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 transcribedimage 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 39,000 290,000 s1000,000 68,000 Machine-hours Fixed manufacturing overhead costs Variable manufacturing overhead per machine-hour 29,000 $710,000 $ $ 5.80 $ 5.80 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 372,000 326,000 $698,000 $ 250,000 $ 140,000 $ 390,000 6,000 29,000 23,000 Job C-200: Direct materials cost Direct labor cost Machine-hours Molding Fabrication Total 260,000 300,000 $560,000 $ 170,000 270,000 $ 440,000 6,000 33,000 39,000 Delph had no overapplied or underapplied manufacturing overhead during the year. value: 20.00 points Assume Delph uses a plantwide overhead rate based on machine-hours. Required 1-a. Compute the predetermined plantwide overhead rate. (Round your answer to 2 decimal places.) etermined overhea per MH b. Compute the total manufacturing costs 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 C. If Delph establishes bid prices that are 130% of total manufacturing costs, what bid price would it have established for Job D-70 and Job C-200? (Round your intermediate calculations to 2 decimal places.) Bid price Job D-70 Job C-200 d. 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

Modern Auditing

Authors: Walter Gerry Kell, William C. Boynton, Richard E. Ziegler

5th Edition

0471542830, 9780471542834

More Books

Students also viewed these Accounting questions

Question

Verify the statement made in the remark following Example 10.2.

Answered: 1 week ago