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Required Information [The following information applies to the questions displayed below.) Espinoza-Hunter 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.) Espinoza-Hunter 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 20,000 Fixed manufacturing overhead costs $ 720,000 $ 260,000 $ 980,000 Variable manufacturing overhead cost per machine-hour 31,000 51,000 4.00 $ 1.50 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 Fabrication Total $ 370,000 $ 320,000 $ 690,000 $ 220,000 $ 140,000 $360,000 17,000 3,000 20,000 Job C-200: Direct materials cost Direct labor cost Machine-hours Molding Fabrication Total $ 240,000 $ 280,000 $ 520,000 $ 180,000 $ 220,000 $400,000 3,000 28,000 31,000 Espinoza-Hunter had no underapplied or overapplied manufacturing overhead during the year. Required: 1. Assume Espinoza-Hunter uses a plantwide predetermined overhead rate based on machine-hours. a. Compute the plantwide predetermined overhead rate. b. Compute the total manufacturing cost assigned to Job D-70 and Job C-200. c. If Espinoza-Hunterestablishes 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 Espinoza-Hunter'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 a plantvide predetermined overhead rate based on machine-hours. Compute the plantvide predetermined overhead rate. (Round your answer to 2 decimal places.) Predetermined overhead rate per MH
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