Question

Chapter 2 Homework Assignment i Saved Help 1 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 the month of March): Part 1 of 15 Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Molding Fabrication 2,500 1,500 $11,000 $15,600 $ 1.80 $ 2.60 Total 4,000 $26,600 1 points Skipped Job P $17,000 $24,200 Job $10,000 $ 9,100 eBook Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total References 2,100 1,000 3,100 1,200 1,300 2,500 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1-9, assume that Sweeten Company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments and Job P included 20 units and Job Q included 30 units. For questions 10-15, assume that the company uses a plantwide predetermined overhead rate with machine-hours as the allocation base.

1. What were the company’s predetermined overhead rates in the Molding Department and the Fabrication Department? (Round your answers to 2 decimal places.)

2. How much manufacturing overhead was applied from the Molding Department to Job P and how much was applied to Job Q? (Do not round intermediate calculations.)

3. How much manufacturing overhead was applied from the Fabrication Department to Job P and how much was applied to Job Q? (Do not round intermediate calculations.)

4. What was the total manufacturing cost assigned to Job P? (Do not round intermediate calculations.)

5. If Job P included 20 units, what was its unit product cost? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.)

6. What was the total manufacturing cost assigned to Job Q? (Do not round intermediate calculations.)

7. If Job Q included 30 units, what was its unit product cost? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.)

8. 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 prices for both jobs when stated on a per unit basis? (Do not round intermediate calculations. Round your final answers to nearest whole dollar.)

9. What was Sweeten Company’s cost of goods sold for March? (Do not round intermediate calculations.)

10. What was the company’s plantwide predetermined overhead rate? (Round your answer to 2 decimal places.)

11. How much manufacturing overhead was applied to Job P and how much was applied to Job Q? (Do not round intermediate calculations.)

12. If Job P included 20 units, what was its unit product cost? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.)

13. If Job Q included 30 units, what was its unit product cost? (Do not round intermediate calculations. Round your final answer to nearest whole dollar.)

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 prices for both jobs when stated on a per unit basis? (Do not round intermediate calculations. Round your final answers to nearest whole dollar.)

Answer 1

1) Molding overhead rate = (11000/2500+1.8) = 6.2 per MH

Fabrication overhead rate = (15600/1500+2.6) = 13 per MH

2) Molding overhead applied

	Job P	Job Q
Molding overhead	2100*6.2 = 13020	1200*6.2 = 7440

3) Fabrication overhead applied

	Job P	Job Q
Fabrication overhead	1000*13 = 13000	1300*13 = 16900

4) Total manufacturing cost for Job P

	Job P
Direct material	17000
Direct labor	24200
Molding overhead	13020
Fabrication overhead	13000
Total manufacturing cost	67220

Note: Pls post whole que in the group of 4-4 sub parts as per Chegg guidelines