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

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
[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 Molding Fabricatiap Total 21,00 Fixed manufacturing overhead cost 35,00 56,000 5.740,000 5 280,000 $ 1.020,000 Variable manufacturing overhead cost per machine-houn $3.00 $ 1.50 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 D76 molding Fabrication Total Direct materials cost $ 370,000 $ 320,000 $ 690,000 Direct Inbor cost 5 220,000 $ 180,000 $400,000 6.000 21.000 Machine-hours 15,000 Job C-200 Molding Fabrication Total Direct materials cost $ 240,000 $ 280,000 $ 520,000 Direct Labor cost $ 120,000 $ 220,000 $ 340,000 Machine-hours 5.000 29.000 35,000 Delph had no underapplied or overapplied manufacturing overhead during the year Required: 1 Assume Delph uses departmental predetermined overhead rates based on machine-hours a Compute the departmental predetermined overhead rates b. Compute the total manufacturing cost assigned to Job D-70 and Job C-200 ci 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-2002 d What is Delph's cost of goods sold for the year? Machine-hours 6,090 29,000 35,000 Delph had no underapplied or overapplied manufacturing overhead during the year. Required: 1. Assume Delph uses departmental predetermined overhead rates based on machine-hours. a. Compute the departmental predetermined overhead rates. 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 establ. Job C 2002 d. What is Delph's cost of goods sold for the year? Complete the question by entering your answers in the tabs given below. Required 1A Required 18 Required 10 Required 10 Assume Delph uses departmental predetermined overhead rates based on machine hours. Compute the departmental predetermined overhead rates. (Round the final answers to 2 decimal places.) Molding Department Fabrication Department Predetermined overhead tato per MH por MH Required 18 > Machine-hours 6,098 29,000 35,000 Delph had no underapplied or overapplied manufacturing overhead during the year. Required: 1. Assume Delph uses departmental predetermined overhead rates based on machine-hours. a. Compute the departmental predetermined overhead rates 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 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. nces Required 1A Required 18 Required IC Required 10 Assume Delph uses departmental predetermined overhead rates based on machine-hours. Compute the total manufacturing cost assigned to Job D yo and Job C-200. (Round your intermediate calculations to 2 decimal places. Round your final answers to nearest whole dollar amount.) Total manufacturing Job D-70 Job C 200 1. Assume Delph uses departmental predetermined overhead rates based on machine-hours. a. Compute the departmental predetermined overhead rates. 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 establish 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. Required 1A Required 1B Required 1d Required 1D Assume Delph uses departmental predetermined overhead rates based on machine-hours. If Delph establishes bid prices tha are 150% of total manufacturing cost, what bid prices would it have established for Job D-70 and Job C-2007 (Round your Intermediate calculations to 2 decimal places. Round your final answers to nearest whole dollar amount Did price Job D-70 Job C200 Complete the question by entering your answers in the tabs given below. Required 1A Required 16 Required 1c Required 10 Assume Delph uses departmental predetermined overhead rates based on machine-hours. What is Delph's cost of goods sold for the year? (Round your intermediate calculations to 2 decimal places. Round your final answer to nearest whole dollar famount. Cost of goods sold

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

Case Studies In Strategic ManagementHow Executive Input Enables Students Development

Authors: Gunther Friedl, Andreas Biagosch

1st Edition

3319955543, 9783319955544

More Books

Students also viewed these Accounting questions