Exercise 4-15 Plantwide and Departmental Overhead Rates; Job Costs [LO4-1, LO4-2, LO4-3] [The following information applies to the questions displayed below.] Smithson 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: Molding Fabrication 32,000 42,000 740,000 $ 290,000 5.00 $ 5.00 Machine-hours Fixed manufacturing overhead costs Variable manufacturing overhead per machine-hour Job D-75: Direct materials cost Direct labor cost Machine-hours 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: Molding Fabrication 374,000 $ 326,000 $ 240,000 $ 140,000 $ 24,000 8,000 Job C-100: Direct materials cost Direct labor cost Machine-hours $ $ Molding $ 210,000 $ $ 160,000 $ 8,000 LA LA $ $ Total 700,000 380,000 32,000 Fabrication Total 230,000 $440,000 240,000 $400,000 34,000 42,000 Total 74,000 $ 1,030,000 Exercise 4-15 Part 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.) Predetermined overhead rate 1-b. Compute the total manufacturing costs assigned to Job D-75 and Job C-100. (Round your intermediate calculations to 2 decimal places.) S 18.24 per MH *****... Job D-75 $ Job C-100 : $ Total manufacturing cost Job D-75 Job C-100 1.663.680 wwwwwwww 848,000: 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.) Bid price $ 1,996,416 $ 1,017,600: www******** ********... 1-d. What is Smithson's cost of goods sold for the year? (Round your intermediate calculations to 2 decimal places.) .... Cost of goods sold $ 2,511,680: ***************