Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

[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

[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 Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Molding 20,000 $ 700,000 $ 3.00 Fabrication. 30,000 $ 210,000 $ 1.00 Total 50,000 $910,000 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-70: Direct materials cost Direct labor cost Machine-hours Job C-200 Direct materials cost Direct labor cost Machine-hours Molding $375,000 $ 200,000 14,000 Molding $300,000 $ 175,000 6,000 Fabrication $325,000 $ 160,000 6,000 Fabrication $ 250,000 $225,000 24,000 Total $ 700,000 $360,000 20,000 Total $550,000 $ 400,000 30,000 Delph had no underapplied or overapplied manufacturing overhead during the year. Exercise 2-15 (Static) Part 2 2. Assume Delph chooses to combine its departmental rates into 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 150% of total manufacturing costs, 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? Complete this question by entering your answers in the tabs below. Required 2A Required 281 Required 20 Required 201 Assume Delph chooses to combine its departmental rates into a plantwide predetermined overhead rate based on machine hours. Compute the plantwide predetermined overhead rate Predetermined overhead rate per MH Required 28 >

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

Cima Official Learning System Financial Operations

Authors: Jo Watkins

6th Edition

1856177912, 978-1856177917

More Books

Students also viewed these Accounting questions

Question

=+27-1 Describe operant conditioning.

Answered: 1 week ago