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 the

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 Holding Machine-hours Fabrication Total 23,000 Fixed manufacturing overhead cost 32,000 55,000 $760,000 Variable manufacturing overhead cost per machine hour $ 260,000 $. 1.020,000 $ 3.00 $ 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 two jobs Job 5-70 Holding Fabrication Total Direct saterials cost $ 370.000 $ 320,000 5 690,000 Direct labor cost $ 220,000 $ 120,000 $ 340,000 Machine-hours 15,000 8,000 23,000 Sob C-200 Direct materials cost Direct labor cost Machine-hours Holding $ 300,000 $ 160,000 8,000 Fabrication $ 240,000 $ 260,000 24,000 Total $540,000 $ 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 into a plantwide predetermined overhead rate based on 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 d. What is Delph's cost of goods sold for the year? Complete the question by entering your answers in the tabs given below. Job C 2007 Required 2A Required 28 Required 20 Required 2D Assume Dolph 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 23 > 2. Assume Delph chooses to combine its departmental rates from requirement into a plantwide predetermined overhead rate based on machine hours. a Compute the plantwide predetermined overhead rate b Compute the total manufacturing cost assigned to Job D-70 and Job C-200 ci 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-2003 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 2 required 2C Required 2D Assume Delph chooses to combine its departmental rates from requirement 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 2. Assume Delph chooses to combine its departmental rates from requirement into a plantwide predetermined overhead rate based on 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-2002 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 2B Required 2c Required 20 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-2007 (Round your intermediate calculations to 2 decimal places) Bid price Job D-70 Job C-200 2. Assume Delph chooses to combine its departmental rates from requirement into a plantwide predetermined overhead rate based on 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-2002 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 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

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

Management And Cost Accounting

Authors: Mike Tayles, Colin Drury

11th Edition

147377361X, 978-1473773615

More Books

Students also viewed these Accounting questions