Sweeten Company had no jobs in progress at the beginning of March and no beginni
ID: 3205860 • Letter: S
Question
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March—Job P and Job Q. Job P was completed and sold by the end of the March and Job Q was incomplete at the end of the March. The company uses a plantwide predetermined overhead rate based on direct labor-hours. 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 fixed manufacturing overhead $ 11,000
Estimated variable manufacturing overhead per direct labor-hour $ 1.20
Estimated total direct labor-hours to be worked 2,200
Total actual manufacturing overhead costs incurred $ 12,700
Job P Job Q
Direct materials $ 13,200 $ 8,200
Direct labor cost $ 16,900 $ 7,800
Actual direct labor-hours worked 1,300 600
2.
How much manufacturing overhead was applied to Job P and Job Q? (Round your intermediate calculations to 2 decimal places.)
4-a.
If Job P includes 24 units, what is its unit product cost?
What is the total amount of manufacturing cost assigned to Job Q as of the end of March (including applied overhead)?
Assume the ending raw materials inventory is $1,200 and the company does not use any indirect materials. Prepare the journal entries to record raw materials purchases and the issuance of direct materials for use in production. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Assume that the company does not use any indirect labor. Prepare the journal entry to record the direct labor costs added to production. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
7.
Prepare the journal entry to apply manufacturing overhead costs to production. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
8.
Assume the ending raw materials inventory is $1,200 and the company does not use any indirect materials. Prepare a schedule of cost of goods manufactured.
Prepare the journal entry to transfer costs from Work in Process to Finished Goods. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
1. What is the company’s predetermined overhead rate? (Round your answers to 2 decimal places.)
Explanation / Answer
Estimated total fixed manufacturing overhead= $ 11,000
Estimated variable manufacturing overhead per direct labor-hour= $ 1.20
Estimated total direct labor-hours to be worked = 2,200
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1) Estimated overhead rate = Fixed overhead + Variable overhead
= 11000+(1.20)X(2200)
=$13640
Overhead rate = Total overhead costs / Direct labour hours
= 13640/2200
=6.20
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2)Manufacturing OH applied to Job P ,Q= (Predetermined OH rate X Actual direct labor-hours worked)
Job P = 6.20 X 1300
= 8060
Job Q = 6.20 X 600
= 3720
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3)
Direct Labor hourly wage rate = (Direct labor cost / Actual direct labor-hours worked)
Job P = 16900 / 1300
= $13
Job Q = 7800 / 600
= $13
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4)Calculate the unit product cost:
Direct Materials --- 13,200
Direct Labor --- 16,900
Overheads --- (6.20 X 1300) = 8060
Total Cost = 13200+16900+8060=
Number of units = 24
Cost per unit = 1590
I have answeres 4 sub parts kindly ask the rest of the question again
Actuals Job P Job Q Direct Materials $13200 $8200 Direct Labour Costs $16900 $7800 Actual direct labour hours 1300 600Related Questions
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