Question

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 4,000 $14,000 $17,400 $31,400 $ 3.00 $ 3.80 1,500 Job P $29,000 $33,800 Job o $16,000 $13,900 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 3,300 2,200 5,500 2,400 2,500 4,900 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

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Sweeten
Answer 1
Plant wide predetermined OH Rate	Molding	Fabrication	Total	Note
Machine Hours	2,500.00	1,500.00	4,000.00	A
Variable OH Rate	3.00	3.80		B
Variable OH cost	7,500.00	5,700.00	13,200.00	C=A*B
Fixed Manufacturing overhead	14,000.00	17,400.00	31,400.00	D
Total OH			44,600.00	E=C+D
Plant wide predetermined OH Rate			11.15	F=E/A

Answer 2	Job P	Job Q	Note
Actual Machine hours	5,500.00	4,900.00	G
Plant wide predetermined OH Rate	11.15	11.15	See F
Overhead applied	61,325.00	54,635.00	H=G*F

Answer 3	Amount $	Note
Direct Materials	29,000.00
Direct Labor	33,800.00
Overhead applied	61,325.00	See H
Manufacturing cost assigned to Job P	124,125.00	I
Answer 4	Amount $
Manufacturing cost assigned to Job P	124,125.00	See I
Number of units	20.00	J
Unit product cost	6,206.25	K=I/J
Answer 5	Amount $
Direct Materials	16,000.00
Direct Labor	13,900.00
Overhead applied	54,635.00	See H
Manufacturing cost assigned to Job Q	84,535.00	L
Answer 6	Amount $
Manufacturing cost assigned to Job Q	84,535.00	See L
Number of units	30.00	M
Unit product cost	2,817.83	N=L/M

Answer 7	Job P	Job Q	Note
Manufacturing cost assigned	124,125.00	84,535.00	O=K,N
Mark up at 80%	99,300.00	67,628.00	P=O*80%
Total price for the job	223,425.00	152,163.00	Q=P+O
Number of units	20.00	30.00	R=J,M
Selling price per unit	11,171.25	5,072.10	S=Q/R

Answer 8	Amount $	Note
Manufacturing cost assigned to Job P	124,125.00	See K
Manufacturing cost assigned to Job Q	84,535.00	See N
Cost of goods sold	208,660.00

Answer 9
Calculation of predetermined OH Rate	Molding	Fabrication	Note
Machine Hours	2,500.00	1,500.00	See A
Fixed Manufacturing overhead	14,000.00	17,400.00	See D
Fixed Manufacturing overhead rate	5.60	11.60	T=D/A
Variable OH Rate	3.00	3.80	See B
Departmental predetermined OH Rate	8.60	15.40	U=T+B

Answer 10- Job P	Molding	Fabrication	Total	Note
Machine hours used	3,300.00	2,400.00	5,700.00	V
Departmental predetermined OH Rate	8.60	15.40		See U
Overhead applied in Job P	28,380.00	36,960.00	65,340.00	W=V*U
Answer 10- Job Q	Molding	Fabrication	Total
Machine hours used	2,200.00	2,500.00	4,700.00	X
Departmental predetermined OH Rate	8.60	15.40		See U
Overhead applied in Job Q	18,920.00	38,500.00	57,420.00	Y=X*U