Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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.

image text in transcribedimage text in transcribed

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 Molding Fabrication 37,000 Machine-hours Fixed manufacturing overhead costs Variable manufacturing overhead cost per machine-hour 27,000 S 750,000 64,000 270,000 $1,020,900 $5.10 5.10 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 Fabrication Total S 375,000 326,000 S 701,000 S 200,000 140,000 340,000 18,000 9,000 27,000 Job C-200: Direct materials cost Direct labor cost Machine-hours Molding Fabrication Total s 210,000 270,000 S 480,000 S 140,000 230,000 S 370,000 9,000 28,000 37,000 Delph had no underapplied or overapplied manufacturing overhead during the year Required 1A Required 1B Required 1C Required 1D Assume Delph uses a plantwide predetermined overhead rate based on machine-hours. Compute the plantwide predetermined overhead rate. (Round your answer to 2 decimal places.) Predetermined overhead rate per MH Required 1A Required 1B Required 1C Required 1D Assume Delph uses a plantwide predetermined overhead rate based on machine-hours. Compute the total manufacturing cost assigned to Job D-70 and Job C-200. (Round your intermediate calculations to 2 decimal places.) Total Manufacturing Cost Job D-70 Job C-200 Assume Delph uses a plantwide predetermined overhead rate based on machine-hours. If Delph establishes bid prices that are 140% of total manufacturing cost, what bid prices would it have established for Job D-70 and Job C-2007 (Round your intermediate calculations to 2 decimal places.) Bid price Job D-70 Job C-200 Assume Delph uses a plantwide predetermined overhead rate based on machine-hours. What is Delph's cost of goods sold for the year? (Round your intermediate calculations to 2 decimal places.) Cost of goods sold

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

Systems Direct Auditing Practice Case IBM Book Workbook And 5.25 Disk

Authors: Dieter Weiss, Gaylord N. Smith

1st Edition

0538809051, 978-0538809054

More Books

Students also viewed these Accounting questions

Question

and then

Answered: 1 week ago

Question

4. Are there any disadvantages?

Answered: 1 week ago

Question

3. What are the main benefits of using more information technology?

Answered: 1 week ago

Question

start to review and develop your employability skills

Answered: 1 week ago