Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed
image text in transcribed
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 21,000 Fixed manufacturing overhead cost 30,000 51,000 $ 800,000 $ 300,000 variable manufacturing overhead cost per machine-hour $ 1,100,000 $ 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 $ 370,000 $ 320,000 Direct labor cost $ 690,000 $ 220,000 $ 140,000 $360,000 Machine-hours 17,000 4,000 21,000 Job C-200 Molding Fabrication Total Direct materials cost $ 260,000 $ 200,000 $ 460,000 Direct labor cost $ 160,000 $ 240,000 $ 400,000 Machine-hours 4,000 26,000 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-2007 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 10 Required 10 Assume Delph uses departmental nataterminadament

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management Accounting International

Authors: Anthony A. Atkinson, Robert S. Kaplan, S. Mark Young

4th Edition

0131230263, 978-0131230262

More Books

Students also viewed these Accounting questions

Question

Summarize the deposit rules for nonagricultural employers.

Answered: 1 week ago

Question

Add or subtract as indicated. Add. 21p - 8 -9p +4

Answered: 1 week ago