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Delph Company uses a job-order costing system and has two manufacturing departments-Molding and Fabrication. The company provided the following estimates at the beginning of
Delph Company uses a job-order costing system and has two manufacturing departments-Molding and Fabrication. The company provided the following estimates at the beginning of the year: Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Molding 23,000 $ 720,000 $ 5.00 Fabrication 32,000 $ 240,000 $ 1.50 Total 55,000 $ 950,000 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 Machine-hours Direct labor cost Job C-200 Direct materials cost Direct labor cost Machine-hours Molding $ 370,000 $220,000 Fabrication $ 320,000 $ 160,000 9,000 14,000 Fabrication Molding $220,000 $220,000 $ 140,000 9,000 $ 280,000 23,000 Total $ 690,000 $380,000 23,000 Total $440,000 $420,000 32,000 Delph had no underapplied or overapplied manufacturing overhead during the year. 2. Assume Delph chooses to combine its departmental rates from requirement 1 into a plantwide predetermined overhead rate based oo 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 2A Required 28 Required 2C Required 2D Assume Delph chooses to combine its departmental rates from requirement 1 into a plantwide predetermined overhead rate based on machine-hours. Compute the plantwide predetermined overhead rate. (Round your answer to 2 decimal places.) Predetermined overhead rate per MH Required 2A Required 28 Required 2C Required 2D Assume Delph chooses to combine its departmental rates from requirement 1 into a plantwide predetermined overhead rate 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.) Total manufacturing cost Job D-70 Job C-200 Required 2A Required 2B Required 2C Required 2D Assume Delph chooses to combine its departmental rates from requirement 1 into a plantwide predetermined overhead rate 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.) Job D-70 Job C-200 Bid price Required 2A Required 2B Required 2C Required 2D Assume Delph chooses to combine its departmental rates from requirement 1 into a plantwide predetermined overhead rate based on machine-hours. What is Delph's cost of goods sold for the year? (Round your intermediate calculations to 2 decimal places.) Cost of goods sold < Required 2C Required 20
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