Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

hw 2 Required information 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

hw 2 image text in transcribed
image text in transcribed
Required information 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 and has two manufacturing departments-Molding and Fabrication. The company provided the following estimates at the beginning of the year: Molding Fabrication Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cont per machine-hour $ 3.00 1.00 21,000 $720,000 32,000 $240,000 $ Total 53,000 $960,000 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 $220,000 $140,000 $360,000 16,000 5,000 21,000 Job C-200 Direct materials cost Direct labor cost Machine-hours Molding Fabrication Total $260,000 $ 280,000 $540,000 $160,000 $240.000 $400,000 5,000 27,000 32.000 Delph had no underapplied or overapplied manufacturing overhead during the year Exercise 2-15 (Algo) Part 2 2. Assume Delph chooses to combine its departmental rates from requirement 1 into a plantwicte 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 costs, 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. Required 2A Required 28 Required 2C Required 2D Assume Delph chooses to combine its departmental rates from requirement 1 into a plantwide predetermined overhead rate based on machine-hours. Compute the plantwide predetermined overhead rate. (Round your answer to 2 decimal places.) Predetermined overhead rato per MH 21 Required 28 >

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Contemporary Auditing Real Issues And Cases

Authors: Michael C. Knapp

6th Edition

0324303254, 9780324303254

More Books

Students also viewed these Accounting questions