Use the sub navigation below to navigate within this series 1 2 answer & continue The following information applies to the questions displayed below) Smithson 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 Fabrication Molding 26,000 $ 710000 5.00 Total 62.000 $ 960,000 Machine-hours Fixed manufacturing overhead costs Veriable manufecturing overhead per machine-hour 36.000 $ 250000 5.00 During the year, the company had no beginning or ending inventories and it started, completed, and sold only two jobs-Job D-75 and Job C-100. t provided the following information related to those two jobs Job D-75 Direct materials cost Direct labor cost Machine-hours Molding 371000 $ 329000 $ 700,000 $ 240000 $ 120,000 $ 360,000 19.000 Fabrication Total 7,000 26,000 Job C100 Direct materials cost Direct labor cost Machine-hours Fabrication Molding $ 150.000 $ Total 280,000 $490,000 230000 $38o.000 36,000 210000 S 7000 29,000 Smithson had no overapplied or underapplied manufacturing overhead during the year value 10.00 points 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.) per MH value 10.00 points 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) Predetermined overhead rate per MH 1-b. Compute the total manufacturing costs assigned to Job D-75 and Job C-100. (Round your intermediate calculations to 2 decimal places.) Total manufacturing cost Job D-75 Job C-100 1. 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-1007 (Round you Bid price Job D-75 Job C-100 1-d. What is Smithson's cost of goods sold for the year? (Round your intermediate calculations to 2 decimal places) Cost of goods sold eBook & Resources References eheat Leaming Ojective 04-01 Compue a pre Worksheet Leaming Otoetive 0402 Apply ovehead otto Difeulty: 2 Medium