Check my wor The following information applies to the questions displayed below.
ID: 2393400 • Letter: C
Question
Check my wor 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): ta Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour 2,500 1,5004,0od $10,250 $15,150 $25,400 $1.50 $ 2.30 Job P Job Q $14,000 $8,500 $21,800 $7,900 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 1, 800900 700 1,000 2,5001,900 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For nuestinns 1.8 assume that Swepten Comnany uses a nlantwide nredetermined overhead rate Prev 1 2 3 4 of 7 Next >Explanation / Answer
2-1) Predetermined overhead rate : 25400/4000= $6.35 per Mh At departmental predetermined overhead rates, Molding=10250/2500= 4.1/MH and Fabri=15150/1500=$10.1 per Mh 2-12) If Job P includes 20 units, the unit product cost : Total cost of Job P=14000+21800+(1.50+4.10)*1800 + (2.30+10.1)*700 = 54560 Unit cost of Job P = 54560/20 = $2728 per unit 2-14) Selling price of Job P with 20 units & Job Q with 30 units Total cost of Job Q=8500+7900+(1.50+4.10)*900 + (2.30+10.1)*1000 = 33840 Total cost of Job P=14000+21800+(1.50+4.10)*1800 + (2.30+10.1)*700 = 54560 Total selling price of Job P = 54560*(1+0.80)=98208 Selling price per unit = 98208/20=4910.40 per unit Total selling price of Job Q = 33840*(1+0.80)=60912 Selling price per unit = 60912/30=2030.40 per unit 2-15) COGS for march : Job P = 54560 Job Q = 33840 Total COGS = 54560+33840 = $88400