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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 predetermine overhead rate based on machine-hours. At the beginning of the year, it estimated that 4,000 machine-hours would be required for the period's estimated level of production. Sweeten also estimated $28,600 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.60 per machine-hour. Because Sweeten has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following additional information to enable calculating departmental overhead rates: Estimated total machine-hours used Molding Fabrication 2,500 1,500 Estimated total fixed manufacturing overhead $ 12,250 $ 16,350 $ 2.30 $ 3.10 Estimated variable manufacturing overhead per machine-hour The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total Job P $ 22,000 $ 28,200 2,600 1,500 4,100 Job Q $ 12,500 $ 11,100 Total 1,700 1,800 3,500 4,000 $28,600

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 predetermine overhead rate based on machine-hours. At the beginning of the year, it estimated that 4,000 machine-hours would be required for the period's estimated level of production. Sweeten also estimated $28,600 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.60 per machine-hour. Because Sweeten has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following additional information to enable calculating departmental overhead rates: Estimated total machine-hours used Molding Fabrication 2,500 1,500 Estimated total fixed manufacturing overhead $ 12,250 $ 16,350 $ 2.30 $ 3.10 Estimated variable manufacturing overhead per machine-hour The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total Job P $ 22,000 $ 28,200 2,600 1,500 4,100 Job Q $ 12,500 $ 11,100 Total 1,700 1,800 3,500 4,000 $28,600

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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www Foundational 15 - Chapter Two i Part 9 of 15 9 1 points eBook Mc Graw Hill 10 References Print Molding Fabrication Molding Department Fabrication Department FEB 10 Predetermined Overhead Rate Total Sweeten 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 as the allocation base. For questions, 9-15, assume that the company uses predetermined departmental overhead rates with machine-hours as the allocation base in both departments. < Prev per MH per MH Saved 9. What are the company's predetermined overhead rates in the Molding Department and the Fabrication Department? (Round your answers to 2 decimal places.) 9 10 Monday, March 6 2,600 1,500 4,100 S 11 1,700 1,800 3,500 *** tv Help 15 of 15 ⠀ Save & Exit Next > Check my work Submit Writing Assignment #3 (3 questions) Text page 135: #16, Chapter 4 (12 pts.) AND SOD A
Transcribed Image Text:www Foundational 15 - Chapter Two i Part 9 of 15 9 1 points eBook Mc Graw Hill 10 References Print Molding Fabrication Molding Department Fabrication Department FEB 10 Predetermined Overhead Rate Total Sweeten 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 as the allocation base. For questions, 9-15, assume that the company uses predetermined departmental overhead rates with machine-hours as the allocation base in both departments. < Prev per MH per MH Saved 9. What are the company's predetermined overhead rates in the Molding Department and the Fabrication Department? (Round your answers to 2 decimal places.) 9 10 Monday, March 6 2,600 1,500 4,100 S 11 1,700 1,800 3,500 *** tv Help 15 of 15 ⠀ Save & Exit Next > Check my work Submit Writing Assignment #3 (3 questions) Text page 135: #16, Chapter 4 (12 pts.) AND SOD A
tional 15 Chapter Two 15 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 predetermined overhead rate based on machine-hours. At the beginning of the year, it estimated that 4,000 machine-hours would be required for the period's estimated level of production. Sweeten also estimated $28,600 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.60 per machine-hour. Because Sweeten has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following additional information to enable calculating departmental overhead rates: Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Estimated total machine-hours used Estimated total fixed manufacturing overhead Molding Fabrication 2,500 1,500 $ 12,250 $ 16,350 $ 2.30 $ 3.10 Estimated variable manufacturing overhead per machine-hour The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Total Saved FER 10 < Prev 9 10 Monday, March 6 Job P $ 22,000 $ 28,200 2,600 1,500 4,100 S 11 Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year. Required: *** Job Q $ 12,500 $ 11,100 1,700 1,800 3,500 tv Help Save & Exit Submit 15 of 15 ‒‒‒ Next > Total 4,000 $ 28,600 Writing Assignment #3 (3 questions) Text page 135: #16, Chapter 4 (12 pts.) AND ONTD Check my work
Transcribed Image Text:tional 15 Chapter Two 15 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 predetermined overhead rate based on machine-hours. At the beginning of the year, it estimated that 4,000 machine-hours would be required for the period's estimated level of production. Sweeten also estimated $28,600 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.60 per machine-hour. Because Sweeten has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following additional information to enable calculating departmental overhead rates: Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Estimated total machine-hours used Estimated total fixed manufacturing overhead Molding Fabrication 2,500 1,500 $ 12,250 $ 16,350 $ 2.30 $ 3.10 Estimated variable manufacturing overhead per machine-hour The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Total Saved FER 10 < Prev 9 10 Monday, March 6 Job P $ 22,000 $ 28,200 2,600 1,500 4,100 S 11 Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year. Required: *** Job Q $ 12,500 $ 11,100 1,700 1,800 3,500 tv Help Save & Exit Submit 15 of 15 ‒‒‒ Next > Total 4,000 $ 28,600 Writing Assignment #3 (3 questions) Text page 135: #16, Chapter 4 (12 pts.) AND ONTD Check my work
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