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need help with required 1A, 1B, 1C, 1D Delph Company uses a job-order costing system and has two manufacturing departments-Molding and Fabrication The company provided
need help with required 1A, 1B, 1C, 1D
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 22,099 34,000 56,000 Fixed manufacturing overhead cost $760,000 $ 200,000 $ 960,000 Variable manufacturing overhead cost per machine-hour $ 3.00 $ 1.50 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 Job D-70 Direct materials cost Direct labor cost Machine-hours Molding $ 370,000 $ 220,000 15,000 Fabrication $ 320,000 $ 140,000 7,000 Total $ 690,000 $360,000 22,080 Job C-200 Direct materials cost Direct labor cost Machine-hours Molding $ 240,000 $ 160,000 7,000 Fabrication S240,000 $ 220,000 27,000 Total $ 480,000 $ 380,000 34,000 Delph had no underapplied or overapplied manufacturing overhead during the year. 1. 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? Answer is not complete. Complete the question by entering your answers in the tabs given below. Required 1A Required 18 Required 10 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.) Molding Department Fabrication Department Predetermined overhead rates S 5.60 X per MH S 5.60 per MH Raamid Required 1A Required 18 Required 10 Required 10 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 1.634.440 1,608 240 x $ Job D-70 Job C-200 $ Required 1A Required 1B Required 10 Required 10 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.) Bid price Job D-70 Job C-200 Required 1A Required 18 Required 1C Required 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 Step by Step Solution
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