Question

its one question with multiple parts

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 Molding Fabrication Total 2,500 1,500 4,000 $10,000 $15,000 $25,000 $ 1.40 $ 2.20 Job P $13,000 $21,000 Job $8,000 $7,500 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 1,700 600 2,300 800 900 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 2-1 1. What was the company's plantwide predetermined overhead rate? (Round your answer to 2 decimal places.) Predetermined overhead rate per MH

Answer 1

1) Plantwide overhead = (2500*1.4+1500*2.2+25000)/4000 = 7.95 per MH

2) Manufacturing overhead applied

	Job P	Job Q
Manufacturing overhead	2300*7.95 = 18285	13515

3) Total manufacturing cost

	Job P
Direct material	13000
Direct labor	21000
Overhead	18285
Total manufacturing cost	52285

4) Unit product cost = 52285/20 = 2614

5) Total manufacturing cost

	Job P
Direct material	8000
Direct labor	7500
Overhead	13515
Total manufacturing cost	29015

6) Unit product cost = 29015/30 = 967

7) calculate following

	Job P	Job Q
Selling price	18285*1.8 = 32913	13515*1.8 = 24327
Unit price	1646	811

8) Cost of goods sold = 18285+13515 = 31800