Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

PLEASE HELP ME WITH THE 1 ABCD ! Required information Exercise 2-15 (Algo) Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO2-1, LO2- 2, LO2-3,

image text in transcribedimage text in transcribedPLEASE HELP ME WITH THE 1 ABCD

! Required information Exercise 2-15 (Algo) Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO2-1, LO2- 2, LO2-3, LO2-4) (The following information applies to the questions displayed below. 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: Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Molding 24,000 $ 740,000 $ 3.00 Fabrication 35,000 $ 280,000 $ 1.00 Total 59,000 $ 1,020,000 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 $ 200,000 16,000 Fabrication $ 320,000 $ 160,000 8,000 Total $ 690,000 $ 360,000 24,000 Job C-200 Direct materials cost Direct labor cost Machine-hours Molding $ 220,000 $ 120,000 8,000 Fabrication $ 260,000 $ 260,000 27,000 Total $ 480,000 $ 380,000 35,000 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

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

Return Jahrgang 2018 Magazin Fur Transformation Und Turnaround

Authors: Stefanie Burgmaier, Hans Haarmeyer, Thorsten Garber

3rd Edition

365825601X, 9783658256012

More Books

Students also viewed these Accounting questions

Question

What are the steps that the EEOC uses once a charge is filed?

Answered: 1 week ago

Question

What would you do?

Answered: 1 week ago