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
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 23,000 33,000 56,000 Fixed manufacturing overhead cost $760,000 $ 280,000 $1,040,000 Variable manufacturing overhead cost per machine-hour $ 5.00 $ 2.ee 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 Molding Fabrication Total Direct materials cost $370,000 $ 320,000 $690,000 Direct labor cost $220,000 $ 160,000 $380,000 Machine-hours 17.00 6,000 23,000 Job C-200 Direct materials cost Direct labor cost Machine-hours Molding Fabrication. Total $280,000 $ 240,000 $520,000 $180,000 $ 280,000 $460,000 6,000 27,800 33,000 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.lt 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

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

Auditing A Practical Approach

Authors: Robyn Moroney

1st Canadian Edition

978-1118472972, 1118472977, 978-1742165943

More Books

Students also viewed these Accounting questions