Delph Company uses a job-order costing system and has two manufacturing departments-Molding and Fabrication. The company...
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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 the year: Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Molding 22,000 $ 720,000 $ 3.00 Fabrication Total 34,000 $ 220,000 56,000 $940,000 $ 2.00 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 Direct labor cost Machine-hours Job C-200 Direct materials cost Direct labor cost Machine-hours Molding $ 370,000 $ 220,000 14,000 Fabrication $ 320,000 $ 140,000 Total $ 690,000 8,000 Molding $ 300,000 $ 160,000 8,000 Fabrication $ 220,000 $ 240,000 26,000 $ 360,000 22,000 Total $520,000 $ 400,000 34,000 Delph had no underapplied or overapplied manufacturing overhead during the year. 1. 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 cost, 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 1A Required 1B Required 1C Required 1D Assume Delph uses departmental predetermined overhead rates based on machine-hours. Compute the departmental predetermined overhead rates. (Round the final answers to 2 decimal places.) Molding Department Predetermined overhead rates per MH Fabrication Department per MH KRequired 1A Required 1B > 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 22,000 $ 720,000 $ 3.00 Fabrication Total 34,000 $ 220,000 56,000 $940,000 $ 2.00 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 Direct labor cost Machine-hours Job C-200 Direct materials cost Direct labor cost Machine-hours Molding $ 370,000 $ 220,000 14,000 Fabrication $ 320,000 $ 140,000 Total $ 690,000 8,000 Molding $ 300,000 $ 160,000 8,000 Fabrication $ 220,000 $ 240,000 26,000 $ 360,000 22,000 Total $520,000 $ 400,000 34,000 Delph had no underapplied or overapplied manufacturing overhead during the year. 1. 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 cost, 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 1A Required 1B Required 1C Required 1D Assume Delph uses departmental predetermined overhead rates based on machine-hours. Compute the departmental predetermined overhead rates. (Round the final answers to 2 decimal places.) Molding Department Predetermined overhead rates per MH Fabrication Department per MH KRequired 1A Required 1B >
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