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 Compariy uses a job-order costing system with a plantwide predetermined overhead rate based

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Required information [The following information applies to the questions displayed below] Delph Compariy 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 58,000 machine-hours would be required for the period's estimated level of production. It also estimated $940,000 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 fo enable calculating departmental overhead rates: During the year, the company had no beginning or ending inventorles and it started, completed, and sold only two jobs Job D-70 and Job C.200. It Irovided the following information related to those two jobs: Delph had no underapplied or overapplied manufacturing overhead during the year. 1. Assume Delph uses plantwide predetermined overhead rates based on machine hours. a. Compute the plantwide predetermined overhead rate. 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 costs, 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? Complete the question by entering your answers in the tabs given below. Assume Delph uses plantwoe prevecormined overhead rates based on maching-hours, Compute the plantwide predetermined overhead rate, (Hound your answer to 2 decimal places.) 1. Assume Delph uses plantwide predetermined overhead rates based on machine-hours: a. Compute the plantwide predetermined overhead rate. 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 costs, 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? Complete the question by entering your answers in the tabs given below. Assume Delph uses plantwide predetermined overhead rates based on machine-hours. Compute the total manufocturing cost assigned to Job D-70 and Job C-200. (Roond your intermediate calculations to 2 decimal places. Round your final answers to the nearest whole dollar amount.) Required: 1. Assume Delph uses plantwide predetermined overhead rates based on machine-hours: a. Compute the plantwide predetermined overhead rate. 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 costs, 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? Complete the question by entering your answers in the tabs given below. Assume Delph uses plantwide predetermined overhead rates based on machine hours. If Delph establishes bid prices that are 150% of total manufacturing costs, what bid prices would it have established for Job D-70 and Job C-200? (Round your intermediate calculations to 2 decimal places. Round your final answers to the nearest whole dollar amount.) 1. Assume Delph uses plantwide predetermined overhead rates based on machine-hours. a. Compute the plantwide predetermined overhead rate. 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 costs, 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? Complete the question by entering your answers in the tabs given below. Assume Delph uses plantwide predetermined overhead rates based on machine-hours. What is Delph's cost of goods sold for the year? (Round your intermedate calculations to 2 decmal places. Round your final answer to the nearest whole dollar amount.)

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

Loose Leaf For Financial Accounting Fundamentals

Authors: John Wild, Ken Shaw, Barbara Chiappetta

6th Edition

1260151980, 978-1260151985

More Books

Students also viewed these Accounting questions

Question

politeness and modesty, as well as indirectness;

Answered: 1 week ago