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):2,500$10,25024Molding Fabrication Total1,500$15,15024Estimated total machine-hours usedEstimated total fixed manufacturing overheadEstimated variable manufacturing overhead per machine-hour4,000$25,4001.502.30Direct materialsDirect labor costActual machine-hours used:Job P$14,000$21,800Job Q$8,500$7,900MoldingFabrication9001,8007001,0001,900Total2,500Sweeten 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 oerhead rates withmachine-hours as the allocation base in both departments. Foundational 2-44. If Job P included 20 units, what was its unit product cost? (Do not round intermediate calculations. Round your final answer tonearest whole dollar.)Unit product cost

Name: Sweeten Company had no jobs in progress at the beginning of March and
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Description: 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 fol

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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): Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Molding Fabrication Total 1,500 $15,150 $ 2.30 2,500 $10,250 $ 1.50 4,000 $25,400 Job Q $8,500 $7,900 Job P Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total $14,000 $21,800 1,800 700 2,500 900 1,000 1,900 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month.

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): Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Molding Fabrication Total 1,500 $15,150 $ 2.30 2,500 $10,250 $ 1.50 4,000 $25,400 Job Q $8,500 $7,900 Job P Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total $14,000 $21,800 1,800 700 2,500 900 1,000 1,900 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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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): Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total Job P $ 13,000 $ 21,000 Manufacturing overhead applied 1,700 600 2,300 Job P Job Q $ 8,000 $ 7,500 800 900 1,700 Job Q Molding 2,500 $ 10,000 $ 1.40 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1 to 9, assume…
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Dream Makers is a small manufacturer of gold and platinum jewelry. It uses a job costing system that applies overhead on the basis of direct labor hours. Budgeted factory overhead for the year was $465,800, and management budgeted 34,000 direct labor-hours. The company had no Materials, Work-in-Process, or Finished Goods Inventory at the beginning of April. These transactions were recorded during April: April insurance cost for the manufacturing property and equipment was $1,850. The premium had been paid in January. Recorded $1,060 depreciation on an administrative asset. Purchased 21 pounds of high-grade polishing materials at $16 per pound (indirect materials). Paid factory utility bill, $6,550, in cash. Incurred 4,000 hours and paid payroll costs of $160,000. Of this amount, 1,000 hours and $20,000 were indirect labor costs. Incurred and paid other factory overhead costs, $6,300. Purchased $25,000 of materials. Direct materials included unpolished semiprecious stones and gold.…
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Required inTormation [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 4,200 $ 16,800 Fabrication 2,520 $25, 200 Total Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine- 6,720 $ 42,000 hour $ 1.40 $2.20 Job Q $ 13,440 $ 12,600 Job P Direct materials Direct labor cost Actual machine-hours used: $ 21,840 $ 35,280 Molding Fabrication 2,890 1,340 1,480 1,010 Total 3,900 2,820 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For…
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): Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total Cost of goods sold Job P $ 13,000 $ 21,000 $ 1,700 600 2,300 81,840 Job Q $ 8,000 $ 7,500 800 900 1,700 Molding 2,500 $ 10,000 $ 1.40 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1 to 9, assume that Sweeten…