Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please assist with this question At the beginning of the year, the company estimated that 53,000 machine-hours would be required for the period's estimated level

please assist with this question
image text in transcribed
At the beginning of the year, the company estimated that 53,000 machine-hours would be required for the period's estimated level of production. It also estimated $980,000 of fored manufocturing overheed cost for the coming period and variable manufacturing overhead of $3,00 per machine hour. Becouse Delph has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gothered the following information to enable calculating departmental overheod rates: During the year, the company had no beginning or ending inventorles and it started, completed, and sold only two jobsJob D-70 and Job C-200. It provided the following information telated to those two jobs: Delph had no underapplied or overapplied manufacturing overhead during the year. Exercise 3-17 (Algo) Part 2 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 0.70 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 to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

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

Financial Accounting For Decision Makers

Authors: Peter Atrill

8th Edition

1292099046, 978-1292099040

More Books

Students also viewed these Accounting questions