Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Req uired information [The foiiowing information appiies to the questions dispiayed beioiiv._lif Delph Company uses a joborder costing system and has two manufacturing departmentsMolding and

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
Req uired information [The foiiowing information appiies to the questions dispiayed beioiiv._lif Delph Company uses a joborder costing system and has two manufacturing departmentsMolding and Fabrication. The company provided the following estimates at the beginning of the year. Holding Fabrication Total Machinehours 24,888 35,880 59,800 Fixed manufacturing warhead costs $ 110,888 $ 228,880 5 958,800 Variable manufacturing overhead cost per machinehour $ 4.88 $ 1.80 During the year, the company had no beginning or ending inventories and it started, completed and sold only two jobs Job D-7ID and Job (3-200. it provided the following information related to those two jobs: Job Di': Holding Fabrication Total Direct materials cost $ 3?0, 888 $ 328, 000 $ 598, 800 Direct labor cost $ 220, 888 $ 168, 000 $ 388, 800 Machinehours 15,888 9,000 24,800 | J oh (238: Hold ing Fabrication Tota 1 Direct mate ria 15 cost $ 260, 088 $ 228, 800 $ 488 , 800 Direct labor cost $ 120,088 $ 268,800 $ 388, 800 Machinehours 8,088 26,800 35,800 Delph had no underapplied or overapplied manufacturing overhead during the year. 2. Assume Delph uses departmental predetermined overhead rates based on machinehours. a. Compute the departmental predetermined overhead rates. b. Compute the total manufacturing cost assigned to Job D70 and Job (3200. c. If Delph establishes bid prices that are 150% oftotal manufacturing costs, what bid prices would it have established for Job 070 and Job CZOO? d. What is Delph's cost of goods sold for the year? 2. Assume Delph uses departmental predetermined overhead rates based on machinehours. a. Compute the departmental predetermined overhead rates. b. Compute the total manufacturing cost assigned to Job DTO and Job (3-200. c. If Delph establishes bid prices that are 150% of total manufacturing costs, what bid prices would it have established for Job 070 and Job (3-200? d. What is Delph's cost of goods sold for the year? Complete the question by entering your answers in the tabs given below. RBI] 2A RBI] ZB RBI] 2': Req 2D Compute the departmental predetermined overhead Iates. (Round the nal answers to 2 decimal places.) Molding Department Fabrication Department 2. Assume Delph uses departmental predetermined overhead rates based on machinehours. a. Compute the departmental predetermined overhead rates. b. Compute the total manufacturing cost assigned to Job DTO and Job (3200. c. If Delph establishes bid prices that are 150% of total manufacturing costs, what bid prices would it have established for Job 0-70 and Job (3200? d. What is Delph's cost of goods sold for the year?I Complete the question by entering your answers in le tabs given below. Compute the total manufacturing cost assigned to Job 0?0 and Job CZOO. (Round your intermediate calculations to 2 decimal places. Round your nal answers to nearest whole dollar amount.) 2- Assume Delph uses departmental predetermined overhead rates based on machinehours. a. Compute the departmental predetermined overhead rates. b. Compute the total manufacturing cost assigned to Job DTO and Job (3-200. c. If Delph establishes bid prices that are 150% of total manufacturing costs, what bid prices would it have established for Job 0-70 and Job (3200? [1. What is Delph's cost of goods sold for the year? Complete the question by entering your answers in line tabs given below. Reg 2A Reg 23 If Delph establishes bid prices that are 150% of total manufacturing costs, what bid prices would it have established for Job D-? and Job C-ZDU? (Round your intermediate calculations to 2 decimal places. Round your nal answers to nearest whole dollar amount.) Jo b DTl] Jo b (320 [1 2. Assume Delph uses departmental predetermined overhead rates based on machinehours. a. Compute the departmental predetermined overhead rates. b. Compute the total manufacturing cost assigned to Job D70 and Job (3200. :2. If Delph establishes bid prices that are 150% of total manufacturing costs, what bid prices would it have established for Job 070 and Job CZOO? d. What is Delph's cost of goods sold for the year?I Complete the question by entering your answers in line tabs given below. Req 2A Req 23 Req 2c What is Delph's cost of goods sold for the year? {Round your intermediate calculations to 2 decimal places. Round your nal answer to nearest whole dollar amount.) ( Req 2C

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

College Accounting A Practical Approach

Authors: Jeffrey Slater, Debra Good

13th Canadian edition

134616316, 134166698, 9780134632407 , 978-0134166698

More Books

Students also viewed these Accounting questions

Question

6. How can hidden knowledge guide our actions?

Answered: 1 week ago

Question

7. How can the models we use have a detrimental effect on others?

Answered: 1 week ago