Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The Foundational 15 [LO2-1, LO2-2, LO2-3, LO2-4] Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. The company

The Foundational 15 [LO2-1, LO2-2, LO2-3, LO2-4]

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 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):

14. 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 assuming 20 units were produced for Job P and 30 units were produced for Job Q? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.)image text in transcribedimage text in transcribed

Check my 14 Required information The Foundational 15 [LO2-1, LO2-2, LO2-3, LO2-4] [The following information applies to the questions displayed below.] Part 14 of 15 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 P and Q (all data and questions relate to the month of March): 0.62 points Molding Fabrication Total 1,500 $17,850 4.10 4,000 $32,600 Estimated total machine-hours used 2,500 $14,750 3.30 Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour eBook Print References Job P Job Q $17,500 $15,100 Direct materials $32,000 $36,200 Direct labor cost Actual machine-hours used: Molding 3,600 2,500 2,700 2,800 5,500 Fabrication Total 6,100 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: Check my work 14 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 departmental predetermined overhead rates with machine-hours as the allocation base in both departments. Part 14 of 15 Foundational 2-14 O.62 points 14. 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 assuming 20 units were produced for Job P and 30 units were produced for Job Q? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.) ook Print References Job P Job Q Total price for the job Selling price per unit

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

Accounting and Auditing Research Tools and Strategies

Authors: Thomas Weirich, Thomas Pearson, Natalie Tatiana

9th edition

1119441915, 1119441919, 978-1-119-3737, 9781119373629 , 978-1119441915

More Books

Students also viewed these Accounting questions

Question

=+27-6 Describe why Skinner's ideas provoked controversy.

Answered: 1 week ago