Exercise $2-11($Algo$)$ Varying Plantwide Predetermined Overhead Rates LO$2-1,$ LO$2-2,$ LO$2-3$ Kingsport Containers Company makes a single product that is subject to wide seasonal variations in demandThe company uses a joborder costing system and computes plantwide predetermined overhead rates on a quarterly basis using the number of units to be produced as the allocation baseIts estimated costs, by quarter, for the coming year are given below First $160,000220,000500,000$ Fourth $120,00098,000$ Direct materials Direct Ranufacturing overhead Total manufacturing costs $()$ of units to be produced $($ b$)$ Estimated unit product cost $))$ Quarter SecondThird $80,00040,00030,000196,000184,000336,000254,00060,00030,000$ $$5\mathrm{.}608\mathrm{.}4790,000120,000$ Management finds the variation in quarterly unit product costs to be confusing It has been suggested that the problem lies with manufacturing overhead because it is the largest element of total manufacturing cost Accordingly you have been asked to find a more appropriate way of assigning manufacturing overhead cost to units of productRequired: Assuming the estimated vanable manufacturing overhead cost per unit is $$0\mathrm{.}40,$ what must be the estimated total fixed manufacturing overhead cost per quarter $?$ Assuming the assumptions about cost behavior from the first three quarters hold constant, what is the estimated unit product cost for the fourth quarter? What causing the estimated unit product cost to fluctuate from one quarter to the next $?$ Assuming the company computes one predetermined overhead rate for the year rather than computing quarterly overhead rates, calculate the unit product cost for all units produced during the year Complete this question by entering your answers in the tabs below Required $1$ Required $2$ Required $3$Required $4$Exercise $2-15($Algo$)$ Plantwide and Departmental Predetermined Overhead Rates; Job Costs LO$2-1,2102-3,$ LO$2-4)$ The following information applies to the questions displayed below Delph Company uses a joborder costing system and has two manufacturing departmentsMolding and FabricationThe company provided the following estimates at the beginning of the year Machine$-$hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine$-$ hour Molding $24,000740,0004\mathrm{.}00$ Fabrication $32,000300,0002\mathrm{.}0056,0001,040,000$ 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 D$-20$ Direct materials cost Direct labor cost Machine$-$hours Holding $ $370,000200,00014,000$ Fabrication $320,000240,00010,000$ Total $690,000340,00024,000-200$ Direct materials cost Direct labor cost Holding $200,000100\mathrm{.}000$ Fabrication $260,000260\mathrm{.}000460,000360,000$hours$10,00022,00032,000$ Delph had no underapplied or overapplied manufacturing overhead during the year Exercise $2-15($Algo$)$ Part $1$ Required: Assume Delph uses departmental predetermined overhead rates based on machinehours aCompute the departmental predetermined overhead rates. Compute the total manufacturing cost assigned to Job D$-70$ and Job C$-200$ Delph establishes bid prices that are $150\%$ of total manufacturing costwhat 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?