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Please answer all 4 parts Delph Company uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of
Please answer all 4 parts
Delph Company uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that 55,000 machine-hours would be required for the period's estimated level of production. It also estimated $960,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $5.00 per machine-hour. Because Delph has two manufacturing departments-Molding and Fabricationit is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following information to enable calculating departmental overhead rates: Molding Fabrication Total Machine-hours 24,000 31,000 55,000 Fixed manufacturing overhead cost $760,000 $ 200,000 $ 960,000 Variable manufacturing overhead cost per machine-hour $ 5.00 $ 2.00 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 Molding Fabrication Total Direct materials cost $ 370,000 $ 320,000 $ 690,00 Direct labor cost $ 220,000 $ 140,000 S 360,000 Machine-hours 16,000 8,000 24,080 Job -200 Molding Fabrication Total Direct materials cost $ 300,000 $ 220,000 $ 520,000 Direct labor cost $ 109,000 $ 240,000 S 340,000 Machine-hours 8,800 23,000 31,00 Delph had no underapplied or overapplied manufacturing overhead during the year Required: 1. Assume Delph uses plantwide predetermined overhead rates based on machine-hours. a Compute the plantwide predetermined overhead rate. b. Compute the total manufacturing cost assigned to Job D-70 and Job C-200. cIf Delph establishes bid prices that are 150% of total manufacturing costs, what bid prices would it have established for Job D-70 and Job C-2002 d. What is Delph's cost of goods sold for the year? Complete the question by entering your answers in the tabs given below. Required 1A Required 16 Required 10 Required 1D Assume Delph uses plantwide predetermined overhead rates based on machine-hours. Compute the plantwide predetermined overhead rate. (Round your answer to 2 decimal places.) Predetermined-overhead rate per MH Required 1B > Required 1A Required 1B Required 10 Required 1D Assume Delph uses plantwide 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 the nearest whole dollar amount.) Total Manufacturing Cost Job D-70 Job C-200 Required 1A Required 1B Reguired 10 Required 1D Assume Delph uses plantwide predetermined overhead rates based on machine-hours. If Delph establishes bid prices that are 150% of total manufacturing costs, what bid prices would it have established for Job D-70 and Job C-200? (Round your intermediate calculations to 2 decimal places. Round your final answers to the nearest whole dollar amount.) Bid Price Job D-70 Job C-200 Assume Delph uses plantwide 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 the nearest whole dollar amount.) Cost of goods soldStep by Step Solution
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