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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
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: Hachine-hours Fixed manufacturing overhead cost Molding 23,000 $780,000 Fabrication 32,000 $220,000 $ 1.50 Total 55,000 $1,000,000 Variable manufacturing overhead cost per machine-hour $5.00 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: Job D-70) Direct materials cost Direct labor cost Machine-hours ces Job C-200 Direct materials cost Direct labor cost Machine-hours Molding $370,000 Fabrication. Total $320,000 $690,000 $220,000 $140,000 $360,000 14,000 9,000 23,000 Molding Fabrication $220,000 $140,000 9,000 $ 240,000 $ 240,000 Total $460,000 $380,000 23,000 32,000 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? Complete the question by entering your answers in the tabs given below. Required 1A Required 18 Required 1C Required 10
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