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 Pixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Molding Fabrication Total 21,000 33,000 54,000 $720,000 $ 280,000 $1,000,000 $ 4.00 $ 1.00 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 $220,000 $ 160,000 $380,000 17,000 4,000 21,000 Job C-200 Direct materials cost Direct labor cost Machine-hours Molding Fabrication Total $220,000 $ 240,000 $460,000 $140,000 $ 240,000 $380,000 4,000 29,000 33,000 Delph had no underapplied or overapplied manufacturing overhead during the year. 2. Assume Delph chooses to combine its departmental rates from requirement 1 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 the question by entering your answers in the tabs given below. Required 2A Required 2B Required 20 Required 2D Assume Delph chooses to combine its departmental rates from requirement 1 into 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 Required 2A Required 28 > Required 2A Required 2B Required 20 Required 2D Assume Delph chooses to combine its departmental rates from requirement 1 into a plantwide predetermined overhead rate based on machine-hours. Compute the total manufacturing cost 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 Complete the question by entering your answers in the tabs given below. Required 2A Required 2B Required 2c Required 2D Assume Delph chooses to combine its departmental rates from requirement 1 into a plantwide predetermined overhead rate based on machine-hours. 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? (Round your intermediate calculations to 2 decimal places.) Bid price Job D-70 Job C-200 Required 2A Required 2B Required 2C Required 2D Assume Delph chooses to combine its departmental rates from requirement 1 into a plantwide predetermined overhead rate based on machine-hours. What is Delph's cost of goods sold for the year? (Round your intermediate calculations to 2 decimal places.) Cost of goods sold

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Students also viewed these Accounting questions