{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-26T02:13:54-04:00", "answer_date": "2024-05-26 02:13:54", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1720336", "url": "\/study-help\/questions\/exercise-215-algo-plantwide-and-departmental-predetermined-overhead-rates-job-1720336", "question_creation_date_js": "2024-05-26T02:13:54-04:00", "question_creation_date": "May 26, 2024 02:13 AM", "meta_title": "[Solved] Exercise 2-15 (Algo) Plantwide and Depart | SolutionInn", "meta_description": "Answer of - Exercise 2-15 (Algo) Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO2-1, LO2- 2, LO2-3, LO2-4] | SolutionInn", "meta_keywords": "exercise,2-15,algo,plantwide,departmental,predetermined,overhead,rates,job,costs,lo2-1,lo2-", "question_title_h1": " Exercise 2-15 (Algo) Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO2-1, LO2- 2, LO2-3, LO2-4] [The following information applies to the questions displayed", "question_title": " Exercise 2-15 (Algo) Plantwide and Departmental Predetermined Overhead Rates; Job Costs", "question_title_for_js_snippet": "Exercise 2 15 (Algo) Plantwide and Departmental Predetermined Overhead Rates Job Costs LO2 1, LO2 2, LO2 3, LO2 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 Machine hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine hour Molding 22,000 Fabrication $ 780,000 $ 4 00 33,000 $ 240,000 $ 1 00 Total 55,000 $ 1,020,000 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 Job D 70 Direct materials cost Direct labor cost Machine hours Molding $ 370,000 Fabrication $ 320,000 $ 120,000 $ 240,000 15,000 Molding 7,000 Fabrication Job C 200 Direct materials cost $ 260,000 $ 280,000 Direct labor cost Machine hours $ 160,000 7,000 $ 300,000 26,000 Total $ 690,000 $ 360,000 22,000 Total $540,000 $ 460,000 33,000 Delph had no underapplied or overapplied manufacturing overhead during the year Required 1 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 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 Complete the question by entering your answers in the tabs given below Required 1A Required 1B Required 1C Required 1D Assume Delph uses departmental predetermined overhead rates based on machine hours Compute the departmental predetermined overhead rates (Round the final answers to 2 decimal places ) Molding Department Fabrication Department Predetermined overhead rates per MH per MH Required 1A Required 1B Required 1C Required 1D Assume Delph uses departmental predetermined overhead rates based on machine hours Compute the total manufacturing cost assigned to Job D 70 and Job C 200 (Round your intermediate calculations to 2 decimal places Round your final answers to nearest whole dollar amount ) Total manufacturing cost Job D 70 Job C 200 Required 1A Required 1C Required 1A Required 1B Required 1C Required 1D Assume Delph uses departmental predetermined overhead rates based on machine hours 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 (Round your intermediate calculations to 2 decimal places Round your final answers to nearest whole dollar amount ) Bid price Job D 70 Job C 200 Required 1B Required 1D ", "question_description": "\"image\"image\"image\"image", "transcribed_text": "Exercise 2-15 (Algo) Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO2-1, LO2- 2, LO2-3, LO2-4] [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: Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Molding 22,000 Fabrication $ 780,000 $ 4.00 33,000 $ 240,000 $ 1.00 Total 55,000 $ 1,020,000 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: Job D-70 Direct materials cost Direct labor cost Machine-hours Molding $ 370,000 Fabrication $ 320,000 $ 120,000 $ 240,000 15,000 Molding 7,000 Fabrication Job C-200 Direct materials cost $ 260,000 $ 280,000 Direct labor cost Machine-hours $ 160,000 7,000 $ 300,000 26,000 Total $ 690,000 $ 360,000 22,000 Total $540,000 $ 460,000 33,000 Delph had no underapplied or overapplied manufacturing overhead during the year. Required: 1. 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. 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? Complete the question by entering your answers in the tabs given below. Required 1A Required 1B Required 1C Required 1D Assume Delph uses departmental predetermined overhead rates based on machine-hours. Compute the departmental predetermined overhead rates. (Round the final answers to 2 decimal places.) Molding Department Fabrication Department Predetermined overhead rates per MH per MH Required 1A Required 1B Required 1C Required 1D Assume Delph uses departmental predetermined overhead rates based on machine-hours. Compute the total manufacturing cost assigned to Job D-70 and Job C-200. (Round your intermediate calculations to 2 decimal places. Round your final answers to nearest whole dollar amount.) Total manufacturing cost Job D-70 Job C-200 < Required 1A Required 1C > Required 1A Required 1B Required 1C Required 1D Assume Delph uses departmental predetermined overhead rates based on machine-hours. 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? (Round your intermediate calculations to 2 decimal places. Round your final answers to nearest whole dollar amount.) Bid price Job D-70 Job C-200 < Required 1B Required 1D >", "related_book": { "title": "Accounting", "isbn": "130898414, 9780132997379, 978-0130898418, 132997371, 978-0132569309", "edition": "9th Edition", "authors": "Charles T. Horngren, Walter T. Harrison Jr., M. Suzanne Oliv", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/83.jpg", "uri": "\/textbooks\/accounting-9th-edition-83", "see_more_uri": "" }, "free_related_book": { "isbn": "1090286260", "uri": "\/textbooks\/einstein-on-the-train-and-other-stories-2019-edition-9781090286260", "name": "Einstein On The Train And Other Stories", "edition": "2019 Edition" }, "question_posted": "2024-05-26 02:13:54", "see_more_questions_link": "\/study-help\/questions\/business-economics-2023-September-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/precalculus\/let-x-x-3-gx-x-hx-x", "description": "Let (x) = x - 3, g(x) = x, h(x) = x 3 , and j(x) = 2x. 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