Exercise 3-17 (Algo) Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO3-1, LOS 2, LO3-3, LO3-4] [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 $920,000 of fixed manufacturing overhead cost for the coming period an variable manufacturing overhead of $4.00 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 22,000 $ 700,000 $ 4.00 Fabrication 34,000 $220,000 $ 2.00 Total 56,000 $920,000 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: 22,000 Job D-70 Direct materials cost Direct labor cost Machine-hours Molding $370,000 $ 200,000 13,000 Fabrication $ 320,000 $ 140,000 9,000 Total $ 690,000 $340,000 Job C-200 Molding Direct materials cost $ 240,000 Fabrication $ 280,000 Direct labor cost $ 120,000 $ 260,000 Machine-hours 9,000 25,000 Total $520,000 $380,000 34,000 Delph had no underapplied or overapplied manufacturing overhead during the year. Exercise 3-17 (Algo) Part 2 Required: 2. 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-7C Job C-200? d. What is Delph's cost of goods sold for the year