Question

The Foundational 15 [LO2-1, LO2-2, LO2-3, LO2-4]

Required information The Foundational 15 [LO2-1, LO2-2, LO2-3, LO2-4) [The following information applies to the questions displayed below.) 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): Estimated total machine hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine hour verbe de machine four Molding Fabrication Total 2,588 1,568 4,668 $16.68 $15,628 $25,608 $ 1.48 $ 2.28 Job P $13.63 $21.289 Job O $8. $7,568 Direct labor cost Actual nachine-hours used: Molding Fabrication Total 1,700 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month 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 departmental predetermined overhead rates with machine-hours as the allocation base in both departments. Foundational 2-12 12. If Job P included 20 units, what was its unit product cost? (Do not round intermediate calculations.) Unit product cost

Answer 1

Molding department overhead rate

= $1.40 + ($10000/2500 hour) = $5.40

Fabrication department overhead rate

= $2.20 + ($15000/1500)

= $12.20

Total cost calculation of job P

= Material + labor + moulding overhead + fabrication overhead

= $13000 + $21000 + (1700*$5.40) + (600*$12.20)

= $50500

Units cost = $50500/20 units

= $2525 per unit

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