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Question - 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
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:
1,700
800
600
900
2,300
Sweeten Company had no under-applied or over-applied manufacturing overhead costs during the month.
Required -
1. 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?
2. What was Sweeten Company's cost of goods sold for March?
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