Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Thank you for your help in advance(TIME SENSITIVE) Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. The

Thank you for your help in advance(TIME SENSITIVE)

Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. The company has two manufacturing departmentsMolding 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 $ 13,000 $ 16,800 $ 29,800
Estimated variable manufacturing overhead per machine-hour $ 2.60 $ 3.40

Job P Job Q
Direct materials $ 25,000 $ 14,000
Direct labor cost $ 30,600 $ 12,300
Actual machine-hours used:
Molding 2,900 2,000
Fabrication 1,800 2,100
Total 4,700 4,100

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.

1. What were the companys predetermined overhead rates in the Molding Department and the Fabrication Department?

2.How much manufacturing overhead was applied from the Molding Department to Job P and how much was applied to Job Q? (Do not round intermediate calculations.)

3. How much manufacturing overhead was applied from the Fabrication Department to Job P and how much was applied to Job Q?

4. What was the total manufacturing cost assigned to Job P?

5. If Job P included 20 units, what was its unit product cost?

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 Companys cost of goods sold for March?

10. What was the companys plantwide predetermined overhead rate?

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

More Books

Students also viewed these Accounting questions

Question

8-6 Who poses the biggest security threat: insiders or outsiders?

Answered: 1 week ago