1. What is the company’s plantwide predetermined overhead rate? (Round your answer to 2 decimal places.)

predetermined overhead rate: per MPH

2. How much manufacturing overhead was applied to Job P and how much was applied to Job Q? (Do not round intermediate calculations.)

3. What is the total manufacturing cost assigned to Job P? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.)

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.)

5. What is the total manufacturing cost assigned to Job Q? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.)

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.)

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.)

8. What is Sweeten Company’s cost of goods sold for the year? (Do not round intermediate calculations.)

9. What are the company’s predetermined overhead rates in the Molding Department and the Fabrication Department?

10. How much manufacturing overhead was applied from the Molding Department to Job P and how much was applied to Job Q?

11. How much manufacturing overhead was applied from the Fabrication Department to Job P and how much was applied to Job Q?

12. If Job P includes 20 units, what is its unit product cost?

13. If Job Q includes 30 units, what is its 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?

15. What is Sweeten Company’s cost of goods sold for the year?

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! 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 $27,400 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.30 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: Molding 2,500 Fabrication 1,500 Estimated total machine-hours used Estimated total fixed manufacturing overhead $ 11,500 $ 2.00 $ 15,900 $ 2.80 Estimated variable manufacturing overhead per machine-hour 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 Total Job P $ 19,000 $ 25,800 2,300 1,200 3,500 Job Q $ 11,000. $ 9,900 1,400 1,500 2,900 Total 4,000 $ 27,400 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. ! 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 $27,400 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.30 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: Molding 2,500 Fabrication 1,500 Estimated total machine-hours used Estimated total fixed manufacturing overhead $ 11,500 $ 2.00 $ 15,900 $ 2.80 Estimated variable manufacturing overhead per machine-hour 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 Total Job P $ 19,000 $ 25,800 2,300 1,200 3,500 Job Q $ 11,000. $ 9,900 1,400 1,500 2,900 Total 4,000 $ 27,400 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.

Answer rating: 100% (QA)

1 What is the companys plantwide predetermined overhead rate Round your answer to 2 decimal places The companys plantwide predetermined overhead rate is 685 per machinehour This is calculated by takin... View the full answer