing overhead was applied from the Fabrication Department to Job and how toch was applied to Job Q7 4. What was the total manufacturing costassiged to Job P7 5. Ir Job Pincluded 20 tits, what was its mit product cost? 6. What was the total manfacturing cost assigned to Job Q? 7. If Job included 30 units, what was its unit product Cou? 3. Assume that Sweeten Company used cont plus pricing and markup percentage of 80% of total manufacturing Co to establish selling prices for all of its jobs. What selling price would the company have established for Jobs Pand? What are the selling prices for both jobs whes Mated on a per unit basis? 9. What was Sweeten Company's cost of poods sold for March 10. What was the company's plantwide predetermined overhead te? 11. How much manufacturing overhead was applied to Job and how much was applied to Job ? 12.11b Pincluded 30 units, what was its product cost? 6. What was the total manufacturing costssigned to Job 07 7. Job included 30 units, what was its unit product cost? R.Assame that Sweeten Company used cost plus pricing and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs. What selling price would the company have established for Jobs P and Q? What are the selling prices for both jobs when stated on a per unit hauis? 9. What was Sweeten Company's cost of goods sold for March? 10. What was the company's plantwide predetermined overhead rate? 11. How much manufacturing overhead was applied to Job and how much was applied to Job ? 12.10 Job included 20 units, what was its unit product cost? 13.14 Job included 30 units, what was its unit product cout Required : For questions 1-9 assume that Swecten Company uses departmental predetermined overhead rates with machine - as the allocation base in both departments . For questions 10-15 assume that company uses a plantwide predetermined overhead rate with machine - hours as the allocation base .
6. What was the total manufacturing cost assigned to Job Q ?
7. If Job Q included 30 units , what was its unit product cost ?
8. Assume that Sweeten Company used cost - plus pricing and a markup percentage of 80 % of total manufacturing cost ) to establish selling prices for all of its jobs . What selling price would the company have established for Jobs P and Q ? What are the selling prices for both jobs when stated on a per unit basis
9. What was Sweeten Company's cost of goods sold for March ?
10. What was the company's plantwide predetermined overhead rate ?
11. How much manufacturing overhead was applied to Job P and how much was applied to Job Q ?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started