Required information [The following information applies to the questions display

Question

Required information [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 4,000 $14,750 $17,850 $32,600 2,500 1,500 $ 3.30 4.10 Job Q $32,000 $17,500 $36,200 $15,100 Job P Direct materials Direct labor cost Actual machine-hours used: Molding Fabrication Total 3,600 2,500 6,100 2,700 2,800 5,500 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 1. What was the company's plantwide predetermined overhead rate? (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. per MH Predetermined overhead rate

Explanation / Answer

Plantwide overhead rate :

Fixed manufacturing overhead rate = 32600/4000 = 8.15

Variable manufacturing overhead rate = (3.3+4.1) = 7.4

Plantwide overhead rate = 8.15+7.40 = 15.55 per machine hour

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