Answered step by step
Verified Expert Solution
Question
1 Approved Answer
THE NUWWW) Wormation applies to the questions displayed below] Delph Company uses a job-order costing system and has two manufacturing departments-Molding and Fabrication The
THE NUWWW) Wormation 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 Fixed manufacturing overhead cost Verlable sanufacturing overhead cost per machine-hour Holding 22,000 $800,000 $5.00 Fabrication 33,000 $240,00 Total $1,040,000 55,000 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 Direct materials cost Direct labor cost Machine hours Jen C-200 Direct materials cost Direct labor cost Machine-hours Holding $370,000 $220,000 15,000 Fabrication $ 320,000 $140,000 7,000 $690,000 $360,000 22,000 $ 240,000 $160,000 $220,000 $280,000 Total $460,000 $440,000 7,000 26,000 molding Delph had no underapplied or overapplied manufacturing overhead during the year. Required: 1. Assume Delph uses departmental predetermined overhead rates based on machine-hours a. Compute the departmental predetermined overhead rates b. Compute the total manufacturing cost assigned to Job D.70 and Job C-200 c. If Delph establishes bid pnces that are 150% of total manufacturing cost, what bid prices would it have established for Job D-70 and Job C-2007 d What is Delph's cost of goods sold for the year?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started