4 14. Assume that Sweeten Company used cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establishselling prices for all of its jobs. What selling price would the company have established for Jobs P and Q? What are the selling pricesfor 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? (Donot round intermediate calculations. Round your final answer to nearest whole dollar.)Total price for the jobSelling price per unitJob PJob Q Required informationThe Foundational 15 (LO2-1, LO2-2, LO2-3, LO2-4][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 company hastwo manufacturing departments-Molding and Fabrication. It started, completed, and sold only two jobs during March-Job P and Job Q. The following additional information is available for the company as a whole and for Jobs P and Q (alldata and questions relate to the month of March):Estimated total machine-hours usedEstimated total fixed manufacturing overheadEstimated variable manufacturing overhead per machine-hourDirect materialsDirect labor costActual machine-hours used:MoldingFabricationTotalJob P$33,000$37,0003,7002,6006,300Job Q$18,000$15,5002,8002,9005,700Molding Fabrication Total2,5001,5004,000$33,000$15,000$18,000$ 3.40 $4.20.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 asthe allocation base. For questions 9-15, assume that the company uses departmental predetermined overhead rates withmachine-hours as the allocation base in both departments.

Cost accounting, which includes the tracking, evaluation, and reporting of an organization's…

Answered: 14. Assume that Sweeten Company used…

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter2: Accounting For Materials

