Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories....
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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): Total Estimated total machine-hours used Molding 2,500 Fabrication 1,500 4,000 Estimated total fixed manufacturing overhead $14,250 $17,550 $31,000 Estimated variable manufacturing overhead per machine-hour $ 3.10 $ 3.90 Job P Job Q Direct materials Direct labor cost $30,000 $16,500 $34,600 $14,300 Actual machine-hours used: Molding 3,400 2,500 Fabrication 2,300 2,600 Total 5,700 5,100 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1-9, assume that Sweeten Company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments and Job P included 20 units and Job Q included 30 units. For questions 10-15. assume that the company uses a plantwide predetermined overhead rate with machine-hours as the allocation base 9. What was Sweeten Company's cost of goods sold for March? (Do not round intermediate c Cost of goods sold 10. What was the company's plantwide predetermined overhead rate? (Round your answer to 2 decimal places. Predetermined overhead rate per MH 11. How much manufacturing overhead was applied to Job P and how much was applied to Job Q? (Do not round int calculations.) Job P Job Q Manufacturing overhead applied 12. 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.) Unit product cost 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): Total Estimated total machine-hours used Molding 2,500 Fabrication 1,500 4,000 Estimated total fixed manufacturing overhead $14,250 $17,550 $31,000 Estimated variable manufacturing overhead per machine-hour $ 3.10 $ 3.90 Job P Job Q Direct materials Direct labor cost $30,000 $16,500 $34,600 $14,300 Actual machine-hours used: Molding 3,400 2,500 Fabrication 2,300 2,600 Total 5,700 5,100 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1-9, assume that Sweeten Company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments and Job P included 20 units and Job Q included 30 units. For questions 10-15. assume that the company uses a plantwide predetermined overhead rate with machine-hours as the allocation base 9. What was Sweeten Company's cost of goods sold for March? (Do not round intermediate c Cost of goods sold 10. What was the company's plantwide predetermined overhead rate? (Round your answer to 2 decimal places. Predetermined overhead rate per MH 11. How much manufacturing overhead was applied to Job P and how much was applied to Job Q? (Do not round int calculations.) Job P Job Q Manufacturing overhead applied 12. 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.) Unit product cost
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Related Book For
Introduction to Managerial Accounting
ISBN: 978-0078025792
7th edition
Authors: Peter Brewer, Ray Garrison, Eric Noreen
Posted Date:
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