6 Part 1 of 2 points Skipped Required information [The following information applies to the questions...

Transcribed Image Text:

6 Part 1 of 2 points Skipped Required information [The following information applies to the questions displayed below.] Delph Company uses job-order costing with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that 53,000 machine-hours would be required for the period's estimated level of production. It also estimated $1,040,000 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: eBook Print Reference Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Molding 21,000 $780,000 Fabrication 32,000 $260,000 $ 3.00 $ 2.00 Total 53,000 $1,040,000 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 Total $690,000 $380,000 Holding $ 370,000 Direct labor cost Machine-hours ob C-200 Direct materials cost $ 240,000 14,000 Molding $220,000 Fabrication: $ 320,000 $140,000 7,000 21,000 Fabrication Direct labor cost $ 160,000 $ 200,000 $220,000 Total $420,000 $380,000 Machine-hours 7,000 25,000 32,000 Delph had no underapplied or overapplied manufacturing overhead during the year. 6/1 Required 10 points Skipped eBook 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 this question by entering your answers in the tabs given below. Print Required 1A Required 18 Required 1C Required 10 References Assume Delph uses plantwide predetermined overhead rates based on machine-hours. Compute the plantwide predetermined overhead rate. Note: Round your answer to 2 decimal places. Predetermined overhead rate per MH Required TA Required 1B > 6/2 6 Part 1 of 2 points Skipped Required information [The following information applies to the questions displayed below.] Delph Company uses job-order costing with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that 53,000 machine-hours would be required for the period's estimated level of production. It also estimated $1,040,000 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: eBook Print Reference Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Molding 21,000 $780,000 Fabrication 32,000 $260,000 $ 3.00 $ 2.00 Total 53,000 $1,040,000 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 Total $690,000 $380,000 Holding $ 370,000 Direct labor cost Machine-hours ob C-200 Direct materials cost $ 240,000 14,000 Molding $220,000 Fabrication: $ 320,000 $140,000 7,000 21,000 Fabrication Direct labor cost $ 160,000 $ 200,000 $220,000 Total $420,000 $380,000 Machine-hours 7,000 25,000 32,000 Delph had no underapplied or overapplied manufacturing overhead during the year. 6/1 Required 10 points Skipped eBook 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 this question by entering your answers in the tabs given below. Print Required 1A Required 18 Required 1C Required 10 References Assume Delph uses plantwide predetermined overhead rates based on machine-hours. Compute the plantwide predetermined overhead rate. Note: Round your answer to 2 decimal places. Predetermined overhead rate per MH Required TA Required 1B > 6/2