Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
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 Molding Fabrication Total 23,000 Fixed manufacturing overhead cost 32,800 55,000 $ 260,000 Variable manufacturing overhead cost per machine-hour $ 260,000 $1,020,000 $ 3.00 5.1.00 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 twojobs Job - Holding Fabrication Total Direct materials cost $ 370,000 $ 320,000 $ 690,000 Direct labor cost $ 220,000 $ 120,000 $340,000 Machine-hours 15,000 8,000 23,000 Job C-200 Direct materials cost Direct labor cost Machine-hours Molding $ 300,000 $ 160,000 8,00 Fabrication $ 240,000 $ 260,000 24,000 Total $ 540,000 $ 420,00 32,00 Delph had no underapplied or overapplied manufacturing overhead during the year Required 1A Required 1B Required 10 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.). Predetermined overhead rates Molding Department $ 36,04 per MH Fabrication Department 5 9.13 per MH Required 18 > Required 1A Required 1B Required 1C Required 10 Assume Delph uses departmental predetermined overhead rates 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. Round your final answers to nearest whole dollar amount.) Total manufacturing COS Job D-70 Job C-200 Required LA Required 1B Required 1C Required ID Assume Delph uses departmental predetermined overhead rates based on machine hours. If Delph established bid prices that are 150% of total manufacturing cost, what bid prices would it have established for Job D-70 and Job C 2007 (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 Required 1A Required 1B Required 1c Required 10 Assume Delph uses departmental predetermined overhead rates based on machine-hours. 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 famount Cost of goods sold

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_2

Step: 3

blur-text-image_3

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

Sustainability Performance And Reporting

Authors: Irene M. Herremans

1st Edition

1951527208, 9781951527204

More Books

Students also viewed these Accounting questions