Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Machine-hours Fixed manufacturing overhead costs Variable manufacturing overhead cost per machine-hour Molding Fabrication 24,000 34,000 $ 730,000 $ 240,000 $ 5.50 $ 5.50 Total 58,000

image text in transcribed

Machine-hours Fixed manufacturing overhead costs Variable manufacturing overhead cost per machine-hour Molding Fabrication 24,000 34,000 $ 730,000 $ 240,000 $ 5.50 $ 5.50 Total 58,000 $ 970,000 During the year, the company had no beginning or ending inventories and it started, completed, and sold only two jobsJob 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 $ 371,000 $ 323,000 $ 694,000 $ 230,000 $ 120,000 $ 350,000 18,000 6,000 24,000 Job C-200: Direct materials cost Direct labor cost Machine-hours Molding Fabrication Total $ 230,000 $ 230,000 $ 460,000 $ 150,000 $ 260,000 $ 410,000 6,000 28,000 34,000 Delph had no underapplied or overapplied manufacturing overhead during the year. Required: . Assume Delph uses a plantwide predetermined overhead rate based on machine-hours. a. Compute the plantwide predetermined overhead rate. . Compute the total manufacturing cost assigned to Job D-70 and Job C-200. c. If Delph establishes bid prices that are 140% of total manufacturing cost, what bid prices would it have established for Job D- F0 and Job C-200? 2. 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 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

Students also viewed these Accounting questions

Question

What is the relationship between trademarks and trade names?

Answered: 1 week ago

Question

Guidelines for Informative Speeches?

Answered: 1 week ago