Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

eck my work Costs (LO3-1, LO3-2, LO3-3, LO3-4] [The following information applies to the questions displayed below.) Delph Company uses a job-order costing system and

image text in transcribed
eck my work Costs (LO3-1, LO3-2, LO3-3, LO3-4] [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 Machine-hours 31,000 41,000 72,000 Fixed manufacturing overhead costs $760,000 $ 280,000 $1,040,000 Variable manufacturing overhead cost per machine-hour $ 5.60 5.60 Total $ 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 $ 380,000 $325,000 $ 705,000 $ 200,000 $ 120,000 $320,000 21,000 10,000 31,000 Job C-2001 Direct materials cost Direct labor cost Machine-hours Molding Fabrication Total $ 250,000 $ 290,000 $540,000 $ 180,000 $ 280,000 $ 460,000 10,000 31,000 41,000 Delph had no underapplied or overapplied manufacturing overhead during the year. Exercise 3-15 (Algo) Part 1 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 140% 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

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

Nmap 6 Network Exploration And Security Auditing Cookbook

Authors: Calderon Pale Paulino

1st Edition

1849517487, 978-1849517485

More Books

Students also viewed these Accounting questions

Question

5. Have you stressed the topics relevance to your audience?

Answered: 1 week ago