Question
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
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 MarchJob 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): Molding Fabrication Total Estimated total machine-hours used 2,500 1,500 4,000 Estimated total fixed manufacturing overhead $ 14,250 $ 17,550 $ 31,800 Estimated variable manufacturing overhead per machine-hour $ 3.10 $ 3.90 Job P Job Q Direct materials $ 30,000 $ 16,500 Direct labor cost $ 34,600 $ 14,300 Actual machine-hours used: Molding 3,400 2,500 Fabrication 2,300 2,600 Total 5,700 5,100 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. 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 departmental predetermined overhead rates with machine-hours as the allocation base in both departments.
predetermined overhead rate
manufactured overhead applied: both jobs
total manufacturing cost
unit product cost
total manufacturing cost
unit product cost
total price for the job: both jobs
selling price per unit: both jobs
COGS
molding department predetermined overhead rate
fabrication department predetermine overhead rate
manufacturing overhead applied from molding department: both jobs
manufacturing overhead applied from fabrication department: both jobs
If Job P included 20 units, what was its unit product cost?
If Job Q included 30 units, what was its unit product cost?
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 assuming 20 units were produced for Job P and 30 units were produced for Job Q?
What was Sweeten Companys cost of goods sold for March?
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