Answered step by step
Verified Expert Solution
Link Copied!
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 and Fabrication.

image text in transcribed
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- Job P and Job Q. The following additional information is available for the company as a whole and for Jobs Panda (all data and questions relate to the month of March): Molding Fabrication Total Estimated total machine-hours used 3,300 1,980 5,280 Estimated total fixed manufacturing overhead $13,200 $19,800 533,800 Estimated variable manufacturing overhead per machine-hour $ 1.40 $ 2.20 Job $10,560 $ 9,900 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total Job P $17, 160 $27.720 2,210 790 3,800 1,860 1,220 2,280 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1-9, assume that Sweeten Company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments and Job P included 20 units and Job Q included 30 units. For questions 10-15, assume that the company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. 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? (Do not round intermediate calculations. Round your final answers to nearest whole dollar.) Job P JobQ Total price for the job Sa in narini

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_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students explore these related Accounting questions