The Foundational 15 (Algo) [LO2-1, LO2-2, LO2-3, LO2-4] [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 year-Job P and Job Q. The company uses a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, it estimated that 4,000 machine-hours would be required for the period's estimated level of production. Sweeten also estimated $28,200 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.50 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: Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Holding 2,500 Fabrication 1,500 $ 12,000. $ 2.20 $ 16,200 $ 3.00 Total 4,000 $ 28,200 The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Job P $ 21,000 Job Q $ 12,000 $ 27,400 $ 10,700 2,500 1,600 1,400 3,900 1,700 3,300 Total 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 company uses predetermined departmental overhead rates with machine-hours as the allocation base in both departments. additional information to enable calculating departmental overhead rates: Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Molding 2,500 $ 12,000 Fabrication $ 2.20 1,500 $ 16,200 $ 3.00 Total 4,000 $ 28,200 The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Direct materials Direct labor cost Actual machine-hours used: Fabrication Molding Total Job P $ 21,000 Job Q $ 12,000 $ 27,400 $ 10,700 2,500 1,600 1,400 3,900 1,700 3,300 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 machin the allocation base. For questions, 9-15, assume that the company uses predetermined departmental overhea machine-hours as the allocation base in both departments. Foundational 2-1 (Algo) 1. What is the company's plantwide predetermined overhead rate? (Round your answer to 2 decimal places.) Predetermined overhead rate per MH Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Molding Fabrication: 2,500 1,500 $ 12,000 $ 2.20 $ 16,200 $ 3.00 Total 4,000 $ 28,200 The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Direct materials Direct labor cost Actual machine-hours used: Fabrication Molding Total Job P $ 21,000 Job O $ 12,000 $ 27,400 $ 10,700 2,500 1,600 1,400 1,700 3,900 3,300 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 company uses predetermined departmental overhead rates with machine-hours as the allocation base in both departments. Foundational 2-2 (Algo) 2. How much manufacturing overhead was applied to Job P and how much was applied to Job Q? (Do not round intermediate calculations.) Job P Job Q Manufacturing overhead applied Foundational 2-3 (Algo) 3. What is the total manufacturing cost assigned to Job P? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) Total manufacturing cost Foundational 2-4 (Algo) 4. If Job P includes 20 units, what is its unit product cost? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) Unit product cost Foundational 2-5 (Algo) 5. What is the total manufacturing cost assigned to Job Q? (Do not round intermediate calculations.) Total manufacturing cost Foundational 2-6 (Algo) 6. If Job Q includes 30 units, what is its unit product cost? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) Unit product cost Foundational 2-7 (Algo) 7. Assume that Sweeten Company uses cost-plus pricing (and a 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 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.) Total price for the job Selling price per unit Job P Job Q Foundational 2-8 (Algo) 8. What is Sweeten Company's cost of goods sold for the year? (Do not round intermediate calculations.) Cost of goods sold References Foundational 2-9 (Algo) 9. What are the company's predetermined overhead rates in the Molding Department and the Fabrication Department? (Round your answers to 2 decimal places.) Molding Department Fabrication Department Predetermined Overhead Rate per MH per MH es Foundational 2-10 (Algo) 10. 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.) Manufacturing overhead applied Job P Job Q References Foundational 2-11 (Algo) 11. How much manufacturing overhead was applied from the Fabrication Department to Job P and how much was applied to Job Q? (Do not round intermediate calculations.) Manufacturing overhead applied Job P Job Q Foundational 2-12 (Algo) 12. If Job P includes 20 units, what is its unit product cost? (Do not round intermediate calculations.) Unit product cost Foundational 2-13 (Algo) 13. If Job Q Includes 30 units, what is its unit product cost? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) Unit product cost Print ferences Foundational 2-14 (Algo) 14. Assume that Sweeten Company uses cost-plus pricing (and a 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 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 Job Q Total price for the job Selling price per unit Foundational 2-15 (Algo) 15. What is Sweeten Company's cost of goods sold for the year? (Do not round intermediate calculations.) Cost of goods sold