[The following information applies to the questions displayed below.] Sweeten Co

Question

[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. It started only two Jobs during March Job P and Job Q. Job P was completed and sold by the end of the March and Job Q was Incomplete at the end of the March. The company uses a plantwide predetermined overhead rate based on direct labor-hours. The following additional Information is avallable for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Estimated total fixed manufacturing overhead Estimated varlable manufacturing overhead per direct labor-hour Estlmated total direct labor-hours to be worked Total actual manufacturing overhead costs Incurred $14,500 $ 1.90 2,900 $18,000 Direct materials Direct labor cost Actual direct labor-hours worked Job P Job Q $ 18,500 $ 8,900 $ 40,000 $10,000 2,000 000 500 X)

Explanation / Answer

1./

DIRECT MATERIAL USED IN JOB P = $18500

DIRECT MATERIAL USED IN JOB Q = $8900

ENDING INVENTORY = $1900

TOTAL MATERIAL PURCHASED = $29300

JOURNAL ENTRY

RAW MATERIAL INVENTORY A/C.................DR $29300

   TO CASH A/C $29300

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2./

WORK IN PROCESS JOB P A/C....................................DR $18500

WORK IN PROCESS JOB P A/C....................................DR $8900

   TO RAW MATERIAL INVENTORY A/C $27400

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