14 14 of 15 S -Book Print erences 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 Molding Fabrication 2,500 1,500 Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour $ 12,250 $ 2.30 $ 16,350 $ 3.10 The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total Total price for the job Selling price per unit Job P $ 22,000 $ 28,200 Job P 2,600 1,500 4,100 Job Q Job Q $ 12,500 $ 11,100 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. 1,700 1,800 3,500 14. Assume that Sweeten Company uses cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs. If Job P includes 20 units and Job Q includes 30 units, what selling price would the company establish 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.) Total 4,000 $ 28,600 Check

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
Foundational 15 - Chapter Two i
14
Part 14 of 15
1
points
eBook
Print
ច
References
Dashboard
Mc
Graw
Hill
ChatGPT: Optimizing Language Models for Dialogue
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:
Direct materials
Direct labor cost
Actual machine-hours used:
Molding
Fabrication
Total
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:
Total price for the job
Selling price per unit
Job P
$ 22,000
$ 28,200
Job P
Saved
Job Q
2,600
1,500
4,100
< Prev
Molding Fabrication
2,500
1,500
$ 12,250
$ 2.30
$ 16,350
$ 3.10
Job Q
$ 12,500
$ 11,100
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.
1,700
1,800
3,500
Comparing Themes, Videos
14. Assume that Sweeten Company uses cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish
selling prices for all of its jobs. If Job P includes 20 units and Job Q includes 30 units, what selling price would the company establish
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.)
14 15
Total
4,000
$ 28,600
of 15
⠀
M Question 14-Foundational 15-CH
Next >
Help
Save & Exit Subr
Check my wor
Transcribed Image Text:Foundational 15 - Chapter Two i 14 Part 14 of 15 1 points eBook Print ច References Dashboard Mc Graw Hill ChatGPT: Optimizing Language Models for Dialogue 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: Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 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: Total price for the job Selling price per unit Job P $ 22,000 $ 28,200 Job P Saved Job Q 2,600 1,500 4,100 < Prev Molding Fabrication 2,500 1,500 $ 12,250 $ 2.30 $ 16,350 $ 3.10 Job Q $ 12,500 $ 11,100 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. 1,700 1,800 3,500 Comparing Themes, Videos 14. Assume that Sweeten Company uses cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs. If Job P includes 20 units and Job Q includes 30 units, what selling price would the company establish 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.) 14 15 Total 4,000 $ 28,600 of 15 ⠀ M Question 14-Foundational 15-CH Next > Help Save & Exit Subr Check my wor
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education