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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: Machine-hours Pixed manufacturing overhead costs Variable manufacturing overhead cost per machine-hour Molding Fabrication Total 22,000 33,000 55,000 $ 760,000 $ 220,000 $980,000 5 4.00 $ 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-701 Molding Yabrication Total Direct materials cost $ 370,000 $ 320,000 $ 690,000 Direct labor cost $ 220,000 $ 180,000 $ 400,000 Machine-hours 15,000 7.000 22,000 Job C-200: Direct materials cost Direct labor cost Machine-hours Molding Fabrication Total $ 220,000 $ 220,000 $ 440,000 $ 160,000 $ 240,000 $400,000 7.000 26,000 33,000 Delph had no underapplied or overapplied manufacturing overhead during the year, Job C-200: Direct materials cost Direct labor cost Machine-hours Molding Fabrication Total $ 220,000 $ 220,000 $ 440,000 $ 160,000 $ 240,000 $ 400.000 7,000 26,000 33,000 Delph had no underapplied or overapplied manufacturing overhead during the year 2. 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 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
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