1.What was the company’s plantwide predetermined overhead rate? 2.How much manufacturing overhead was applied to Job P and how much was applied to Job Q? 3.What was the total manufacturing cost assigned to Job P? 4. If Job P included 20 units, what was its unit product cost? 5.What was the total manufacturing cost assigned to Job Q? 6. If Job Q included 30 units, what was its unit product cost? 7. 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? 8. What was Sweeten Company’s cost of goods sold for March? 9. What were the company’s predetermined overhead rates in the Molding Department and the Fabrication Department? 10. How much manufacturing overhead was applied from the Molding Department to Job P and how much was applied to Job Q? 11. How much manufacturing overhead was applied from the Fabrication Department to Job P and how much was applied to Job Q? 12. If Job P included 20 units, what was its unit product cost? 13. If Job Q included 30 units, what was its unit product cost? 14. 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? 15. What was Sweeten Company’s cost of goods sold for March? (please if you can answer anything that would help)
Process Costing
Process costing is a sort of operation costing which is employed to determine the value of a product at each process or stage of producing process, applicable where goods produced from a series of continuous operations or procedure.
Job Costing
Job costing is adhesive costs of each and every job involved in the production processes. It is an accounting measure. It is a method which determines the cost of specific jobs, which are performed according to the consumer’s specifications. Job costing is possible only in businesses where the production is done as per the customer’s requirement. For example, some customers order to manufacture furniture as per their needs.
ABC Costing
Cost Accounting is a form of managerial accounting that helps the company in assessing the total variable cost so as to compute the cost of production. Cost accounting is generally used by the management so as to ensure better decision-making. In comparison to financial accounting, cost accounting has to follow a set standard ad can be used flexibly by the management as per their needs. The types of Cost Accounting include – Lean Accounting, Standard Costing, Marginal Costing and Activity Based Costing.
1.What was the company’s plantwide predetermined overhead rate?
2.How much manufacturing overhead was applied to Job P and how much was applied to Job Q?
3.What was the total
4. If Job P included 20 units, what was its unit product cost?
5.What was the total manufacturing cost assigned to Job Q?
6. If Job Q included 30 units, what was its unit product cost?
7. 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?
8. What was Sweeten Company’s cost of goods sold for March?
9. What were the company’s predetermined overhead rates in the Molding Department and the Fabrication Department?
10. How much manufacturing overhead was applied from the Molding Department to Job P and how much was applied to Job Q?
11. How much manufacturing overhead was applied from the Fabrication Department to Job P and how much was applied to Job Q?
12. If Job P included 20 units, what was its unit product cost?
13. If Job Q included 30 units, what was its unit product cost?
14. 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?
15. What was Sweeten Company’s cost of goods sold for March?
(please if you can answer anything that would help)
![Required information
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 P and Q (all
data and questions relate to the month of March):
Molding Fabrication
2,500
$12,250
$
Total
Estimated total machine-hours used
Estimated total fixed manufacturing overhead
Estimated variable manufacturing overhead per machine-hour
1,500
$16,350
$
4,000
$28,600
2.30
3.10
Job P
Job Q
$22,000
$28,200
$12,500
$11,100
Direct materials
Direct labor cost
Actual machine-hours used:
Molding
2,600
1,700
1,800
3,500
Fabrication
1,500
4,100
Total
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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1fb7e9e2-8e77-42f0-9eef-831bba05dc01%2F81885410-707a-4ff7-9848-4d2e0528dfc6%2Futli3u_processed.png&w=3840&q=75)
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