Question

Return to ques f 15 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): Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Molding Fabrication Total 2,500 1,500 4,000 $11,500 $15,900 $27,400 $ 2.00 $ 2.80 Job P $19,000 $25,800 Job Q $11,000 $ 9,900 Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 2,300 1,200 3,500 1,400 1,500 2,900 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month.

Answer 1

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Cost of goods sold is $124,500

F2/ B с D E F G 2 3 4 Molding 2500 11500 5 5 Machine hours Fixed overhead Fixed overhead rate per machine hour Variable overhead rate Total Fabricatio Total 1500 4000 15900 27400 6.85 2.8 9.65 Per Mhr 6 6.85 7 2 8 8.85 Per Mhr 9 10 11 12 Particulars Direct material Direct labor Molding overhead Fabrication overhead Total manufacturing cost Job P Job Q 19000 11000 25800 9900 20355 12390 11580 14475 76735 47765 13 14 15 16 17 Cost of goods sold 124500 18 19 20

For calculation ref:

B D E F G 2 3 4 5 5 Molding Machine hours 2500 Fixed overhead 11500 Fixed overhead rate per machine hour =G5/G4 Variable overhead rate 2 Total |=D7+D6 Fabrication Total 1500 =SUM(D4:F4) 15900 =SUM(D5:F5) =G5/G4 2.8 =F7+F6 Per Mhr 6 7 8 Per Mhr 9 10 11 12 Particulars Direct material Direct labor Molding overhead Fabrication overhead Total manufacturing cost Job P Job Q 19000 11000 25800 9900 =2300*D8 =1400*D8 =1200*F8 =1500*F8 =SUM(D11:014) =SUM(E11:E14) 13 14 15 16 17 Cost of goods sold =D15+E15 18 19 20 21