3.

Smithson 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:

	Molding		Fabrication		Total
Machine-hours		31,000		41,000		72,000
Fixed manufacturing overhead costs	$	740,000	$	230,000	$	970,000
Variable manufacturing overhead per machine-hour	$	5.00	$	5.00

During the year, the company had no beginning or ending inventories and it started, completed, and sold only two jobsJob D-75 and Job C-100. It provided the following information related to those two jobs:

Job D-75:	Molding		Fabrication		Total
Direct materials cost	$	379,000	$	321,000	$	700,000
Direct labor cost	$	200,000	$	170,000	$	370,000
Machine-hours		23,000		8,000		31,000

Job C-100:	Molding		Fabrication		Total
Direct materials cost	$	230,000	$	290,000	$	520,000
Direct labor cost	$	160,000	$	240,000	$	400,000
Machine-hours		8,000		33,000		41,000

Smithson had no overapplied or underapplied manufacturing overhead during the year.

valu: 10.00 points

Required ineformation

Assume Smithson uses a plantwide overhead rate based on machine-hours.

Required:

1-a. Compute the predetermined plantwide overhead rate. (Round your answer to 2 decimal places.)

1-b. Compute the total manufacturing costs assigned to Job D-75 and Job C-100. (Round your intermediate calculations to 2 decimal places.)

1-c. If Smithson establishes bid prices that are 120% of total manufacturing costs, what bid price would it have established for Job D-75 and Job C-100? (Round your intermediate calculations to 2 decimal places.)

1-d. What is Smithsons cost of goods sold for the year? (Round your intermediate calculations to 2 decimal places.)