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 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$18,000$25,0002,2001,1003,300Unit product costJob Q$10,500$9,5001,3001,4002,700Molding2,500$11,250$ 1.90Fabrication1,500$15,750$ 2.70Total4,000$27,000Sweeten 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-hoursas 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.5. If Job P included 20 units, what was its unit product cost? (Do not round intermediate calculations. Round your final answer tonearest whole dollar.) [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$18,000$25,0002,2001,1003,300Total manufacturing costJob Q$10,500$9,5001,3001,4002,700Molding2,500$11,250$ 1.90Fabrication1,500$15,7502.70$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-hoursas 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.4. What was the total manufacturing cost assigned to Job P? (Do not round intermediate calculations.)Total4,000$27,000

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Description: 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 hastwo manufacturing departments-Molding and Fabrica

Overhead expenses are what it costs to run the business, including rent, insurance, and utilities.…

Business

Accounting

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 $18,000 $25,000 2,200 1,100 3,300 Job Q $10,500 $ 9,500 1,300 1,400 2,700 Molding 2,500 $11,250 $ 1.90 Total Fabrication 1,500 4,000 $15,750 $27,000 $ 2.70 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.

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 $18,000 $25,000 2,200 1,100 3,300 Job Q $10,500 $ 9,500 1,300 1,400 2,700 Molding 2,500 $11,250 $ 1.90 Total Fabrication 1,500 4,000 $15,750 $27,000 $ 2.70 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.

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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The following information applies to the questions displayed below.] Marco Company shows the following costs for three jobs worked on in April. Balances on March 31 Direct materials used (in March) Direct labor used (in March) Overhead applied (March) Costs during April Direct materials used Direct labor used Overhead applied Status on April 30 Job 306 $ 34,200 25,200 15, 200 148,000 90,200 ? Finished (sold) Job 307 $ 40,200 23, 200 14, 200 233,000 163,000 ? Finished (unsold) Additional Information 3. Raw Materials Inventory has a March 31 balance of $85,200. >. Raw materials purchases in April are $513,000, and total actory payroll cost in April is $376,000. >. Actual overhead costs incurred in April are indirect materials, $53,250; indirect labor, $26,250; factory rent, $35,250; factory utilities, $22,250; and factory equipment depreciation, $54,250. 1. Predetermined overhead rate is 50% of direct labor cost. e. Job 306 is sold for $648,000 cash in April. aterials purchases (on…
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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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