Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1a. Compute the plantwide predetermined overhead rate. 1b. Compute the total manufacturing cost assigned to Job D-70 and Job C-200. 1c. If Delph establishes bid

image text in transcribed

1a. Compute the plantwide predetermined overhead rate.

1b. Compute the total manufacturing cost assigned to Job D-70 and Job C-200.

1c. 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-200?

1d. What is Delphs cost of goods sold for the year?

Please type out step-by-step instructions. I have worked on this problem and keep getting the wrong answers. Thank you

Delph Company uses a job-order costing system and has two manufacturing departmentsMolding and Fabrication. The company provided the following estimates at the beginning of the year: Machine-hours Fixed manufacturing overhead costs Variable manufacturing overhead cost per machine-hour Molding Fabrication Total 22,000 34,000 56,000 $ 780,000 $ 220,000 $1,000,000 $ 3.00 $ 1.00 During the year, the company had no beginning or ending inventories and it started, completed, and sold only twojobs- Job D-70 and Job C-200. It provided the following information related to those two jobs: Job D-70: Direct materials cost Direct labor cost Machine-hours Molding Fabrication Total $ 370,000 $ 320,000 $ 690,000 $ 200,000 $ 180,000 $ 380,000 14,000 8,000 22,000 Job C-200: Direct materials cost Direct labor cost Machine-hours Molding Fabrication Total $ 280,000 $ 220,000 $ 500,000 $ 160,000 $ 260,000 $ 420,000 8,000 26,000 34,000 Delph had no underapplied or overapplied manufacturing overhead during 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 And Managerial Accounting For MBAs

Authors: Peter D. Easton

6th Edition

1618533592, 9781618533593

More Books

Students also viewed these Accounting questions

Question

=+What do you think about the CDFI Fund, establish in 1994?

Answered: 1 week ago