Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

sweeten company has no jobs in progress Required information (The following information applies to the questions displayed below.) Delph Company uses a job-order costing system

sweeten company has no jobs in progress
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 Pixed manufacturing overhead costs variable manufacturing overhead cost per machine-hour Molding Fabrication 21,000 31,000 $ 730,000 $ 240,000 $ 5.60 $ 5.60 Total 52,000 $ 970,000 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-701 Molding Fabrication Total Direct materiale cost $ 372,000 $ 323,000 $ 695.000 Direct labor cont $ 240,000 $ 170,000 $410,000 Machine-hours 16,000 5,000 21,000 cos Job C-2001 Direct materials cost Direct labor cost Machine-hours Molding Pabrication Total $ 250,000 $ 220,000 $470,000 $ 130,000 $ 230,000 $360,000 5,000 26,000 31,000 Delph had no underapplied or overapplied manufacturing overhead during the year. Required: 1. Assume Delph 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 Delph establishes bid prices that are 120% 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

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

Information Technologies In Accounting And Auditing A Post-Soviet Approach

Authors: Sergiy Ivakhnenkov

1st Edition

3639285395, 978-3639285390

More Books

Students also viewed these Accounting questions

Question

Explain all drawbacks of the application procedure.

Answered: 1 week ago

Question

Determine Leading or Lagging Power Factor in Python.

Answered: 1 week ago