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please help solve all Required information [The following information applies to the questions displayed below.] Delph Company uses a job-order costing system and has two
please help solve all
Required information [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 Job D-70 Direct materials cost Direct labor cost Machine-hours Molding $ 370,000 $ 240,000 17,000 Molding 23,000 $ 700,000 $ 4.00 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: Fabrication $ 320,000 $ 120,000 6,000 Fabrication 32,000 $ 240,000 $1.00 Total $ 690,000 $360,000 23,000 Total $ 940,000 55,000 Job C-200 Molding $ 300,000 Fabrication $ 280,000 Direct materials cost Total $ 580,000 $360,000 32,000 Direct labor cost Machine-hours $ 240,000 26,000 $ 120,000 6,000 Delph had no underapplied or overapplied manufacturing overhead during the year. Required: 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
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