dit s from t.htmi?sessionid-2767468315375628067643c7a013508ca4e2d83181c1769c00b8

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dit s from t.htmi?sessionid-2767468315375628067643c7a013508ca4e2d83181c1769c00b8a&email abo.... Help Save & Exit Submit hapter 2 6 Check my work 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) 2,500 $10,000 $15,000 $25,000 $ 1.40 2.20 1,500 4,000 Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Job PlJob Q $13,000 $8,000 $21,000$7,500 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 1,700800 900 2,3001,700 600 Sweeten 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 as the allocation base. For questions 9-15, assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments. 1. What was the company's plantwide predetermined overhead rate? (Round your answer to 2 decimal places.)

Explanation / Answer

Molding Fabrication Total Estimated machine hr. 2500 1500 4000 Estimated total fixed manufacturing overhead 10000 15000 25000 Estimated variable manufacturing overhead per machine hr. $             1.4 $                 2.2 job P Job Q Direct material 13000 8000 Direct labor cost 21000 4500 Actuals machine-hour used Molding 1700 800 Fabrication 600 900 Answer 1 ) Plant wide overhead rate = Total manufacturing overhead / Total machine hr. estimated =25000/4000 6.25 per hr. Answer 2) Computation of manufacturing OH applied to job P and Q Job P Job Q Actuals machine-hour used i Molding             1,700                    800 ii Fabrication                600                    900 iii=i+ii Total             2,300                 1,700 iv OH rate / Hr. $           6.25 $              6.25 v=iv*iii Manufacturing OH applied $ 14,375.00 $     10,625.00 Answer 3) Computation of manufacturing cost assigned to job P Job P i Direct material $ 13,000.00 ii Direct labor cost $ 21,000.00 iii=i+ii Manufacturing OH applied $ 14,375.00 Total cost $ 48,375.00 Answer 4) Computation of unit product cost of job P Job P i Total cost $ 48,375.00 ii Unit produced 20 iii=i/ii Per unit cost $         2,419 Answer 5) Computation of manufacturing cost assigned to job Q Job Q i Direct material $   8,000.00 ii Direct labor cost $   4,500.00 iii=i+ii Manufacturing OH applied $ 10,625.00 Total cost $ 23,125.00 Answer 6) Computation of unit product cost of job Q Job Q i Total cost $ 23,125.00 ii Unit produced 30 iii=i/ii Per unit cost $            771 Answer 8) Cost of goods sold i Total cost of job P 48375 ii Total cost of job Q 23125 iii=i+ii Cost of goods sold 71500

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