Answered step by step
Verified Expert Solution
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
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: Molding Fabrication Total Machine-hours Fixed manufacturing overhead costs Variable manufacturing overhead cost per machine-hour 68,000 740,000 220,000 960,000 29,000 39,000 $ 5.70 $5.70 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 Molding Fabrication Total 371,000 329,000 $ 700,000 210,000 130,000 340,000 20,000 9,000 29,000 Job c-200: Direct materials cost Direct labor cost Machine-hours Molding Fabrication Total 300,000 $260,000 $560,000 $ 140,000 250,000 390,000 9,000 30,000 39,000 Delph had no underapplied or overapplied manufacturing overhead during the year. Required 1. Assume Delph uses 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 130% of total manufacturing cost, what bid prices would it have established for Job D-70 a 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 Req 1A Req 1B Req 1C Req 1D Assume Delph uses a plantwide predetermined overhead rate based on machine-hours. Compute the plantwide predetermined overhead rate. (Round your answer to 2 decimal places.) rate per MH
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started