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
image text in transcribed
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 Machine-hours ixed manufacturing overhead cost Variable sanufacturing overhead cost per machine-hour Holding Fabrication Total 25,000 31,000 56,000 $740,000 $200,000 $1,020,000 55.00 $ 2.00 During the year, the company had no beginning or ending Inventories and it started, completed, and sold only two jobs Job D70 and Job C-200. It provided the following information related to those two jobs Holding Fabrication Total Direct materials cost $370,000 $ 320,000 $190,000 Direct labor cost $ 200,000 $ 160,000 $360,000 Machine hours 12.000 200 Direct saterials cont Direct lobor: cost machine hours Molding Fabrication Yotal $220,000 $ 220,000 $440,000 $120.000 $200,000 $400.000 Delph had no underapplied or overapplied manufacturing overhead during the year ni 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. Delph establishes bid prices that are 150% of total manufacturing cost, what bid prices would at have established for Job D-70 and Job C-2002 a What is Delph's cost of goods sold for the year? ces Complete the question by entering your answers in the tabs given below. Required 10 Required IA Required 18 Required 10 Assume Delph uses departmental predetermoed overhead rates based on machine-hours. Compute the departmental pwede mind overhead rates (Round the first answers to 2 decimal places) Predetermined overhead per olding Depan abcation Dean Required 18 > 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. Deiph establishes bid prices that are 150% of total manufacturing cost, what bid prices would it have established for Job D-70 and Job C-2002 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 LA Required 18 Required 1C Required 10 Assume Delph uses departmental predetermined overhead rates based on machine-hour compute the total manufacturing cost assigned to Job D 70 and Job C-200. Round your intermediate calculations to 2 decimal place Round your final swers to nearest whole dollar amount Total montact COM D.TO Job C 200

Direct materials cost Direct labor cost Machine-hours Holding Fabrication Total $ 220,000 $ 220,000 $440,000 $120,000 $ 280,000 $400,000 12,000 19,000 31.000 Delph had no underapplied or overapplied manufacturing overhead during the year Required: 1. Assume Delphy 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 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-2002 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 1 Required 16 Required 10 Required 10 Astume Delph uses departmental predetermined overhead rates based on machine hours. What Delphs cost of goods sold For the year? (Round your intermediate calculations to 2 decimal places. Round your final answer to nearest whole dollar Famount Cast of goods sold

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

Excel Para Auditores Aplicando Excel A La Auditoria

Authors: Antonio P. Peralta C.

1st Edition

9945803697, 978-9945803693

More Books

Students also viewed these Accounting questions

Question

Identify the motives that fuel prejudice.

Answered: 1 week ago

Question

a. Describe the encounter. What made it intercultural?

Answered: 1 week ago