Molding Fabrication Estimated total Machine hours 3,000 2,000 Estimated total fixed overhead 12,000 13,000 Estimated variable...

 

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Molding Fabrication Estimated total Machine hours 3,000 2,000 Estimated total fixed overhead 12,000 13,000 Estimated variable overhead rate per machine hour $2.00 $2.50 Actual data: Direct materials used 14,000 8,000 Direct labor incurred 24,000 6,000 Machine hours used - Molding dept 1,600 600 Machine hours used - Fabricating dept 500 700 Fabrication Total the month. For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rat with machine-hours as the allocation base, For questions 9-15, assume that the company uses mental predetermined overhead rates with machine-hours as the allocation base in both departments 1. What was the company's plantwide predetermined overhead rate? 2. How much manufacturing overhead was applied to Job P and how much was applied to Job Q? 3. What was the total manufacturing cost assigned to Job P? 4. If Job P included 20 units, what was its unit product cost? 5. What was the total manufacturing cost assigned to Job Q? 6. If Job Q included 30 units, what was its unit product cost? 7. 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? 8. What was Sweeten Company's cost of goods sold for March? 9. What were 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 included 20 units, what was its unit product cost? Required: depart- 1à If Job Q included 30 units, what was its unit product cost? 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? 15. What was Sweeten Company's cost of goods sold for March? Molding Fabrication Estimated total Machine hours 3,000 2,000 Estimated total fixed overhead 12,000 13,000 Estimated variable overhead rate per machine hour $2.00 $2.50 Actual data: Direct materials used 14,000 8,000 Direct labor incurred 24,000 6,000 Machine hours used - Molding dept 1,600 600 Machine hours used - Fabricating dept 500 700 Fabrication Total the month. For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rat with machine-hours as the allocation base, For questions 9-15, assume that the company uses mental predetermined overhead rates with machine-hours as the allocation base in both departments 1. What was the company's plantwide predetermined overhead rate? 2. How much manufacturing overhead was applied to Job P and how much was applied to Job Q? 3. What was the total manufacturing cost assigned to Job P? 4. If Job P included 20 units, what was its unit product cost? 5. What was the total manufacturing cost assigned to Job Q? 6. If Job Q included 30 units, what was its unit product cost? 7. 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? 8. What was Sweeten Company's cost of goods sold for March? 9. What were 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 included 20 units, what was its unit product cost? Required: depart- 1à If Job Q included 30 units, what was its unit product cost? 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? 15. What was Sweeten Company's cost of goods sold for March?

Answer rating: 100% (QA)

1 Plantwide predetermined overhead rate estimated total overhead estimeted allocation base machine hour 360005000 720 Per machine hour Working note 1 ... View the full answer