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 predeterminedoverhead rate based on machine-hours. At the beginning of the year, it estimated that 4,000 machine-hours would berequired for the period's estimated level of production. Sweeten also estimated $29,800 of fixed manufacturing overheadcost for the coming period and variable manufacturing overhead of $2.90 per machine-hour.Because Sweeten has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwideoverhead rate with departmental rates that would also be based on machine-hours. The company gathered the followingadditional information to enable calculating departmental overhead rates:Estimated total machine-hours usedMolding Fabrication2,500 1,500$ 16,800$ 3.40Estimated total fixed manufacturing overhead$ 13,000$ 2.60Estimated variable manufacturing overhead per machine-hourThe direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows:Direct materialsDirect labor costActual machine-hours used:MoldingFabricationJob P$ 25,000$ 30,600Foundational 2-13 (Algo)2,9001,8004,70013. If Job Q includes 30 units, what is its unit product cost?Job Q$ 14,000$ 12,300Total2,0002,1004,100TotalSweeten 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 asthe allocation base. For questions, 9-15, assume that the company uses predetermined departmental overhead rates withmachine-hours as the allocation base in both departments.4,000$ 29,800 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 predeterminedoverhead rate based on machine-hours. At the beginning of the year, it estimated that 4,000 machine-hours would berequired for the period's estimated level of production. Sweeten also estimated $29,800 of fixed manufacturing overheadcost for the coming period and variable manufacturing overhead of $2.90 per machine-hour.Because Sweeten has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwideoverhead rate with departmental rates that would also be based on machine-hours. The company gathered the followingadditional information to enable calculating departmental overhead rates:Direct materialsDirect labor costActual machine-hours used:MoldingFabricationEstimated total machine-hours usedEstimated total fixed manufacturing overheadEstimated variable manufacturing overhead per machine-hourThe direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows:Job P$ 25,000$ 30,6002,9001,8004,700Molding Fabrication2,5001,500$ 16,800$ 3.40$ 13,000$ 2.60Foundational 2-15 (Algo)15. What is Sweeten Company's cost of goods sold for the year?Note: Do not round intermediate calculationeJob Q$ 14,000$ 12,300Total2,0002,1004,1004,000$ 29,800TotalSweeten 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 asthe allocation base. For questions, 9-15, assume that the company uses predetermined departmental overhead rates withmachine-hours as the allocation base in both departments.

Name: Sweeten Company had no jobs in progress at the beginning of the year
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: 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 predeterminedoverhead rate based on machine