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

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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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O Foundational 15 - Chapter Two i 1 Part 1 of 15 . 1 points eBook Mc Graw Hill 10 83 Print References Dashboard 78 ChatGPT: Optimizing Language Models for D... Direct materials. Direct labor cost Actual machine-hours used: Molding Fabrication Total ezto.mheducation.com TO FEB 10 Saved < 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 predetermined overhead rate based on machine-hours. At the beginning of the year, it estimated that 4,000 machine-hours would be required for the period's estimated level of production. Sweeten also estimated $28,600 of fixed manufacturing overhead 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 its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following additional information to enable calculating departmental overhead rates: Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Monday, March 6 Job P $ 22,000 $ 28,200 1 2 3 S 2,600 1,500 4.100 *** Comparing Themes, Videos Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year. 15 tv Ć Molding 2,500 $ 12,250 $ 2.30 Job Q $ 12,500 $ 11,100 1,700 1,800 3,500 of 15 Help +88 M Question 1-Foundational 15 - Chapter Two.... Fabrication 1,500 Total 4,000 $ 16,350 $ 28,600 $ 3.10 Next > Save & Exit Writing Assignment #3 (3 questions) Text page 135: #16, Chapter 4 (12 pts.) AND A A Submit Check my work
Transcribed Image Text:O Foundational 15 - Chapter Two i 1 Part 1 of 15 . 1 points eBook Mc Graw Hill 10 83 Print References Dashboard 78 ChatGPT: Optimizing Language Models for D... Direct materials. Direct labor cost Actual machine-hours used: Molding Fabrication Total ezto.mheducation.com TO FEB 10 Saved < 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 predetermined overhead rate based on machine-hours. At the beginning of the year, it estimated that 4,000 machine-hours would be required for the period's estimated level of production. Sweeten also estimated $28,600 of fixed manufacturing overhead 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 its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following additional information to enable calculating departmental overhead rates: Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Monday, March 6 Job P $ 22,000 $ 28,200 1 2 3 S 2,600 1,500 4.100 *** Comparing Themes, Videos Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year. 15 tv Ć Molding 2,500 $ 12,250 $ 2.30 Job Q $ 12,500 $ 11,100 1,700 1,800 3,500 of 15 Help +88 M Question 1-Foundational 15 - Chapter Two.... Fabrication 1,500 Total 4,000 $ 16,350 $ 28,600 $ 3.10 Next > Save & Exit Writing Assignment #3 (3 questions) Text page 135: #16, Chapter 4 (12 pts.) AND A A Submit Check my work
nal 15 - Chapter Two ChatGPT Optimizing Language Models for D... Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Predetermined overhead rate Saved < Prev Job P $ 22,000 $ 28,200 per MH 2,600 1,500 4,100 Sm 12 3 555 1. What is the company's plantwide predetermined overhead rate? (Round your answer to 2 decimal places.) *** Comparing Themes, Videos Total Sweeten 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 departmental overhead rates with machine-hours as the allocation base in both departments. 15 Job Q $ 12,500 $ 11,100 1,700 1,800 3,500 of 15 Help ‒‒‒ M Question 1-Fo Next > Save & Exit Check
Transcribed Image Text:nal 15 - Chapter Two ChatGPT Optimizing Language Models for D... Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Predetermined overhead rate Saved < Prev Job P $ 22,000 $ 28,200 per MH 2,600 1,500 4,100 Sm 12 3 555 1. What is the company's plantwide predetermined overhead rate? (Round your answer to 2 decimal places.) *** Comparing Themes, Videos Total Sweeten 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 departmental overhead rates with machine-hours as the allocation base in both departments. 15 Job Q $ 12,500 $ 11,100 1,700 1,800 3,500 of 15 Help ‒‒‒ M Question 1-Fo Next > Save & Exit Check
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