14. Assume that Sweeten Company used cost-plus pricing (and a markup percentage of 809% 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 essuming 20 units were produced for Job Pand 30 units were produced for Job Q? (Do not round ntermedlate 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 calculations.) Required information [The following infonmation applies to he questions displayed below Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. The company has two menufecturing depertments-Molding and Fabricetion. it started. completed, and sold only two jobs during March-Job Pand Job a The following edditional informetion is evelable for the company es a whole and for Jobs Pand Q (all date and questions relate to the month of Merch): Estinted total achine-hours used Estinsted total fixed meufacturing overhead Estisated variable nanufacturing overhead per sachine-hour iding cation Total 2,500 S11,00 SIS,6ee s26,60e 5 1.88 S 2.60 1,500 Oirect saterlals Direct labor cest Actual mechine-hours used: lding Fabrication S24,200 $ 9,100 2,1ee 1,00e 1,200 Tetal 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 retes with mechine-hours as the allocation bese in both departments.
14. Assume that Sweeten Company used cost-plus pricing (and a markup percentage of 809% 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 essuming 20 units were produced for Job Pand 30 units were produced for Job Q? (Do not round ntermedlate 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 calculations.) Required information [The following infonmation applies to he questions displayed below Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. The company has two menufecturing depertments-Molding and Fabricetion. it started. completed, and sold only two jobs during March-Job Pand Job a The following edditional informetion is evelable for the company es a whole and for Jobs Pand Q (all date and questions relate to the month of Merch): Estinted total achine-hours used Estinsted total fixed meufacturing overhead Estisated variable nanufacturing overhead per sachine-hour iding cation Total 2,500 S11,00 SIS,6ee s26,60e 5 1.88 S 2.60 1,500 Oirect saterlals Direct labor cest Actual mechine-hours used: lding Fabrication S24,200 $ 9,100 2,1ee 1,00e 1,200 Tetal 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 retes with mechine-hours as the allocation bese in both departments.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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 calculatlons. 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 dispiayed 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 Fabricetion. It started, completed, and sold
only two jobs during March-Job Pend Job Q. The following edditional informetion is aveilable for the
company as a whole and for Jobs Pand Q (all data and questions relate to the month of March):
Estimated total nachine-hours used
Estinated total fixed manufacturing overhead
Estimated variable ranufacturing overhead per machine-hour
Holding Fabeication Total
1,500
S15,600 $26,600
$ 2.68
4,000
2,500
S11,000
S 1.80
Job P
$17,000 $10,000
$24, 200 $ 9, 109
Job 0
Oirect materials
Direct labor cost
Actual machine-hours used:
Molding
Fabrication
1,200
2,100
1,00e
3,100
1,300
Total
2,00
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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