Section: Chapter Questions

Problem 10P

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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 company has two manufacturing departments—Molding and Fabrication. It started, completed, and sold only two jobs during March—Job P and Job Q. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Molding Fabrication Total Estimated total machine-hours used 2,500 1,500 4,000 Estimated total fixed manufacturing overhead $ 13,000 $ 16,800 $ 29,800 Estimated variable manufacturing overhead per machine-hour $ 2.60 $ 3.40 Job P Job Q Direct materials $ 25,000 $ 14,000 Direct labor cost $ 30,600 $ 12,300 Actual machine-hours used: Molding 2,900 2,000 Fabrication 1,800 2,100 Total 4,700 4,100…
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 company has two manufacturing departments—Molding and Fabrication. It started, completed, and sold only two jobs during March—Job P and Job Q. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Molding Fabrication Total Estimated total machine-hours used 2,500 1,500 4,000 Estimated total fixed manufacturing overhead $ 13,000 $ 16,800 $ 29,800 Estimated variable manufacturing overhead per machine-hour $ 2.60 $ 3.40 Job P Job Q Direct materials $ 25,000 $ 14,000 Direct labor cost $ 30,600 $ 12,300 Actual machine-hours used: Molding 2,900 2,000 Fabrication 1,800 2,100 Total 4,700 4,100…
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 company has two manufacturing departments—Molding and Fabrication. It started, completed, and sold only two jobs during March—Job P and Job Q. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Molding Fabrication Total Estimated total machine-hours used 2,500 1,500 4,000 Estimated total fixed manufacturing overhead $ 13,000 $ 16,800 $ 29,800 Estimated variable manufacturing overhead per machine-hour $ 2.60 $ 3.40 Job P Job Q Direct materials $ 25,000 $ 14,000 Direct labor cost $ 30,600 $ 12,300 Actual machine-hours used: Molding 2,900 2,000 Fabrication 1,800 2,100 Total 4,700 4,100…
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 company has two manufacturing departments—Molding and Fabrication. It started, completed, and sold only two jobs during March—Job P and Job Q. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Molding Fabrication Total Estimated total machine-hours used 2,500 1,500 4,000 Estimated total fixed manufacturing overhead $ 13,000 $ 16,800 $ 29,800 Estimated variable manufacturing overhead per machine-hour $ 2.60 $ 3.40 Job P Job Q Direct materials $ 25,000 $ 14,000 Direct labor cost $ 30,600 $ 12,300 Actual machine-hours used: Molding 2,900 2,000 Fabrication 1,800 2,100 Total 4,700 4,100…
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 company has two manufacturing departments—Molding and Fabrication. It started, completed, and sold only two jobs during March—Job P and Job Q. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Molding Fabrication Total Estimated total machine-hours used 2,500 1,500 4,000 Estimated total fixed manufacturing overhead $ 13,000 $ 16,800 $ 29,800 Estimated variable manufacturing overhead per machine-hour $ 2.60 $ 3.40 Job P Job Q Direct materials $ 25,000 $ 14,000 Direct labor cost $ 30,600 $ 12,300 Actual machine-hours used: Molding 2,900 2,000 Fabrication 1,800 2,100 Total 4,700 4,100…
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 company has two manufacturing departments—Molding and Fabrication. It started, completed, and sold only two jobs during March—Job P and Job Q. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Molding Fabrication Total Estimated total machine-hours used 2,500 1,500 4,000 Estimated total fixed manufacturing overhead $ 13,000 $ 16,800 $ 29,800 Estimated variable manufacturing overhead per machine-hour $ 2.60 $ 3.40 Job P Job Q Direct materials $ 25,000 $ 14,000 Direct labor cost $ 30,600 $ 12,300 Actual machine-hours used: Molding 2,900 2,000 Fabrication 1,800 2,100 Total 4,700 4,100…
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 company has two manufacturing departments—Molding and Fabrication. It started, completed, and sold only two jobs during March—Job P and Job Q. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Molding Fabrication Total Estimated total machine-hours used 2,500 1,500 4,000 Estimated total fixed manufacturing overhead $ 13,000 $ 16,800 $ 29,800 Estimated variable manufacturing overhead per machine-hour $ 2.60 $ 3.40 Job P Job Q Direct materials $ 25,000 $ 14,000 Direct labor cost $ 30,600 $ 12,300 Actual machine-hours used: Molding 2,900 2,000 Fabrication 1,800 2,100 Total 4,700 4,100…
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 company has two manufacturing departments—Molding and Fabrication. It started, completed, and sold only two jobs during March—Job P and Job Q. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Molding Fabrication Total Estimated total machine-hours used 2,500 1,500 4,000 Estimated total fixed manufacturing overhead $ 13,000 $ 16,800 $ 29,800 Estimated variable manufacturing overhead per machine-hour $ 2.60 $ 3.40 Job P Job Q Direct materials $ 25,000 $ 14,000 Direct labor cost $ 30,600 $ 12,300 Actual machine-hours used: Molding 2,900 2,000 Fabrication 1,800 2,100 Total 4,700 4,100…
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 company has two manufacturing departments—Molding and Fabrication. It started, completed, and sold only two jobs during March—Job P and Job Q. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Molding Fabrication Total Estimated total machine-hours used 2,500 1,500 4,000 Estimated total fixed manufacturing overhead $ 13,000 $ 16,800 $ 29,800 Estimated variable manufacturing overhead per machine-hour $ 2.60 $ 3.40 Job P Job Q Direct materials $ 25,000 $ 14,000 Direct labor cost $ 30,600 $ 12,300 Actual machine-hours used: Molding 2,900 2,000 Fabrication 1,800 2,100 Total 4,700 4,100…
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 company has two manufacturing departments-Molding and Fabrication. It started, completed, and sold only two jobs during March- Job P and Job Q. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Molding 2,600 $ 10,400 $ 1.40 Fabrication 1,560 $ 15,600 $ 2.20 Total 4,160 $ 26,000 Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Job P Direct materials Direct labor cost $ 13,520 $ 21,840 Job Q $ 8,320 $ 7,800 Actual machine-hours used: Molding Fabrication 1,780 830 620 930 Total 2,400 1,760 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1…
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 company has two manufacturing departments-Molding and Fabrication. It started, completed, and sold only two jobs during March- Job P and Job Q. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Molding 2,600 $ 10,400 $ 1.40 Fabrication Total Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour 1,560 $ 15,600 $ 2.20 4,160 $ 26,000 Job Q $ 8,320 $ 7,800 Job P $ 13,520 $ 21,840 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication 1,780 830 620 930 Total 2,400 1,760 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1…
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 company has two manufacturing departments-Molding and Fabrication. It started, completed, and sold only two jobs during March- Job P and Job Q. The following additional information is available for the company as a whole and for Jobs P and Q (al| data and questions relate to the month of March): Molding 2,600 $ 10,400 $ 1.40 Fabrication Total 4,160 $ 26,000 Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour 1,560 $ 15,600 $ 2.20 Direct materials Direct labor cost Actual machine-hours used: Job P $ 13,520 $ 21,840 Job Q $ 8,320 $ 7,800 Molding Fabrication 1,780 620 830 930 Total 2,400 1,760 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1…

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