The Foundational 15 [LO2-1, LO2-2, LO2-3, LO2-4]

[The following information applies to the questionsdisplayed below.]

Sweeten Company had no jobs in progress at the beginning ofMarch and no beginning inventories. The company has twomanufacturing departments—Molding and Fabrication. It started,completed, and sold only two jobs during March—Job P and Job Q. Thefollowing additional information is available for the company as awhole and for Jobs P and Q (all data and questions relate to themonth 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 manufacturingoverhead costs during the month.

Required:

For questions 1-8, assume that Sweeten Company uses a plantwidepredetermined overhead rate with machine-hours as the allocationbase. For questions 9-15, assume that the company uses departmentalpredetermined overhead rates with machine-hours as the allocationbase in both departments.

1. What was the company’s plantwide predetermined overhead rate?(Round your answer to 2 decimal places.)

Predetermined Overhead Rate

_______ per MH

2. How much manufacturing overhead was applied to Job P and howmuch was applied to Job Q? (Do not round intermediatecalculations.)

	Job P	Job Q
Manufacturing Overhead Applied	______	______

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

Total Manufacturing Cost

__________

4. If Job P included 20 units, what was its unit product cost?(Do not round intermediatecalculations. Round your final answer to nearestwhole dollar.)

Unit Product Cost

_________

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

Total Manufacturing Cost

_____________

6. If Job Q included 30 units, what was its unit product cost?(Do not round intermediatecalculations. Round your final answer to nearestwhole dollar.)

Unit Product Cost

_________

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

	Job P	Job Q
Total Price for the Job	______	______
Selling Price per Unit	______	______

8. What was Sweeten Company’s cost of goods sold for March?(Do not round intermediate calculations.)

Cost of Goods Sold

__________