1. what were the company's Predetermined OH rate in the Molding and fabrication department?
2. how much MOH was applied from the Molding Department to job P and how much was applied to job Q?
3. How much MOH was applied from the fabrication department to Job P and how much was applied to Job Q?
4. What was the total MOH cost assigned to Job P?
5. If Job P included 20 units, what was its unit product cost?
6. What was the total manufacturing cost assigned to Job Q?
7. If Job Q included 30 units, what was its unit product cost?
8. Assume that Sweeten Company used cost-plus pricing (and a markup percentage 80% of total 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?
9. What was Sweeten Company's COGS for March?
10. What was the Company's Plantwide POH rate?
11. How much MOH was applied to Job P and how much was applied to job Q?
12. If Job P included 20 units, what was its unit product cost?
13. 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 rpices for both jobs when stated on a per unit basis?
15. What was Sweeten Company's COGS for
March?
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Answer 1 | Molding | Fabrication | Note |
Machine Hours | 2,500.00 | 1,500.00 | A |
Fixed Manufacturing overhead | 10,250.00 | 15,150.00 | B |
Fixed Manufacturing overhead rate | 4.10 | 10.10 | C=B/A |
Variable OH Rate | 1.50 | 2.30 | D |
Departmental predetermined OH Rate | 5.60 | 12.40 | E=C+D |
Answer 2 | Job P | Job Q | |
Machine hours used- Molding | 1,800.00 | 900.00 | F |
Departmental predetermined OH Rate | 5.60 | 5.60 | See E |
Overhead applied | 10,080.00 | 5,040.00 | G=F*E |
Answer 3 | Job P | Job Q | |
Machine hours used- Fabrication | 700.00 | 1,000.00 | H |
Departmental predetermined OH Rate | 12.40 | 12.40 | See E |
Overhead applied | 8,680.00 | 12,400.00 | I=H*E |
Answer 4 | Amount $ | Note |
Overhead applied- Molding | 10,080.00 | See G |
Overhead applied- Fabrication | 8,680.00 | See I |
Overhead applied to Job P | 18,760.00 | J |
Answer 5 | Amount $ | Note |
Direct Materials | 14,000.00 | |
Direct Labor | 21,800.00 | |
Overhead applied | 18,760.00 | See J |
Manufacturing cost assigned to Job P | 54,560.00 | K |
Number of units | 20.00 | L |
Unit product cost for Job P | 2,728.00 | M=K/L |
Answer 6 | Amount $ | |
Direct Materials | 8,500.00 | |
Direct Labor | 7,900.00 | |
Overhead applied- Molding | 5,040.00 | See G |
Overhead applied- Fabrication | 12,400.00 | See I |
Manufacturing cost assigned to Job Q | 33,840.00 | N |
Answer 7 | Amount $ | |
Manufacturing cost assigned to Job Q | 33,840.00 | See N |
Number of units | 30.00 | O |
Unit product cost for Job Q | 1,128.00 | P=N/O |
Answer 8 | Job P | Job Q | Note |
Manufacturing cost assigned | 54,560.00 | 33,840.00 | Q= See K, N |
Markup at 80% | 43,648.00 | 27,072.00 | R=Q*80% |
Selling price | 98,208.00 | 60,912.00 | S=Q+R |
Number of units | 20.00 | 30.00 | T |
Selling price per unit | 4,910.40 | 2,030.40 | U=S/T |
Answer 9 | Amount $ | Note |
Manufacturing cost assigned to Job P | 54,560.00 | See K |
Manufacturing cost assigned to Job Q | 33,840.00 | See N |
Cost of good sold | 88,400.00 | |
Answer 10 | ||||
Plant wide predetermined OH Rate | Molding | Fabrication | Total | Note |
Machine Hours | 2,500.00 | 1,500.00 | 4,000.00 | See A |
Variable OH Rate | 1.50 | 2.30 | See D | |
Variable OH cost | 3,750.00 | 3,450.00 | 7,200.00 | V=A*D |
Fixed Manufacturing overhead | 10,250.00 | 15,150.00 | 25,400.00 | See B |
Total OH | 32,600.00 | W=V+B | ||
Plant wide predetermined OH Rate | 8.15 | X=W/A |
Answer 11 | Job P | Job Q | Note |
Actual Machine hours | 2,500.00 | 1,900.00 | Y |
Plant wide predetermined OH Rate | 8.15 | 8.15 | See X |
Overhead applied | 20,375.00 | 15,485.00 | Z=Y*X |
Answer 12 |
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