Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

my answers below were incorrect. Delph Company uses a job order costing system and has two manufacturing departments-Molding and Fabrication. The company provided the following

image text in transcribed
my answers below were incorrect.
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
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 Total Machine-hours 24,000 31,000 55,000 Fixed manufacturing overhead cost $ 740,000 $ 220,000 $ 960,000 Variable manufacturing overhead cost per machine-hour $ 4.00 $ 1.00 During the year, the company had no beginning or ending inventories and it started, completed, and sold only two jobs- Jqo D70 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 $ 370,000 $ 220,000 14,000 Fabrication $ 320,000 $ 180,000 10,000 Total $ 690,000 $ 400,000 24,000 Job C-200 Direct materials cost Direct labor cost Machine-hours Molding $ 240,000 $ 140,000 10,000 Fabrication $ 300,000 $ 220,000 21,000 Total $ 540,000 $ 360,000 31,000 Delph had no underapplied or overapplied manufacturing overhead during the year. Required 1A Required 1B Required 1C Required 1D Assume Delph uses departmental predetermined overhead rates based on machine-hours. Compute the departmental predetermined overhead rates. (Round the final answers to 2 decimal places.) Predetermined overhead rates Molding Department 38.00 per MH Fabrication Department $ 8.00 per MH $ Required 1A Required 1B Required 1C Required 1D Assume Delph uses departmental predetermined overhead rates based on machine-hours. Compute the total manufacturing cost assigned to Job D-70 and Job C-200. (Round your intermediate calculations to 2 decimal places. Round your final answers to nearest whole dollar amount.) Total manufacturing cost Job D-70 Job C-200 1,640,000 1,370,000 $ Required 1A Required 18 Required 10 Required 1D Assume Delph uses departmental predetermined overhead rates based on machine-hours. 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-2007 (Round your intermediate calculations to 2 decimal places. Round your final answers to nearest whole dollar amount.) Job D-70 Job C-200 $ $ Bid price 2,460,000 2.055.000 Required 1A Required 1B Required 1C Requred 1D Assume Delph uses departmental predetermined overhead rates based on machine-hours. What is Delph's cost of goods sold for the year? (Round your intermediate calculations to 2 decimal places. Round your final answer to nearest whole dollar amount.) Cost of goods sold 3,010,000

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

Managerial Accounting

Authors: Karen Wilken Braun, Wendy Tietz, Walter Harrison, Rhonda Pyp

1st Canadian Edition

978-0132490252, 132490250, 978-0176223311

More Books

Students also viewed these Accounting questions