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[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
[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 costs Variable manufacturing overhead cost per machine-hour Holding 21,000 Fabrication 31,000 $780,000 $ 300,000 5.00 $ 1.00 Total 52,000 $1,000,000 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 Molding Fabrication Total $370,000 $320,000 $690,000 $200,000 $160,000 $360,000 7,000 21,000 14,000 Job C-2001 Direct materials cost Direct labor cost Machine-hours Molding Fabrication Total $ 280,000 $200,000 5 480,000 $ 100,000 $ 300,000 $400,000 7,000 24,000 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 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? Complete the question by entering your answers in the tabs given below. Req 1A Req 18 Req 1C Reg 1D Assume Delph uses a plantwide predetermined overhead rate based on machine-hours. Compute the plantwide predetermined overhead rate. (Round your answer to 2 decimal places.) Predetermined overhead rate per MH Req 18 >>
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