Answered step by step
Verified Expert Solution
Question
1 Approved Answer
2 Part 1 of 2 166 points [The following information applies to the questions displayed below.] Delph Company uses a job-order costing system with
2 Part 1 of 2 166 points [The following information applies to the questions displayed below.] Delph Company uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours.. At the beginning of the year, the company estimated that 57,000 machine-hours would be required for the period's estimated level of production. It also estimated $940,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.00 per machine-hour. Because Delph has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following Information to enable calculating departmental overhead rates: Machine-hours eBook Ask Fixed manufacturing overhead cost Print References Variable manufacturing overhead cost per machine-hour Molding 23,000 $720,000 $ 3.00 Fabrication 34,000 $220,000 $1.00 Total 57,000 $940,000 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: Job D-70 Direct materials cost Direct labor cost Machine-hours Molding $370,000 $ 200,000 13,000 Fabrication $ 320,000 $120,000 10,000 Job C-2001 Holding Direct materials cost $220,000 Direct labor cost $140,000 Machine-hours 10,000 Fabrication $300,000 $ 280,000 24,000 Total $690,000 $ 320,000 23,000 Total $520,000 $420,000 34,000 Delph had no underapplied or overapplied manufacturing overhead during the year. ces Required: 1. Assume Delph uses plantwide predetermined overhead rates based on machine-hours. a. Compute the plantwide predetermined overhead rate. 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 costs, what bid prices would it have established for Job D-70 and Job C-200? d. What is Delph's cost of goods sold for the year? Complete the question by entering your answers in the tabs given below. Required 1A Required 18 Required 1C Required 1D Assume Delph uses plantwide predetermined overhead rates based on machine-hours. Compute the plantwide predetermined overhead rate. (Round your answer to 2 decimal places.) Predetermined overhead rate per MH a. Compute the plantwide predetermined overhead rate. 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 costs, what bid prices would it have established for Job D-70 and Job C-200? d. What is Delph's cost of goods sold for the year? Complete the question by entering your answers in the tabs given below. Required 1A Required 18 Required 1C Required 1D Assume Delph uses plantwide predetermined overhead rates based on machine-hours. Compute the total manufacturing cost assigned to Job D-70 and Job C-200. (Round your Intermediate calculations to 2 decimal places. Round your final answers to the nearest whole dollar amount.) Job D-701 Job C-200 Total Manufacturing Cost 121 ok ht ences Required: 1. Assume Delph uses plantwide predetermined overhead rates based on machine-hours. a. Compute the plantwide predetermined overhead rate. 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 costs, what bid prices would it have established for Job D- Job C-200? d. What is Delph's cost of goods sold for the year? Complete the question by entering your answers in the tabs given below. Required 1A Required 18 Required IC Required 1D Required 1C Assume Delph uses plantwide predetermined overhead rates based on machine-hours. If Delph establishes bid prices that are 150% of total manufacturing costs, what bid prices would it have established for Job D-70 and Job C-200? (Round your Intermediate calculations to 2 decimal places. Round your final answers to the nearest whole dollar amount.) Job D-70 Job G-200 Bid Price Book Ask Print red: 1. Assume Delph uses plantwide predetermined overhead rates based on machine-hours a. Compute the plantwide predetermined overhead rate. 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 costs, what bid prices would it have established for Job D-70 and Job C-200? d. What is Delph's cost of goods sold for the year? Complete the question by entering your answers in the tabs given below. erences Required 1A Required 18 Required 1C Required 1D Assume Delph uses plantwide predetermined overhead rates based on machine-hours. What is Delph's cost of goods sold for the year? (Round your intermediate calculations to 2 decimal places. Round your final answer to the nearest whole dollar amount.) Cost of goods sold
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started