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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 MarchJob 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): Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1 to 9, assume that Sweeten Company uses departmental predetermined overhead rates with machinehours as the allocation base in both departments and Job P included 20 units and Job Q included 30 units. For questions 10 to 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 yo 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 a 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.)
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 MarchJob 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): Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1 to 9, assume that Sweeten Company uses departmental predetermined overhead rates with machinehours as the allocation base in both departments and Job P included 20 units and Job Q included 30 units. For questions 10 to 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 yo 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 a 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.)
1. Thepredeterminedoverheadratesfor the Molding Department and the Fabrication Department can be calculated by dividing the total estimated overhead costs for each department by the total estimated machine-hours for each department.Let's assume that the estimated overhead costs for the Molding Department are $50,000 and the estimated machine-hours are 10,000. The predetermined overhead rate for the MoldingDepartmentwould be $50,000 / 10,000 = $5 per machine-hour.Similarly, if the estimated overhead costs for the Fabrication Department are $80,000 and the estimatedmachine-hoursare 20,000, the predetermined overhead rate for the Fabrication Department would be $80,000 / 20,000 = $4 per machine-hour.2. To calculate the manufacturing overhead applied from the Molding Department to Job P, we multiply the predetermined overhead rate of $5 per machine-hour by the actual machine-hours used for Job P. Similarly, we calculate the manufacturing overhead applied from the Molding Department to Job Q.Let's assume that Job P used 50 machine-hours and Job Q used 60 machine-hours. The manufacturing overhead applied from the Molding Department to Job P would be $5 per machine-hour * 50 machine-hours = $250. The manufacturing overhead applied from the Molding Department to Job Q would be $5 per machine-hour * 60 machine-hours = $300.3. Similarly, we can calculate the manufacturing overhead applied from the Fabrication Department to Job P and Job Q using the predetermined overhead rate of $4 per machine-hour.4. The total manufacturing cost assigned to Job P would include the direct materials, direct labor, and manufacturing overhead applied to the job. To calculate this, we add the direct materials cost, direct laborcost, and manufacturing overhead applied from both departments to Job P.5. The unit product cost for Job P can be calculated by dividing the total manufacturing cost assigned to Job P by the number of units produced (which is given as 20 units). This will give us the cost per unit.6. Similarly, we can calculate the total manufacturing cost assigned to Job Q by adding the direct materials cost, direct labor cost, and manufacturing overhead applied to Job Q.7. The unit product cost for Job Q can be calculated by dividing the total manufacturing cost assigned to Job Q by the number of units produced (which is given as 30 units).8. To calculate the selling price for Jobs P and Q, we need to use the cost-plus pricing method. This involves adding a markup percentage to the total manufacturing cost of each job. The markup percentage is given as 80% of the total manufacturing cost.9. The cost of goods sold for March can be calculated by summing up the total manufacturing costs assigned to all jobs completed and sold during the month.In summary, the company's predetermined overhead rates for the Molding Department and the Fabrication Department can be calculated by dividing the estimated overhead costs by the estimated machine-hours. The manufacturing overhead applied to each job can be calculated by multiplying the predetermined overhead rate by the actual machine-hours used for each job. The total manufacturing cost assigned to each job can be calculated by adding...