Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows. Sweeten Company had no overapplied or underapplied

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows. Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year. Required: For questions 1.8, assume that Sweeten Company uses a plantwide predetermined overheod rate with machinle-hours as the allocation base. For questions. 9.15, assume that the company uses predetermined departmental overhead rates with machine-hours as the allocation base in both departments. 7. Assume that Sweeten Company uses cost-plus pricing (anara markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs, If Job P includes 20 units and Job Q includes 30 units, what selling price would the company establish tor Jobs P and Q? What are the selang prices for both jobs when stated on a per unit basis? Note: Do not round intermediate calculotions. Round your final onswers to nearest whole dollar. Because Sweeten has two manufacturing departments - Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following additional information to enable calculating departmental overhead rates: ue uetect matenals cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows Sweeten Company had no overapplied or underappied manufacturing overhead costs doning the weat: Required: For questions 1-8,assume that Sweeten Company uses a plantwide predetermined overheod rate with mochine hours as the aliocation base. For questions, 9.15. assume that the company uses predetermined departmental overhead tates with machine hours is the ollocation base in both depariments 8. What is Sweeten Companys cost of gooch sold tor the year? Note: Do not round intermediate colculotions. The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year 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 compary uses predetermined departmental overhead rates with machine-hours as the allocation base in both departments. 9. What are the company's predetermined oveitead rates in the Molding Department and the Fabrication Department? Note: Round your onswers to 2 decimal ploces. The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows. Sweeten Company had no overapplied or underapplied manufacturing overhead costs durinig the yeaf. Required: For questions-1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine-hours as the albocation base. For questions, 9:15, assume that the company uses predetermined departmental overhead rates with machine-hours as the allocation base in both departments: 10. How much manufacturing ovechead was applied from the Molding Department to Job P and how much was applied to Job Q? Note: Do not round intermediate calculotions. The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetemined overhead rate with machine hours as the allocation base. For questions, 9.15, assume that the company uses predetermined departmental overhead rates with machine hours as the allocation base in both departments: 1. How much manutacturing overhead was applied from the Fabrication. Department to Job P Shd how much was applied to Job Q? Pote: De not round intermediote calculotions. required tor the periods estimated level of production. Sweeten also estimated $33,000 of fixed manutacturing overhead cost for the coming period and variable manufacturing overhead of $370 per machine-hour. Because Sweeten has two manufacturing departments- Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following additional information to enable calculating departmental overhead rates: The direct materials cost, direct labor cost, and machine hours used for Jobs P and Q are as follows: Sweeten Company had no overapplied or underapplied manuacturing overhead costs during the yeat Required: For questions 18, assume that Sweeten Company uses a plantwide Aredetermined overhead rate with machine hours as the allocation base. For questions, 9.15, assume that the compary uses predetermined departmental oveihesd rates with machine hours as the allocation base in both departments. 12. If Job Pincluden 20 units, what is ins unit product cost? Note: Do not round intermediote colculations. The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year Required: For questions 1.8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine-hours as the aliocation base. For questions, 9-15, assume that the company uses predetermined departmental overhead rates with machine-hours as the allocation base in both departments. 13. If Job Q includes 30 units; what is its unit product cost? Note: Do not round intermediate calculations. Round your final answer to nearest whole dollor. The direct materials cost, direct labor cost, and machine hours used for Jobs P and Q are as follows. Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year Required: For questions 18, 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 predetermined departmental ovethead rates with machine,hours as the allocation base in both departments. 14. Assume that Sweeten Company uses cost-plus pticing (and a markup percentage of 80% of total manufacturing cost) fo establish selling prices for all of its jobs. If Job P includes 20 units and Job Q includes 30 units, what selling price would the sompary establish for Jobs P and Q? What ate the selling prices for both jobs whenstated on a per unit basis? Note: Do not round intermediate calculotions. Round your final onswers to nearest whole dollas. required for the period's estimated level of production. Sweeten also estimated $33,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.70 per machine-hour. Because Sweeten has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following additional information to enable calculating departmental overhead rates: The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows. Sweeten Compony had no overapplied or underapplied manufacturing overhead costs during the yeat. Required: For questions 18, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. For questions, 9.15, ossume that the company uses predetermined departmental overhead rates with machine hours as the allocation base in both departments. 15. What is Sweeten Company's cost of goods sold for the year? Note: Do not round intermediate calculotions

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions