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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 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
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