Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Could I have help with this problem, please? Delph Company uses a job-order costing system and has two manufacturing departmentsMolding and Fabrication. The company provided

Could I have help with this problem, please?

image text in transcribed
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: Molding Fabrication Total Machine-hours 20,000 30,000 50,000 Fixed manufacturing overhead costs $ 700,000 $ 210,000 $ 910,000 Variable manufacturing overhead cost per machine-hour $ 3 . 0 0 $ 1 . 0 0 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-ZOO. It provided the following information related to those two jobs: Job D-TO: Molding Fabrication Total Direct materials cost $ 375,000 $ 325,000 $ 700,000 Direct labor cost $ 200,000 $ 160,000 $ 360,000 Machinehours 14,000 6,000 20,000 [ Job 0-200: Molding Fabrication Total Direct materials cost $ 300,000 $ 250,000 S 550,000 Direct labor cost $ 175,000 $ 225,000 $ 400,000 Machine-hours 6,000 24,000 30,000 [ Delph had no underapplied or overapplied manufacturing overhead during the year. 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 D70 and Job 0200. c. If Delph establishes bid prices that are 150% oftotal manufacturing costs, what bid prices would it have established for Job 0-70 and Job 0200? d. What is Delph's cost of goods sold for 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

Accounting For Value

Authors: Stephen Penman, S Penman

1st Edition

0231151187, 9780231151184

More Books

Students also viewed these Accounting questions