OFoundational 15 - Chapter Two i1Part 1 of 15.1pointseBookMcGrawHill1083PrintReferencesDashboard78ChatGPT: Optimizing Language Models for D...Direct materials.Direct labor costActual machine-hours used:MoldingFabricationTotalezto.mheducation.comTO FEB10Saved< Prev[The following information applies to the questions displayed below.]Sweeten Company had no jobs in progress at the beginning of the year and no beginning inventories. It started,completed, and sold only two jobs during the year-Job P and Job Q. The company uses a plantwide predeterminedoverhead rate based on machine-hours. At the beginning of the year, it estimated that 4,000 machine-hours wouldbe required for the period's estimated level of production. Sweeten also estimated $28,600 of fixed manufacturingoverhead cost for the coming period and variable manufacturing overhead of $2.60 per machine-hour.Because Sweeten has two manufacturing departments-Molding and Fabrication-it is considering replacing itsplantwide overhead rate with departmental rates that would also be based on machine-hours. The companygathered the following additional information to enable calculating departmental overhead rates:Estimated total machine-hours usedEstimated total fixed manufacturing overheadEstimated variable manufacturing overhead per machine-hourThe direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows:Monday, March 6Job P$ 22,000$ 28,2001 2 3S2,6001,5004.100***Comparing Themes, VideosSweeten Company had no overapplied or underapplied manufacturing overhead costs during the year.15tvĆMolding2,500$ 12,250$ 2.30Job Q$ 12,500$ 11,1001,7001,8003,500of 15Help+88M Question 1-Foundational 15 - Chapter Two....Fabrication1,500Total4,000$ 16,350 $ 28,600$ 3.10Next >Save & ExitWriting Assignment #3 (3 questions)Text page 135: #16, Chapter 4 (12 pts.) ANDAASubmitCheck my work nal 15 - Chapter TwoChatGPT Optimizing Language Models for D...Direct materialsDirect labor costActual machine-hours used:MoldingFabricationPredetermined overhead rateSaved< PrevJob P$ 22,000$ 28,200per MH2,6001,5004,100Sm12 35551. What is the company's plantwide predetermined overhead rate? (Round your answer to 2 decimal places.)***Comparing Themes, VideosTotalSweeten Company had no overapplied or underapplied manufacturing overhead costs during the year.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 predetermined departmentaloverhead rates with machine-hours as the allocation base in both departments.15Job Q$ 12,500$ 11,1001,7001,8003,500of 15Help‒‒‒M Question 1-FoNext >Save & ExitCheck

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Description: OFoundational 15 - Chapter Two i1Part 1 of 15.1pointseBookMcGrawHill1083PrintReferencesDashboard78ChatGPT: Optimizing Language Models for D...Direct materials.Direct labor costActual machine-hours used:MoldingFabricationTotalezto.mheducation.comTO F

Predetermined overhead rate A rate of overhead which is used to allocate the production overheads to…

Answered: 1. What is the company's plantwide…

Business

Accounting

1. What is the company's plantwide predetermined overhead rate? (Round your answer to 2 decimal places.) Predetermined overhead rate per MH

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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! Required information [The following information applies to the questions displayed below.] Cane Company manufactures two products called Alpha and Beta that sell for $135 and $95, respectively. Each product uses only one type of raw material that costs $6 per pound. The company has the capacity to annually produce 105,000 units of each product. Its unit costs for each product at this level of activity are given below: Direct materials Direct labour Variable manufacturing overhead Traceable fixed manufacturing overhead Variable selling expenses Common fixed expenses Cost per unit Alpha $30 23 10 19 15 18 $115 Beta $18 16 8 21 11 13 $87 The company considers its traceable fixed manufacturing overhead to be avoidable, whereas its common fixed expenses are deemed unavoidable and have been allocated to products based on sales dollars.
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24: Seat Belt Inc., produces three sizes of seat belts: small, medium, and large. A seat belt pattern is first stenciled onto fabric in the Pattern Department. The stenciled patterns are then sent to the Cut and Sew Department, where the seat belt is cut and sewed together. Seat Belt Inc. uses the multiple production department factory overhead rate method of allocating factory overhead costs. Its factory overhead costs were budgeted as follows: Overhead Dollars Direct Labor Hours Pattern Department: Cut and Sew Department Overhead: 40,000 dh 60,000 dlb $300,000 $600,000 $900,000 Totals: 100,000 The Company decides to use the Multiple Department Overhead method, and Direct Labor Hours are used to allocate the overhead. We know the following for each type of seatbelt: Small Medium 1.0 dlh 1.5 dlb 2.5 dlh Large 2.0 dlh 3.0 dlb 5.0 dla Pattern Department: Cut and Sew Department: 1.5 dla 2.5 dlh 4.0 dlk Total Per Unit Part I: Calculate the Departmental Factory Overhead Rate for each…
for 11; 12; 13; and 15 11. Using the plantwide overhead rate, what percentage of the total overhead cost is allocated to Product Y and Product Z? Note: Round intermediate calculations to 2 decimal places. Round your "Percentage" answers to 2 decimal place. 12. Using the ABC system, what percentage of the Machining costs is assigned to Product Y and Product Z? Note: Round intermediate calculations and your "Percentage" answers to 2 decimal places. 13. Using the ABC system, what percentage of Machine Setups cost is assigned to Product Y and Product Z? Note: Round intermediate calculations to 2 decimal places. Round your "Percentage" answers to 2 decimal places. 15. Using the ABC system, what percentage of the General Factory cost is assigned to Product Y and Product Z? Note: Round intermediate calculations to 2 decimal places. Round your "Percentage" answers to 2 decimal place.
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