! 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 2,900 $11,600 Total Estimated total machine-hours used 1,740 4,640 Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour $17,400 $29,000 1.40 $ 2.20 Job P Job 0 $9,280 $8,700 Direct materials $15,080 $24,360 Direct labor cost Actual machine-hours used: Molding Fabrication 2,000 930 700 1,010 Total 2,700 1,940 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1-9, assume that Sweeten Company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments and Job P included 20 units and Job Q included 30 units. For questions 10-15, assume that the company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. 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 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.) Job P Job Q Total price for the job Selling price per unit
! 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 2,900 $11,600 Total Estimated total machine-hours used 1,740 4,640 Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour $17,400 $29,000 1.40 $ 2.20 Job P Job 0 $9,280 $8,700 Direct materials $15,080 $24,360 Direct labor cost Actual machine-hours used: Molding Fabrication 2,000 930 700 1,010 Total 2,700 1,940 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1-9, assume that Sweeten Company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments and Job P included 20 units and Job Q included 30 units. For questions 10-15, assume that the company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. 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 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.) Job P Job Q Total price for the job Selling price per unit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Need help stuck on 2 questions.
![!
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
2,900
$11,600
$ 1.40
Total
Estimated total machine-hours used
Estimated total fixed manufacturing overhead
Estimated variable manufacturing overhead per machine-hour
1,740
$17,400
$ 2.20
4,640
$29,000
Job P
Job Q
$15,080
$24,360
Direct materials
$9,280
$8,700
Direct labor cost
Actual machine-hours used:
Molding
Fabrication
2,000
930
700
1,010
1,940
Total
2,700
Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month.
Required:
For questions 1-9, assume that Sweeten Company uses departmental predetermined overhead rates with machine-hours
as the allocation base in both departments and Job P included 20 units and Job Q included 30 units. For questions 10-15,
assume that the company uses a plantwide predetermined overhead rate with machine-hours as the allocation base.
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 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.)
Job P
Job Q
Total price for the job
Selling price per unit](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5fdfed36-42f7-4753-bff6-d73ae25803b5%2Ff87eb571-c423-4e07-8fbd-d66f6fae46c0%2Fok421y6_processed.png&w=3840&q=75)
Transcribed Image Text:!
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
2,900
$11,600
$ 1.40
Total
Estimated total machine-hours used
Estimated total fixed manufacturing overhead
Estimated variable manufacturing overhead per machine-hour
1,740
$17,400
$ 2.20
4,640
$29,000
Job P
Job Q
$15,080
$24,360
Direct materials
$9,280
$8,700
Direct labor cost
Actual machine-hours used:
Molding
Fabrication
2,000
930
700
1,010
1,940
Total
2,700
Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month.
Required:
For questions 1-9, assume that Sweeten Company uses departmental predetermined overhead rates with machine-hours
as the allocation base in both departments and Job P included 20 units and Job Q included 30 units. For questions 10-15,
assume that the company uses a plantwide predetermined overhead rate with machine-hours as the allocation base.
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 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.)
Job P
Job Q
Total price for the job
Selling price per unit
![!
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
1,740
$17,400
$
Total
Estimated total machine-hours used
2,900
4,640
Estimated total fixed manufacturing overhead
Estimated variable manufacturing overhead per machine-hour
$11,600
$ 1.40
$29,000
2.20
Job P
Job Q
Direct materials
$15,080
$24,360
$9,280
$8,700
Direct labor cost
Actual machine-hours used:
Molding
2,000
930
Fabrication
700
1,010
1,940
Total
2,700
Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month.
Required:
For questions 1-9, assume that Sweeten Company uses departmental predetermined overhead rates with machine-hours
as the allocation base in both departments and Job P included 20 units and Job Q included 30 units. For questions 10-15,
assume that the company uses a plantwide predetermined overhead rate with machine-hours as the allocation base.
15. What was Sweeten Company's cost of goods sold for March? (Do not round intermediate calculations.)
Cost of goods sold](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5fdfed36-42f7-4753-bff6-d73ae25803b5%2Ff87eb571-c423-4e07-8fbd-d66f6fae46c0%2Fqh58o7to_processed.png&w=3840&q=75)
Transcribed Image Text:!
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
1,740
$17,400
$
Total
Estimated total machine-hours used
2,900
4,640
Estimated total fixed manufacturing overhead
Estimated variable manufacturing overhead per machine-hour
$11,600
$ 1.40
$29,000
2.20
Job P
Job Q
Direct materials
$15,080
$24,360
$9,280
$8,700
Direct labor cost
Actual machine-hours used:
Molding
2,000
930
Fabrication
700
1,010
1,940
Total
2,700
Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month.
Required:
For questions 1-9, assume that Sweeten Company uses departmental predetermined overhead rates with machine-hours
as the allocation base in both departments and Job P included 20 units and Job Q included 30 units. For questions 10-15,
assume that the company uses a plantwide predetermined overhead rate with machine-hours as the allocation base.
15. What was Sweeten Company's cost of goods sold for March? (Do not round intermediate calculations.)
Cost of goods sold
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