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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 Job C-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 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 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? Required 1A Required 1B Required 1C Required 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.) Predetermined overhead ate per MH Required 1A Required 1B Required 1C Required 1D Assume Delph uses a plantwide predetermined overhead rate based on machine-hours. Compute the total manufacturing cost assigned to Job D-70 and Job C-200. Total manufacturing cost Job D-70 Job C-200 Required 1A Required 1B Required 1C Required 1D Assume Delph uses a plantwide predetermined overhead rate based on machine-hours. If Delph establishes bid prices that are 150% of total manufacturing cost, what bid prices would it have established forJob D-70 and Job C-200? Bid price Job D-70 Job C-200 Required 1A Required 1B Required 1C Required 1D Assume Delph uses a plantwide predetermined overhead rate based on machine-hours. What is Delph's cost of goods sold for the year? Cost of goods soldStep by Step Solution
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