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 Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour 24,000 $ 700,000 $ 4.00 Fabrication 34,000 $ 220,000 $ 2.00 Total 58,000 $ 920,000 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 $ 220,000 14,000 Fabrication $ 320,000 $ 140,000 10,000 Total $ 690,000 $ 360,000 24,000 Job C-200 Direct materials cost Direct labor cost Machine-hours Molding $ 240,000 $ 140,000 10,000 Fabrication $ 280,000 $ 280,000 24,000 Total $ 520,000 $ 420,000 34,000 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 1B Required 1C Required 1D Complete the question by entering your answers in the tabs given below. Required 1A Required 1B Required 10 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.) Molding Department Fabrication Department Predetermined overhead rates per MH per MH Complete the question by entering your answers in the tabs given below. 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 Complete the question by entering your answers in the tabs given below. Required 1A Required 1B Required 10 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 Complete the question by entering your answers in the tabs given below. Required 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? (Round your intermediate calculations to 2 decimal places. Round your final answer to nearest whole dollar amount.) Cost of goods sold
