Question

Connect CHE Chapter 20 Saved 1 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 (all data and questions relate to the month of March): 1 of 8 3 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 -Book Job P $13,000 $21, Job o $8,000 $7,500 erences Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 1,700 6ee 800 980 1,700 2,300 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

6800 25000 31800 4000 7.951 jobp 42 answer: 43 44 PlantwdeOh rate per Mh: 45 Total variable overheads (1.40*2500+2.20*1500): 46 Total Fixed overheads 47 Total Overheads 48 Divide: Total MH 49 OH rate per MH 50 51 OH applied: 52 53 Total MH used 54 Multiply: OH rate per MH 55 OH applied 56 57 Total Manufacturing cost of Job P: 58 Material cost 59 Labour cost 60 Overheads applied 61 Total Manufacturing cost of Job P: 62 63 Unit product Cost 64 Total Mfg cost 65 Dvide: Units produced 66 Unit product Cost 67 job 23001 7.95 18285 1700 7.95 13515 130001 21000 18285 52285 522851 20 2614.25

8000 7500 13515 29015 8 Total Manufacturing cost of Job 0: 9 Material cost o Labour cost 1 Overheads applied 2 Total Manufacturing cost of Job Q: 3 4 Unit product Cost 5 Total Mfg cost 6 Dvide: Units produced 7 Unit product Cost 290151 30 967.1667 8 job 9 Req 7. o Total Price 1 2 Total MFg cost 3 Add: Markup 4 Total Price 5 Divide: Units 6 Selling price 7 8 Total Price 9 Selling price job P 52285 41828 94113 20 4705.65 29015 232121 522271 301 1740.91 94113 4705.65 522271 1740.9 0 1 Req 8. 2 Cost of goods sold (52285+29015): 81300 3

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