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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 Fabrication.
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 Total Machine-hours 20,000 30,000 50, 090 Fixed manufacturing overhead cost $ 700,000 $ 210,606 Variable manufacturing overhead cost per machine-hour $ 3.00 $ 1.00 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: Molding Fabrication Total Direct materials cost $ 375, 000 $ 325, 000 $ 700,000 Direct labor cost $ 200, 006 $ 160, 000 $ 360, 000 Machine-hours 14, 090 6,000 20, 090 Job C-200: Molding Fabrication Total Direct materials cost $ 300, 006 $ 250,000 $ 550,000 Direct labor cost $ 175, 006 $ 225,006 $ 400, 090 Machine-hours 6,090 24,000 30, 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 this question by entering your answers in the tabs below. Required 1A Required 1B Required 1C Required 1D Assume Delph uses departmental predetermined overhead rates based on machine-hours. Compute the departmental predetermined overhead rates. Predetermined overhead rates Molding Department per MH Fabrication Department per MH Required 1A Required 1B Required 1C Required 1D Assume Delph uses departmental predetermined overhead rates based on machine-hours. Compute the total manufacturing cost assigned to Job D-70 and Job C-200. Total manufacturing cost Job D-70 Job C-200 Required 14 Required 1B Required 1C Required 1D Assume Delph uses departmental predetermined overhead rates based on machine-hours. What is Delph's cost of goods sold for the year? Cost of goods soldRequired 1A Required 1B Required 1C Required 1D Assume Delph uses departmental predetermined overhead rates based on machine-hours. What is Delph's cost of goods sold for the year? Cost of goods sold $ 2,840,000 XRequired 1A Required 1B Required 1C Required 1D Assume Delph uses departmental predetermined overhead rates based on machine-hours. 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? Bid price Job D-70 $ 2,413,500 X Job C-200 $ 1,846,500 XRequired 1A Required 1B Required 1C Required 1D Assume Delph uses departmental predetermined overhead rates based on machine-hours. Compute the total manufacturing cost assigned to Job D-70 and Job C-200. Total manufacturing cost Job D-70 1,609,000 X Job C-200 1,231,000 XRequired 1A Required 18 Required 1C Required 1D Assume Delph uses departmental predetermined overhead rates based on machine-hours. Compute the departmental predetermined overhead rates. Molding Department 35 8 per MH Fabrication Department
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