Question

Company had no jobs in progress at the beginning of March and no beginning inventories. The...

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 $ 14,250 $ 17,550 $ 31,800
Estimated variable manufacturing overhead per machine-hour $ 3.10 $ 3.90
Job P Job Q
Direct materials $ 30,000 $ 16,500
Direct labor cost $ 34,600 $ 14,300
Actual machine-hours used:
Molding 3,400 2,500
Fabrication 2,300 2,600
Total 5,700 5,100

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.

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

9. What were the company’s predetermined overhead rates in the Molding Department and the Fabrication Department? (Round your answers to 2 decimal places.)

10. How much manufacturing overhead was applied from the Molding Department to Job P and how much was applied to Job Q? (Do not round intermediate calculations.)

Homework Answers

Answer #1
Estimated variable manufacturing overhead 13600 =(2500*3.1)+(1500*3.9)
Estimated total fixed manufacturing overhead 31800
Estimated total manufacturing overhead 45400
Divide by Estimated total machine-hours used 4000
Plantwide predetermined overhead rate 11.35 per MH
Job P Job Q
Direct materials 30000 16500
Direct labor cost 34600 14300
Manufacturing overhead applied 64695 57885
Total manufacturing cost 129295 88685
8
Cost of goods sold for March 217980 =129295+88685
9
Predetermined overhead rates :
Molding Department 8.80 =3.10+(14250/2500)
Fabrication Department 15.60 =3.90+(17550/1500)
10
Manufacturing overhead applied:
Job P 29920 =3400*8.80
Job Q 22000 =2500*8.80
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