Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Saves Required information [The following information applies to the questions displayed below.) Deiph Company uses a job-order costing system and has two manufacturing departments-Molding and
Saves Required information [The following information applies to the questions displayed below.) Deiph 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 Molding Fabrication Total 25.ee Fixed manufacturing overhead cost 34, eee 59,00e $760, eee Variable manufacturing overhead cost per machine-hour $ 220,000 $ 980,cee $ 3.00 5 2.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 Fabrication Total Direct materials cast $ 370,eee $ 320, eee $ 690, eee Direct labor cost $ 2ee.eee $ 160, eee S 360,000 Machine-hours 15, eee 10, 25,000 Job C-200 Direct materials cast Direct labor cost Machine-hours Molding $ 260,000 $ 140,000 10, eee Fabrication $ 220, $ 300,eee 24,000 Total $ 480,000 $ 440, eee 34, see 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-200? d. What is Delph's cost of goods sold for the year
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started