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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: Total 62,000 290,000 $1,080,000 Molding 26,000 Fabrication 36,000 Machine-hours $790,000 Fixed manufacturing overhead costs $ $ 5.80 $ 5.80 Variable manufacturing overhead per machine-hour 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: Molding $ 376,000 $322,000 $698,000 $ 210,000 $ 170,000 $ 380,000 17,000 Total Job D-70: Fabrication Direct materials cost Direct labor cost 9,000 26,000 Machine-hours Total Job C-200: Molding $ 230,000 $ 230,000 $ 460,000 $130,000 $ 290,000 $ 420,000 9,000 Fabrication Direct materials cost Direct labor cost Machine-hours 27,000 36,000 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 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 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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