[The following information applies to the questions displayed below.]

Smithson 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		30,000		40,000		70,000
Fixed manufacturing overhead costs	$	710,000	$	250,000	$	960,000
Variable manufacturing overhead per machine-hour	$	5.00	$	5.00

During the year, the company had no beginning or ending inventories and it started, completed, and sold only two jobsJob D-75 and Job C-100. It provided the following information related to those two jobs:

Job D-75:	Molding		Fabrication		Total
Direct materials cost	$	370,000	$	329,000	$	699,000
Direct labor cost	$	250,000	$	120,000	$	370,000
Machine-hours		21,000		9,000		30,000

Job C-100:	Molding		Fabrication		Total
Direct materials cost	$	210,000	$	280,000	$	490,000
Direct labor cost	$	110,000	$	250,000	$	360,000
Machine-hours		9,000		31,000		40,000

Smithson had no overapplied or underapplied manufacturing overhead during the year.

15.

value: 10.00 points

Required information

Assume Smithson 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.)

1-b. Compute the total manufacturing costs assigned to Job D-75 and Job C-100. (Round your intermediate calculations to 2 decimal places.)

1-c. If Smithson establishes bid prices that are 120% of total manufacturing costs, what bid price would it have established for Job D-75 and Job C-100? (Round your intermediate calculations to 2 decimal places.)

1-d. What is Smithsons cost of goods sold for the year? (Round your intermediate calculations to 2 decimal places.)

Assume Smithson uses departmental overhead rates based on machine-hours.

2-a. Compute the predetermined departmental overhead rates. (Round your answer to 2 decimal places.)

2-b. Compute the total manufacturing costs assigned to Job D-75 and Job C-100. (Round your intermediate calculations to 2 decimal places.)

2-c. If Smithson establishes bid prices that are 120% of total manufacturing costs, what bid price would it have established for Job D-75 and Job C-100? (Round your intermediate calculations to 2 decimal places.)

2-d. What is Smithsons cost of goods sold for the year? (Round your intermediate calculations to 2 decimal places.)