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13. If Job Q included 30 units, what was its unit product cost? (Do not round Intermedlate 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 seling 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 assuming 20 units were produced for Job Pand 30 units were produced for Job Q? (Do not round Intermedlate calculations. Round your final answer to nearest whole dollar.) 15. What was Sweeten Company's cost of goods sold for March? (Do not round Intermediate calculations.) Required information (The following information apples to the questions displayed below) Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. The compeny hes two manufectuning depertments-Molding and Febrication. It sterted, completed, and sold only two jobs during March-Job P end Job a The following additional informetion is eveleble for the compeny as a whole end for Jobs Pend Q (all dete and questions relate to the month of Merch) chlne rs ed total fixed ufacturing overtead Estinated variable nanufacturing overhead per machine hour N at Ttal 1, 1,00 4,00 SI1, S,cee s, s 1.0 S 2.e Oirect sateriais oirect labor cost Actunl achine hours used lding Fabrication Tetal $17,000 S0,000 2,100 1,200 Sveeten Company had no underapplied or overappled menufecturing overheed costs during the month. Required For questions 18. essume that Sweeten Company uses a planttwide predetermined overhead rate with machine-hours as the allocation bese. For questions 9-15. assume that the company uses departmental predetermined overhead retes with mechine-hours es the allocation bese in both depertments.

13. If Job Q included 30 units, what was its unit product cost? (Do not round Intermedlate 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 seling 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 assuming 20 units were produced for Job Pand 30 units were produced for Job Q? (Do not round Intermedlate calculations. Round your final answer to nearest whole dollar.) 15. What was Sweeten Company's cost of goods sold for March? (Do not round Intermediate calculations.) Required information (The following information apples to the questions displayed below) Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. The compeny hes two manufectuning depertments-Molding and Febrication. It sterted, completed, and sold only two jobs during March-Job P end Job a The following additional informetion is eveleble for the compeny as a whole end for Jobs Pend Q (all dete and questions relate to the month of Merch) chlne rs ed total fixed ufacturing overtead Estinated variable nanufacturing overhead per machine hour N at Ttal 1, 1,00 4,00 SI1, S,cee s, s 1.0 S 2.e Oirect sateriais oirect labor cost Actunl achine hours used lding Fabrication Tetal $17,000 S0,000 2,100 1,200 Sveeten Company had no underapplied or overappled menufecturing overheed costs during the month. Required For questions 18. essume that Sweeten Company uses a planttwide predetermined overhead rate with machine-hours as the allocation bese. For questions 9-15. assume that the company uses departmental predetermined overhead retes with mechine-hours es the allocation bese in both depertments.

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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13. If Job Q included 30 units, what was its unit product cost? (Do not round Intermedlate 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 Pand Q? What are the selling prices for both jobs when stated on a per unit basis assuming 20 units were produced for Job P and 30 units were produced for Job Q? (Do not round Intermedlate calculations. Round your final answer to nearest whole dollar.) 15. What was Sweeten Company's cost of goods sold for March? (Do not round Intermedlate calculatlons.) Required information (The following information applies to the questions displayed below Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. The compeny has two manufecturing departments-Molding and Fabrication. It sterted, completed, end sold only two jobs during March-Job Pend Job Q. The following edditional informetion is evelable for the compeny as a whole and for Jobs Pand Q (all data and questions relate to the month of March): Holding Fabrication Total 2,500 Estinated total nachine-hours used Estimsted total fixed manufacturing overhead Estimated variable nanufacturing overhead per machine-hour 1,500 4,000 S11,000 $15,600 $26,600 5 1.80 $ 2.60 Job P $17,800 510,000 $24, 200 $ 9,100 Job 0 Direct materials Direct labor cost Actual machine-hours used Molding Fabrication 2,100 3,000 3,100 1,200 1,30 2,500 Total 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.
Transcribed Image Text:13. If Job Q included 30 units, what was its unit product cost? (Do not round Intermedlate 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 Pand Q? What are the selling prices for both jobs when stated on a per unit basis assuming 20 units were produced for Job P and 30 units were produced for Job Q? (Do not round Intermedlate calculations. Round your final answer to nearest whole dollar.) 15. What was Sweeten Company's cost of goods sold for March? (Do not round Intermedlate calculatlons.) Required information (The following information applies to the questions displayed below Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. The compeny has two manufecturing departments-Molding and Fabrication. It sterted, completed, end sold only two jobs during March-Job Pend Job Q. The following edditional informetion is evelable for the compeny as a whole and for Jobs Pand Q (all data and questions relate to the month of March): Holding Fabrication Total 2,500 Estinated total nachine-hours used Estimsted total fixed manufacturing overhead Estimated variable nanufacturing overhead per machine-hour 1,500 4,000 S11,000 $15,600 $26,600 5 1.80 $ 2.60 Job P $17,800 510,000 $24, 200 $ 9,100 Job 0 Direct materials Direct labor cost Actual machine-hours used Molding Fabrication 2,100 3,000 3,100 1,200 1,30 2,500 Total 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.
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