Exercise 4-15 Plantwide and Departmental Overhead Rates: Job Costs [LO4-1, L04-2, L04-3] The following information applies to the questions displayed below.) Smithson 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: Molding Fabrication Total Machine-hours 32,000 42,000 74,000 Fixed manufacturing overhead costs $760,000 $200,000 $960,000 Variable manufacturing overhead per machine S 5.00 $ 5.00 Pour During the year, the company had no beginning or ending inventories and it started, completed, and sold only two jobs-Job D-75 and Job C-100. It provided the following information related to those two jobs: Job D-75 Molding Fabrication Total Direct materials cost $ 377,000 $324,000 $ 701,000 Direct labor cost $ 210,000 $ 130,000 $340,000 Machine-hours 22,000 10,000 32,000 Job C-100: Direct materials cost Direct labor cost Machine-hours Molding Fabrication Total $ 290,000 $ 210,000 $500,000 $ 170,000 $ 300,000 $470,000 10,000 32,000 42,000 Smithson had no overapplied or underapplied manufacturing overhead during the year. References Section Break Exercise 4-15 Plantwide and Departmental Overhead Rates: Job Costs [LO4- 1. LO4-2, L04-3) Exercise 4-15 Part 1 Assume Smithson uses a plantwide overhead rate based on machine-hours. Required: 1-a. Compute the predetermined plantwide overhead rate. (Round your answer to 2 decimal places.) overhead rate 1-b. Compute the total manufacturing costs assigned to Job D-75 and Job C-100. (Round your intermediate calculations to 2 decimal places.) Total manufactur cost Job D-75 Job C- 100 1-c. If Smithson establishes bid prices that are 120% of total manufacturing costs, what bid price would it have established for Job D-75 and Job C-100? (Round your intermediate calculations to 2 decimal places.) Bid price Job D-75 Job C-100 1-d. What is Smithson's cost of goods sold for the year? (Round your intermediate calculations to 2 decimal places.) Cost of goods sold goods sold