Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Job D-70 Direct materials cost Direct labor cost Machine-hours Job C-200 Direct materials cost

Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Job D-70 Direct materials cost Direct labor cost Machine-hours Job C-200 Direct materials cost Direct labor cost 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: Molding $ 370,000 $ 240,000 16,000 Machine-hours. Molding $ 280,000 $ 160,000 5,000 Fabrication $ 320,000 $ 160,000 5,000 Molaing 21,000 $ 800,000 $ 4.00 Fabrication $ 280,000 $ 220,000 26,000 Total $ 690,000 $ 400,000 21,000 Total $ 560,000 $ 380,000 31,000 Delph had no underapplied or overapplied manufacturing overhead during the year. Fabrication Required: 2. Assume Delph uses departmental predetermined overhead rates based on machine-hours. 31,000 $ 300,000 $ 2.00 Total 52,000 $ 1,100,000 a. Compute the departmental predetermined overhead rates. 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-200? d. What is Delph's cost of goods sold for the year?
image text in transcribed
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: Delph had no underapplied or overapplied manufacturing overhead during the year. Required: 2. Assume Delph uses departmental predetermined overhead rates based on machine-hours. a. Compute the departmental predetermined overhead rates. 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-200? d. What is Delph's cost of goods sold for the year

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions