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[ The following information applies to the questions displayed below. ] Sweeten Company had no jobs in progress at the beginning of the year and
The following information applies to the questions displayed below.
Sweeten Company had no jobs in progress at the beginning of the year and no beginning inventories. It started, completed, and sold only two jobs during the yearJob P and Job Q The company uses a plantwide predetermined overhead rate based on machinehours. At the beginning of the year, it estimated that machinehours would be required for the period's estimated level of production. Sweeten also estimated $ of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $ per machinehour.
Because Sweeten has two manufacturing departmentsMolding and Fabricationit is considering replacing its plantwide overhead rate with departmental rates that would also be based on machinehours. The company gathered the following additional information to enable calculating departmental overhead rates:
Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year.
Required:
For questions assume that Sweeten Company uses a plantwide predetermined overhead rate with machinehours as the allocation base. For questions, assume that the company uses predetermined departmental overhead rates with machinehours as the allocation base in both departments.
Foundational Algo
What are the company's predetermined overhead rates in the Molding Department and the Fabrication Department?
Note: Round your answers to decimal places.
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