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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 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: Molding 32,000 Fabrication 42,000 250,000 $ Total 74.000 Machine-hours Fixed manufacturing overhead costs Variable manufacturing overhead per machine-hour $ 700,000 $ 950,000 $ 5.60 $ 5.60 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: Molding Fabrication Total Direct materials cost $ 372,000 $ 322,000 $694,000 Direct labor cost $ 210,000 $ 150,000 $360,000 Machine-hours 24,000 8,000 32,000 Job C-200: Direct materials cost Direct labor cost Machine-hours Molding Fabrication Total $ 260,000 $ 240,000 $500,000 $ 170,000 $ 290,000 $ 460,000 8,000 34,000 42,000 Delph had no overapplied or underapplied manufacturing overhead during the year. 4. value 20.00 points Required infor 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 $ 18.44 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 $ 1,644,011 $ 1,734,389 Job D-70 Job C-200 ezto.mheducation.com 1-c. If Delph establishes bid prices that are 140% 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 $ 2,301,615 Job D-70 Job C-200 $ 2,428,145 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 $ 3,378,400 References eBook & Resources Worksheet Learning Objective: 02- 01 Compute a predetermined overhead rate, Learning Objective: 02-03 Compute the total cost and average cost per unit of a job. Difficulty: 2 Medium Learning Objective: 02- 02 Apply overhead cost to jobs using a predetermined overhead rate. Check my work 2-a. Compute the predetermined departmental overhead rates. (Round your answer to 2 decimal places.) Predetermined overhead rates $ 27.48 per MH Molding Department Fabrication Department $ 11.55 per MH 2-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 $ 1,805,819 Job D-70 Job C-200 $ 1,572,581 2-c. If Delph establishes bid prices that are 140% 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 $ 2,528,147 Job C-200 $ 2,201,613 2-d. What is Delph's cost of goods sold for the year? (Round your intermediate calculations to 2 decimal places.) Cost of goods sold $ 3,378,400
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