Problem 1 - Plantwide and Departmental Predetermined Overhead Rates; Job Costs - 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 $4.00 per machine-hour. Because 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 gathered the following information to enable calculating departmental overhead rates: Machine-hours Fixed manufacturing overhead cost Molding Fabrication Total 22,000 33,000 55,000 $740,000 $220,000 $960,000 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 Molding $370,000 Fabrication $ 320,000 Total $690,000 Direct labor cost $ 240,000 $160,000 $400,000 Machine-hours 13,000 9,000 22,000 Job C-200 Molding Fabrication Direct materials cost $ 300,000 $220,000 Total $520,000 Direct labor cost Machine-hours $ 160,000 $ 240,000 $400,000 9,000 24,000 33,000 Delph had no underapplied or overapplied manufacturing overhead during the year. Required: 2. Assume Delph uses departmental predetermined overhead rates based on machine-hours. Compute the departmental predetermined overhead rates. a. b. c. Compute the total manufacturing cost assigned to Job D-70 and Job C-200. 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?