Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

6 Required information Part 2 of 2 Exercise 2-15 Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO2-1, LO2-2, LO2-3, LO2-4) [The following information apples

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

6 Required information Part 2 of 2 Exercise 2-15 Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO2-1, LO2-2, LO2-3, LO2-4) [The following information apples to the questions displayed below.) 5 points 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: Skipped Machine-hours Fixed manufacturing overhead costs Variable manufacturing overhead cost per machine-hour Molding 22,00 $ 780,000 $ 4.00 Fabrication 30,000 $ 260,000 $ 2.00 Total 52, eee $1,040,000 eBook 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: Print Job D-7e: Direct materials cost Direct labor cost Machine-hours Molding Fabrication Total $ 370,000 $ 320,000 $ 690,000 $ 220,000 $ 180,000 $ 400,000 16,000 6,000 22,eee Job C-200: Direct materials cost Direct labor cost Machine-hours Molding Fabrication Total $ 300,000 $ 240,000 $ 540,000 $ 100,000 $ 300,000 $ 400,000 6,000 24,000 30, eee Delph had no underapplied or overapplied manufacturing overhead during the year. Exercise 2-15 Part 2 2. 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 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. Req 2A Req 2B Req 20 Req 2D Compute the departmental predetermined overhead rates. (Round the final answers to 2 decimal places.) Pre determined overhead rates per MH Molding Department Fabrication Department per MH Req 2A Req 2B Req 20 Req 2D 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 nearest whole dollar amount.) Total manufacturing cost Job D-70 Job C-200 Reg 2A Reg 2B Req 2c Reg 2D 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 nearest whole dollar amount.) Bid price Job D-70 Job C-200 Req 2A Req 2B Req 2c Req 2D What is Delph's cost of goods sold for the year? (Round your intermediate calculations to 2 decimal places. Round your final answer to nearest whole dollar amount.) Cost of goods sold

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516

Students also viewed these Accounting questions

Question

Discuss how investment advisors can help their behavioral clients.

Answered: 1 week ago