Required information [The following information applies to the questions displayed below.] Delph Company uses a job-order costing system and has two manufacturing departmentsMolding and Fabrication. The company provided the following estimates at the beginning of the year: Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Molding 23,000 $ 760,000 $ 4.00 Fabrication 32,000 $ 240,000 $ 1.00 Total 55,000 $ 1,000,000 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 $ 370,000 $ 240,000 14,000 Fabrication $ 320,000 $ 140,000 9,000 Total $ 690,000 $ 380,000 23,000 Job C-200 Direct materials cost Direct labor cost Machine-hours Molding $ 220,000 $ 120,000 9,000 Fabrication $ 240,000 $ 260,000 23,000 Total $ 460,000 $ 380,000 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? 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. (Round the final answers to 2 decimal places.) Predetermined overhead rates per MH Molding Department Fabrication Department per MH Required 1A Required 1B Required 10 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. (Round your intermediate calculations to 2 decimal places. Round your final answers to nearest whole dollar amount.) Total manufacturing cost Job D-70 Job C-200 Required 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? (Round your intermediate calculations to 2 decimal places. Round your final answers to nearest whole dollar amount.) Bid price Job D-70 Job C-200 Required 1A Required 1B Required 10 Required 1D Assume Delph uses departmental predetermined overhead rates based on machine-hours. What is Delph's cost of goods sold for the year? (Round your intermediate calculations to 2 decimal places. Round your final answer to nearest whole dollar amount.) Cost of goods sold
