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Please answer all the questions Sweeten Company had no jobs in progress at the beginning of...

Please answer all the questions

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):

Molding Fabrication Total
Estimated total machine-hours used 2,500 1,500 4,000
Estimated total fixed manufacturing overhead $ 10,000 $ 15,000 $ 25,000
Estimated variable manufacturing overhead per machine-hour $ 1.40 $ 2.20
Job P Job Q
Direct materials $ 13,000 $ 8,000
Direct labor cost $ 21,000 $ 7,500
Actual machine-hours used:
Molding 1,700 800
Fabrication 600 900
Total 2,300 1,700

Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month.

1. How much manufacturing overhead was applied to Job P and how much was applied to Job Q? (Do not round intermediate calculations.)

2. What was the total manufacturing cost assigned to Job P? (Do not round intermediate calculations.)

3. What was the total manufacturing cost assigned to Job Q? (Do not round intermediate calculations.)

4. Assume that Sweeten Company used cost-plus pricing (and a markup percentage of 80% of total manufacturing cost) to establish selling prices for all of its jobs. What selling price would the company have established for Jobs P and Q? What are the selling prices for both jobs when stated on a per unit basis assuming 20 units were produced for Job P and 30 units were produced for Job Q? (Do not round intermediate calculations. Round your final answers to nearest whole dollar.)


Solutions

Expert Solution

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Part -1 (Machine Hours*Predetermined Overhead Rate)
Job P 2300*7.95 $       18,285
Job Q 1700*7.95 $       13,515
Part -2
Direct Materials $           13,000
Direct Labor $           21,000
Overheads $           18,285
Total Manufacturing Cost P $           52,285
Part -3
Direct Materials $             8,000
Direct Labor $             7,500
Overheads $           13,515
Total Manufacturing Cost Q $           29,015
Part -4
Job P Job Q
Total Cost $           52,285 $       29,015
Mark UP 80% $           41,828 $       23,212
Total Selling Price $           94,113 $       52,227
Units 20 30
Selling Price per unit $             4,706 $         1,741

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