1. What was the company’s plantwide predetermined overhead rate? 1a. How much manufacturing overhead was applied…
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Question “1. What was the company’s plantwide predetermined overhead rate? 1a. How much manufacturing overhead was applied…”
1. What was the company’s plantwide predetermined overhead
rate?
1a. How much manufacturing overhead was applied to Job P and how
much was applied to Job Q? (Do not round intermediate
calculations.)
b. What was the total manufacturing cost assigned to Job P?
(Do not round intermediate calculations.)
2a. If Job P included 20 units, what was its unit product cost?
(Do not round intermediate calculations. Round your final
answer to nearest whole dollar.)
2b. What was the total manufacturing cost assigned to Job Q?
2c. If Job Q included 30 units, what was its unit product cost?
(Do not round intermediate calculations. Round your final
answer to nearest whole dollar.)
3. 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?
4. What was Sweeten Company’s cost of goods sold for March?
5a. What were the company’s predetermined overhead rates in the
Molding Department and the Fabrication Department? (Round
your answers to 2 decimal places.)
5b. 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.)
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): Molding Fabrication Total 1,500 $16,350 Estimated total machine-hours used 4,000 $28,600 2,500 Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour $12,250 2.30 3.10 Job P Job 0 Direct materials $22,000 $28,200 $12,500 $11,100 Direct labor cost Actual machine-hours used Molding 2,600 1,500 4,100 1,700 Fabrication 1,800 Total 3,500 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. 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. S
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