12. If Job P includes 20 units, what is its unit product cost? Note: Do not...
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12. If Job P includes 20 units, what is its unit product cost? Note: Do not round intermediate calculations. Unit product cost Required information [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 $30,200 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.00 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 Molding 2,500 $ 13,250 $ 2.70 Fabrication 1,500 Total 4,000 $ 16,950 $ 3.50 $ 30,200 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 $ 26,000 Job Q $ 14,500 $ 31,400 $ 12,700 3,000 2,100 1,900 4,900 2,200 4,300 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. That is the company's plantwide predetermined overhead rate? e: Round your answer to 2 decimal places. determined overhead rate per MH 2. How much manufacturing overhead was applied to Job P and how much was applied to Job Q? Note: Do not round intermediate calculations. Job P Job Q Manufacturing overhead applied 3. What is the total manufacturing cost assigned to Job P? Note: Do not round intermediate calculations. Round your final answer to nearest whole dollar. Total manufacturing cost 4. If Job P includes 20 units, what is its unit product cost? Note: Do not round intermediate calculations. Round your final answer to nearest whole dollar. Unit product cost 5. What is the total manufacturing cost assigned to Job Q? Note: Do not round intermediate calculations. Total manufacturing cost 6. 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 dollar. Unit product cost 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? Note: 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 8. What is Sweeten Company's cost of goods sold for the year? Note: Do not round intermediate calculations. Cost of goods sold 9. What are the company's predetermined overhead rates in the Molding Department and the Fabrication Department? Note: Round your answers to 2 decimal places. Molding Department Fabrication Department Predetermined Overhead Rate per MH per MH 10. How much manufacturing overhead was applied from the Molding Department to Job P and how much was applied to Job Q? Note: Do not round intermediate calculations. Job P Job Q Manufacturing overhead applied 11. How much manufacturing overhead was applied from the Fabrication Department to Job P and how much was applied to Job Q? Note: Do not round intermediate calculations. Job P Job Q Manufacturing overhead applied 12. If Job P includes 20 units, what is its unit product cost? Note: Do not round intermediate calculations. Unit product cost 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 dollar. Unit product cost 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? Note: 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 15. What is Sweeten Company's cost of goods sold for the year? Note: Do not round intermediate calculations. Cost of goods sold 12. If Job P includes 20 units, what is its unit product cost? Note: Do not round intermediate calculations. Unit product cost Required information [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 $30,200 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.00 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 Molding 2,500 $ 13,250 $ 2.70 Fabrication 1,500 Total 4,000 $ 16,950 $ 3.50 $ 30,200 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 $ 26,000 Job Q $ 14,500 $ 31,400 $ 12,700 3,000 2,100 1,900 4,900 2,200 4,300 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. That is the company's plantwide predetermined overhead rate? e: Round your answer to 2 decimal places. determined overhead rate per MH 2. How much manufacturing overhead was applied to Job P and how much was applied to Job Q? Note: Do not round intermediate calculations. Job P Job Q Manufacturing overhead applied 3. What is the total manufacturing cost assigned to Job P? Note: Do not round intermediate calculations. Round your final answer to nearest whole dollar. Total manufacturing cost 4. If Job P includes 20 units, what is its unit product cost? Note: Do not round intermediate calculations. Round your final answer to nearest whole dollar. Unit product cost 5. What is the total manufacturing cost assigned to Job Q? Note: Do not round intermediate calculations. Total manufacturing cost 6. 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 dollar. Unit product cost 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? Note: 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 8. What is Sweeten Company's cost of goods sold for the year? Note: Do not round intermediate calculations. Cost of goods sold 9. What are the company's predetermined overhead rates in the Molding Department and the Fabrication Department? Note: Round your answers to 2 decimal places. Molding Department Fabrication Department Predetermined Overhead Rate per MH per MH 10. How much manufacturing overhead was applied from the Molding Department to Job P and how much was applied to Job Q? Note: Do not round intermediate calculations. Job P Job Q Manufacturing overhead applied 11. How much manufacturing overhead was applied from the Fabrication Department to Job P and how much was applied to Job Q? Note: Do not round intermediate calculations. Job P Job Q Manufacturing overhead applied 12. If Job P includes 20 units, what is its unit product cost? Note: Do not round intermediate calculations. Unit product cost 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 dollar. Unit product cost 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? Note: 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 15. What is Sweeten Company's cost of goods sold for the year? Note: Do not round intermediate calculations. Cost of goods sold
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