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 with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that 56,000 machine-hours would be required for the period's estimated level of production. It also estimated $1,000,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $5.00 per machine-hour. Because Delph has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following Information to enable calculating departmental overhead rates: Total Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Molding 24,000 S740,000 $5.00 Fabrication 32,000 $260,000 $ 1.50 56,000 $1,000,000 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 Job C-200 Direct materials cost Direct labor cost Machine-hours Total $ 690,000 $ 320,000 24,000 Molding: $ 370,000 $ 200,000 16,000 Fabrication $ 320,000 $ 120,000 8,000 Fabrication Total $480,000 Molding $ 260,000 $ 120,000 8,000 $220,000 $ 240,000 24,000 $360,000 32,000