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I need some help with the question attached below. Everything needed can be found in the attachment itself. The following information applies to the questions
I need some help with the question attached below. Everything needed can be found in the attachment itself.
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 40,000 Total 70,000 30,000 $710,000260,000 970,000 Fixed manufacturing overhead costs Variable manufacturing overhead per machine-hour 5.00 $ 5.00 During the year, the company had no beginning or ending inventories and it started, completed, and sold only two jobs-Job D75 and Job C-100. It provided the following Information related to those two jobs: Job D-75: Direct materials cost Direct labor cost Molding Fabricaton Total $ 372,000 $ 322,000$ 694,000 $ 230,000 $ 130,000 $ 360,000 30,000 23,000 7,000 Job C-100: Direct materials cost Direct labor cost Molding Fabrication Total $260,000$220,000 $480,000 $ 160,000 $ 240,000 $400,000 33,000 40,00O 7,000 Smithson had no overapplied or underapplied manufacturing overhead during the year. velue: 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.) 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.) manufacturing cost Job D-75 Job C-100 1-G 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-1007( 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 Intermedlate calculatlons to 2 declmal places.) st of goods sStep by Step Solution
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