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
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: 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: Delph had no underapplled 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? 2. Assume Delph chooses to combine its departmental rates from requirement 1 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-200? d. What is Delph's cost of goods sold for the year

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

Financial Accounting Theory And Analysis Text Readings And Cases

Authors: Richard G. Schroeder, Myrtle W. Clark, Jack M. Cathey

8th Edition

0471652431, 9780471652434

More Books

Students also viewed these Accounting questions

Question

What do their students end up doing when they graduate?

Answered: 1 week ago