Exercise 2-17 (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 job-order costing with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that 51,000 machine-hours would be required for the period's estimated level of production. It also estimated $1,040,000 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: Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Molding 21,000 $760,000 $ 5.00 Fabrication $ 280,000 $ 1.00 Total 30,000 51,000 $ 1,040,000 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: Job D:70 Direct materials cost Direct labor cost Machine-hours Job C-200 Direct materials cost Direct labor cost Machine-hours Molding $370,000 $220,000 16,000 Molding $ 240,000 $ 100,000 5,000 Fabrication $ 320,000 $ 140,000 5,000 Fabrication $ 240,000 $ 280,000 25,000 Total $690,000 $360,000 21,000 Total $480,000 $460,000 30,000