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formation [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.
formation [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 costs Variable manufacturing overhead cost per machine-hour Molding Fabrication 21,000 Total 30,000 51,000 $260,000 $1,000,000 $ 5.00 $ 2.00 $740,000 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 Fabrication. Total $370,000 $320,000 $690,000 $200,000 $ 180,000 $380,000 13,000 8,000 21,000 Job C-200: Direct materials cost Direct labor cost Machine-hours Molding Fabrication Total $300,000 $ 280,000 $580,000 $ 160,000 $300,000 $460,000 8,000 22,000 30,000 Delph had no underapplied or overapplied manufacturing overhead during the year Required: 1. Assume Delph uses a plantwide predetermined overhead rate based on machine-hours a. Compute the plantwide predetermined overhead rate. 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-2007 d. What is Delph's cost of goods sold for the year? Complete the question by entering your answers in the tabs given below.
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