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 Holding Fabrication Total Machine-hours 56,000 Fixed manufacturing overhead cost $ 240,000 $1,040,000 Variable manufacturing overhead cost per machine-hour 3.00 1.00 34,000 22,000 $800,000 $ $ 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 Molding Fabrication. Total Direct materials cost $ 370,000 $320,000 $690,000 Direct labor cost $ 220,000 $140,000 $360,000 Machine-hours 15,000 7,000 22,000 Job C-200 Holding Fabrication Total Job D-70 Direct materials cost Direct labor cost Machine-hours Molding Fabrication Total $ 370,000 $ 320,000 $699,000 $ 220,000 $140,000 $360,000 15,000 7,000 22,000 12 Job C-200 Direct materials cost Direct labor cost Machine-hours Molding Fabrication total $ 280,000 $ 260,000. $540,000 $ 160,000 $ 280,000 $440,000 7,000 27,000 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-2007 d. What is Delph's cost of goods sold for the year? [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 Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Holding Fabrication Total 22,000 34,000 56,000 $800,000 $240,000 $1,040,000 $ 3.60 $ 1.ee 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 FabricationTotal Direct materials cost $ 370,000 $320,000 $690,000 Direct labor cost $ 220,000 $ 140,000 $360,000 Machine-hours 15,000 7,000 22,000 Job C-200 Molding Fabrication Total Job C-200 Direct materials cost Direct labor cost Machine-hours Molding Fabrication Total $ 280,000 $ 260,000 $540,000 $ 160,000 $ 280,000 $440,000 7,000 27,000 34,800 Delph had no underapplied or overapplied manufacturing overhead during the year, 2. Assume Delph chooses to combine its departmental rates from requirement 1 into 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 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? Answer is complete but not entirely correct. Complete the question by entering your answers in the tabs given below
