Answered step by step
Verified Expert Solution
Question
1 Approved Answer
this is all one question help please Delph Company uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the
this is all one question help please
Delph Company uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that 56,000 machine-hours would be required for the period's estimated level of production. It also estimated $1,040,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $4.00 per machine-hour Because Delph has two manufacturing departments --Molding and Fabricationit is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine- hours. The company gathered the following information to enable calculating departmental overhead rates: Molding Fabrication Machine-hours 23,000 33,000 Fixed manufacturing overhead cost $ 800,000 $ 240,000 Variable manufacturing overhead cost per machine-hour $ 4.00 $ 1.50 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 $ 370,000 $ 320,000 $ 690,000 Direct labor cost $ 200,000 $ 140,000 $ 340,000 Machine-hours 15,000 8,000 23,000 Molding Job C-200 Fabrication Total Direct materials cost $ 260,000 $ 260,000 $ 520,000 Direct labor cost $ 180,000 $ 280,000 $ 460,000 8,000 Machine-hours 25,000 33,000 Total 56,000 $ 1,040,000 1. Assume Delph uses plantwide predetermined overhead rates 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 1A Required 16 Required 1C Required 1D Assume Delph uses plantwide predetermined overhead rates 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. Round your final answers to the nearest whole dollar amount.) 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