Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1 00 tass Delph Company uses a job-order costing system and has two manufacturing departments-Molding and Fabrication. The company provided the following estimates at the

image text in transcribed
1 00 tass Delph Company uses a job-order costing system and has two manufacturing departments-Molding and Fabrication. The company provided the following estimates at the beginning of the year Holding Tabrication Total Meteo 24,000 30,000 54,000 Fixed in overhead coat 720,000 $ 200,000 5 1,000,000 Variable manufacturing overhead cost per machine-hour 54.00 During the year, the company had no beginning or ending inventories and it started, completed, and sold only two jobs- Job D-70 and Job C-200. It provided the following information related to those two jobs ob D-70 Molding Tabrication Total Direct merialu on $ 370,000 120,000 5 690,000 Direct labor cont 220,000 $ 140,000 $360,000 Macho-hours 15,000 24,000 Job C-200 Molding Fabrication Total Diret stere cost 220,000 $ 300,000 5520,000 Direct labor con $100,000 $ 280,000 $ 380,000 Machine-hour 9,000 21,000 30,000 Delph had no underapplied or overapplied manufacturing overhead during the year. 9.000 Required: 1 Assume Delph uses departmental predetermined overhead rates based on machine-hours. a Compute the departmental predetermined overhead rates. b. Compute the total manufacturing cost assigned to Job D-70 and Job C-200 c. If Delph establishes bid prices that are 150% of total manufacturing cost, what bid prices would it have established for Job D-70 and Job C-2007 d. What is Delph's cost of goods sold for the year

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting A Critical Approach

Authors: John Friedlan

3rd Edition

0070967601, 978-0070967601

More Books

Students also viewed these Accounting questions