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I did this problem the other day and I know that the answers are all correct, but I can not find the paper where I
I did this problem the other day and I know that the answers are all correct, but I can not find the paper where I wrote down all my steps to solve the problem. If you can please show me the steps on how to get the right answers, that would be greatly appreciated. You can find the question and my correct answers in the upload itself.
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 30,000 $ 710,000 Total 70,000 Machine-hours Fixed manufacturing ovehead costs Variable manufacturing overhead per machine hour 40,000 260,000 970,000 5.00 S 5.00 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: Direct materials cost Direct labor cost Molding Fabrication Total $ 372,000 $ 322,000 $ 694,000 $ 230,000$130,000 $360,000 30,000 23,000 7,000 Job C-100: Direct meterials cost Molding Fabrication Total $ 260,000 220,000 $480,000 $160,000$240,000 $400,000 33,000 40,000 Direct labor cost 7,000 Smithson had no overapplied or underapplied manufacturing overhead during the year. 25.00 points 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.) S 18.86 per MH 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 manufacturing cost $1,619.800 $1,634.400 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 $ 1,943,760 $1,961,280 ob 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.) t of goods sold 3,254,200Step by Step Solution
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