90.2K

Verified Solution

Link Copied!

please help with these managerial accounting questions.

2 The Foundational 15 [LO2-1, LO2-2, LO2-3, LO2-4) 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 fall 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 Part 2 of 15 Job P $ 3,000 $ 21,000 Job $ 8,000 $ 7,500 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 1,700 600 2,300 H00 900 1,700 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month Required: For questions 1 to 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 to 15, assume that the company uses a plantwide predetermined overhead rate with machine-hours as the allocation base C 383 Nort a 8. 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? (Do not round intermediate calculations.) Job P Job Total price for the job Selling price per unit Foundational 2-9 (Static) 9. What was Sweeten Company's cost of goods sold for March? (Do not round intermediate calculations.) Cost of goods sold Foundational 2-10 (Static) 10. What was the company's plantwide predetermined overhead rate? (Round your answer to 2 decimal places.) Predetermined overhead rate per MH A

Answer & Explanation Solved by verified expert

See Answer