Smithson Company uses a job-order costing system and has two manufacturing departmentsMolding and Fabrication. The company provided the following estimates at the beginning of the year:

	Molding		Fabrication		Total
Machine-hours		22,000		32,000		54,000
Fixed manufacturing overhead costs	$	790,000	$	290,000	$	1,080,000
Variable manufacturing overhead per machine-hour	$	5.00	$	5.00

During the year, the company had no beginning or ending inventories and it started, completed, and sold only two jobsJob D-75 and Job C-100. It provided the following information related to those two jobs:

Job D-75:	Molding		Fabrication		Total
Direct materials cost	$	376,000	$	322,000	$	698,000
Direct labor cost	$	230,000	$	130,000	$	360,000
Machine-hours		17,000		5,000		22,000

Job C-100:	Molding		Fabrication		Total
Direct materials cost	$	300,000	$	300,000	$	600,000
Direct labor cost	$	180,000	$	260,000	$	440,000
Machine-hours		5,000		27,000		32,000

Smithson had no overapplied or underapplied manufacturing overhead during the year.

Assume Smithson uses a plantwide overhead rate based on machine-hours.

Required:

1-a. Compute the predetermined plantwide overhead rate. (Round your answer to 2 decimal places.)

1-b. Compute the total manufacturing costs assigned to Job D-75 and Job C-100. (Round your intermediate calculations to 2 decimal places.)

1-c. If Smithson establishes bid prices that are 120% of total manufacturing costs, what bid price would it have established for Job D-75 and Job C-100? (Round your intermediate calculations to 2 decimal places.)

1-d. What is Smithsons cost of goods sold for the year? (Round your intermediate calculations to 2 decimal places.)

[The following information applies to the questions displayed below.] Smithson Company uses a job-order costing system and has two manufacturing departmentsMolding and Fabrication. The company provided the following estimates at the beginning of the year. Molding Fabrication Total Machine-hours 22,000 32,000 54.000 Fixed manufacturing overhead costs 790,000 $ 290,000 $ 1,080,000 Variable manufacturing overhead per machine-hour 5.00 $ 5.00 During the year, the company had no beginning or ending Inventories and it started, completed, and sold only two jobs-Job D-75 and Job C-100. It provided the following Information related to those two Jobs: Job D-75 Direct materials cost Direct labor cost Machine-hours Molding Fabrication 376,000 $ 322,000 $ 230,000 $ 130,000 $ 17,000 5,000 $ Total 698,000 360,000 22.000 Job C-100 Direct materials cost Direct labor cost Machine-hours $ $ Molding Fabrication Total 300,000 $ 300,000 $600,000 180,000 $ 260,000 $440,000 5,000 27,000 32.000 Smithson had no overapplied or underapplied man uring overhead during the year