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Delph Company uses a job-order costing system and has two manufacturing departmentsMolding 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 departmentsMolding and Fabrication. The company provided the following estimates at the beginning of the year:
Required information [The following information applies to the questions displayed below.] 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 20,000 30,000 50,000 700,000 210,000 910,000 $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 D-70: Direct materials cost 375,000 Direct labor cost Machine-hours Molding Fabrication Total 325,000 $ 700,000 $ 200,000 160,000 360,000 20,000 14,000 6,000 -200: Direct materials cost 300,000 Direct labor cost Machine-hours Molding Fabrication Total 250,000 550,000 175,000225,000 $ 400,000 30,000 6,000 24,000 Delph had no underapplied or overapplied manufacturing overhead during the year 2.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. lf 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? Required 2A Required 2B Required 2C Required 2D Compute the departmental predetermined overhead rates. Pre determined overhead rates Molding Department Fabrication Department per MH per MH Required 2A Required 28 Required 2C Required 2D Compute the total manufacturing cost assigned to Job D-70 and Job C-200 Total manufacturing cost Job D-70 Job C-200 Required 2A Required 2B Required 2C Required 2D 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? Bid price Job D-70 Job C-200 Required 2A Required 2B Required 2C Required 2D What is Delph's cost of goods sold for the year? Cost of goods soldStep by Step Solution
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