[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

Job p Job q fixed man overheads 14500 variable man overheads 1.9 direct labor hours 2900 Total actual man oveheads incurred 18000 Job p Job q Direct Material 18500 8900 Direct Labor 40000 10000 Actual direct labor hours worked 2000 500 estimated fixed overhead 14500 Estimated variable overhead 4750 (1.9*2500) Total estimated ovehead 19250 Actual ovehead 18000 Over applied overhead 1250

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