Sweeten Company had no jobs in progress at the beginning of the year and no beginning...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
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 $26,200 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.00 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 Molding 2,500 Fabrication 1,500 Total 4,000 Estimated variable manufacturing overhead per machine-hour $ 10,750 $ 1.70 $ 15,450 $ 2.50 $ 26,200 Estimated total fixed manufacturing overhead 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 $ 16,000 $ 23,400 Job Q $ 9,500 $ 8,700 2,000 900 2,900 1,100 1,200 2,300 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. 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. 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 $26,200 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.00 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 Molding 2,500 Fabrication 1,500 Total 4,000 Estimated variable manufacturing overhead per machine-hour $ 10,750 $ 1.70 $ 15,450 $ 2.50 $ 26,200 Estimated total fixed manufacturing overhead 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 $ 16,000 $ 23,400 Job Q $ 9,500 $ 8,700 2,000 900 2,900 1,100 1,200 2,300 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. 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.
Expert Answer:
Related Book For
Introduction to Managerial Accounting
ISBN: 978-1259917066
8th edition
Authors: Peter C. Brewer, Ray H Garrison, Eric Noreen
Posted Date:
Students also viewed these accounting questions
-
Dr. Umburgh noticed that the $100.00 check made to Trenton Medical Supplies has not cleared for four months. What type of check is the outstanding check referred to as?
-
1957 ford Original Cost is 32k. FMV at Conversion is $32k. Using MACRS Rates- Half Year Convention. What is the basis for depreciation and Year 1 Depreciation amount and what is the appropriate...
-
c++. error: array must be initialized with a brace enclosed initializer main.cpp X 10 11 ii 12 13 14 4567 15 16 17 18 19 287288285 20 21 23 24 25 26 27 28 25285922223288 30 31 33 34 36 37 40 41 42 43...
-
A cylindrical rod of copper originally 16.0 mm (0.625 in.) in diameter is to be cold worked by drawing; the circular cross section will be maintained during deformation. A cold-worked yield strength...
-
Remember when you first joined this college or university; how did you feel about the formal socialization or induction process? To what informal, unplanned socialization were you exposed? Which had...
-
Wires 1 to 5 in Figure P28.35 carry current either into or out of the page. What is the magnitude of the current enclosed by the Amprian path indicated? Is the line integral of the magnetic field...
-
You are provided with the following information taken from Langerhan Inc.s March 31, 2014, balance sheet. Cash..................... $ 11,000 Accounts receivable............... 20,000...
-
How do you print the first value in a tuple called aVar?
-
GPA Calculator (gpa_calculator.py) You've decided to build a program to track your Grade Point Average (GPA). Your program will prompt the user to enter information for each course attempted (eg....
-
Based on the below graph which shows the growth of technology over six years, perform your calculation to determine the percentage growth of the technology on an annual basis per dollar. Assume that...
-
Research suggests two main categories of citizenship behaviors that differ according to who benefits from the activity Discuss Those two types and give examples.
-
Bridgeton, Co. sells a specific brand of high-end coffee grinders. The grinder manufacturer provides a suggested retail price for each grinder. Bridgeton sells the coffee grinders at the retail...
-
Leo Faulkner gets a bad case of the flu and ends up in the hospital for three days. What is the part of his basic health insurance coverage should help pay for this stay?
-
Why is it essential to maintain and retain records for trust accounts?
-
1. Download and read the Kaplan and Norton (2004b) article How Strategy Maps Frame an Organizations Objectives 2. Download and read the Ingham (2011) article Using a Human Capital Scorecard as a...
-
At 31 December 20X9, the end of the annual reporting period, the accounts of Huron Company showed the following: a. Sales revenue for 20X9, $ 2,950,000, of which one- quarter was on credit. b....
-
How do managers refine a costing system?
-
When does product undercosting or overcosting occur?
-
Family Supermarkets (FS) has decided to increase the size of its Memphis store. It wants information about the profitability of individual product lines: soft drinks, fresh produce, and packaged...
Study smarter with the SolutionInn App