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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 departmentsMolding 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 departmentsMolding and Fabrication. The company provided the following estimates at the beginning of the year. Molding Fabrication Total Machine-hours 24,000 34,000 58,000 Fixed manufacturing overhead costs $ 770,000 $ 270,000 $ 1,040,000 Variable manufacturing overhead per machine-hour $ 5.20 $ 5.20 During the year, the company had no beginning or ending Inventories and it started, completed, and sold only two jobsJob D-70 and Job C-200. It provided the following Information related to those two jobs: Job D-70: Molding Fabrication Total Direct materials cost $ 375,000 $ 320,000 $ 695,000 Direct labor cost $ 250,000 $ 170,000 $ 420,000 Machine-hours 16,000 8,000 24,000 Job C-200 Direct materials cost Direct labor cost Machine-hours Molding Fabrication Total $ 230,000 $ 260,000 $ 490,000 $ 110,000 $ 260,000 $ 370,000 8,000 26,000 34,000 Delph had no overapplied or underapplied manufacturing overhead during the year. Assume Delph 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 per MH 1-b. Compute the total manufacturing costs assigned to Job D-70 and Job C-200. (Round your intermediate calculations to 2 decimal places.) Total manufacturing cost Job D-70 Job C-200 1-c. If Delph establishes bid prices that are 130% of total manufacturing costs, what bid price would it have established for Job D-70 and Job C-200? (Round your intermediate calculations to 2 decimal places.) Bid price Job D-70 Job C-200 1-d. What is Delph's cost of goods sold for the year? (Round your intermediate calculations to 2 decimal places.) Cost of goods sold
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