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total manufacturing cost assigned to Job

total manufacturing cost assigned to Job

FINANCIAL ACCOUNTING
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 Pand Q (all data and questions relate to the month of March): Molding Fabrication 1,500 $17,400 $ 3.80 Total Estimated total machine-hours used 2,500 $14,000 4,000 $31,400 Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour 3.00 Job P Job Q $16,000 $13,900 Direct materials $29,000 $33,800 Direct labor cost Actual machine-hours used: Molding 3,300 2,200 2,400 2,500 Fabrication Total 5,500 4,900 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. 4. What was the total manufacturing cost assigned to Job P? (Do not round intermediate calculations.) Total manufacturing cost
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 Pand Q (all data and questions relate to the month of March): Molding Fabrication 1,500 $17,400 $ 3.80 Total Estimated total machine-hours used 2,500 $14,000 4,000 $31,400 Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour 3.00 Job P Job Q $16,000 $13,900 Direct materials $29,000 $33,800 Direct labor cost Actual machine-hours used: Molding 3,300 2,200 2,400 2,500 Fabrication Total 5,500 4,900 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. 4. What was the total manufacturing cost assigned to Job P? (Do not round intermediate calculations.) Total manufacturing cost
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