Assume Delph uses departmental predetermined overhead rates based on machine-hours. Compute the departmental predetermined overhead rates. Compute the total manufacturing cost assigned to Job D-70 and Job C-200. If Delph establishes bid prices that are 150% of total manufacturing cost, what bid prices would it have established for Job D ob C-200? What is Delph's cost of goods sold for the year?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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 prices that are 150% of total manufacturing cost, 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 1B
Required 1C
Required 1D
Assume Delph uses departmental predetermined overhead rates based on machine-hours. Compute the departmental
predetermined overhead rates. (Round the final answers to 2 decimal places.)
Predetermined overhead
rates
Molding Department
Fabrication Department
per MH
per MH
< Required 1A
Required 1B >
Transcribed Image Text:! Required information 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 prices that are 150% of total manufacturing cost, 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 1B Required 1C Required 1D Assume Delph uses departmental predetermined overhead rates based on machine-hours. Compute the departmental predetermined overhead rates. (Round the final answers to 2 decimal places.) Predetermined overhead rates Molding Department Fabrication Department per MH per MH < Required 1A Required 1B >
!
Required information
[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:
Molding
25,000
$ 760,000
$ 5.00
Fabrication
Total
56,000
$ 1,040,000
Machine-hours
31,000
Fixed manufacturing overhead cost
Variable manufacturing overhead cost per machine-hour
$ 280,000
$ 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:
Molding
$ 370,000
$ 220,000
Job D-70
Fabrication
Total
$ 320,000
$ 140,000
9,000
$ 690,000
$ 360,000
Direct materials cost
Direct labor cost
Machine-hours
16,000
25,000
Molding
$ 300,000
$ 160,000
9,000
Job C-200
Fabrication
Total
$ 240,000
$ 240,000
22,000
$ 540,000
$ 400,000
31,000
Direct materials cost
Direct labor cost
Machine-hours
Delph had no underapplied or overapplied manufacturing overhead during the year.
Transcribed Image Text:! Required information [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: Molding 25,000 $ 760,000 $ 5.00 Fabrication Total 56,000 $ 1,040,000 Machine-hours 31,000 Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour $ 280,000 $ 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: Molding $ 370,000 $ 220,000 Job D-70 Fabrication Total $ 320,000 $ 140,000 9,000 $ 690,000 $ 360,000 Direct materials cost Direct labor cost Machine-hours 16,000 25,000 Molding $ 300,000 $ 160,000 9,000 Job C-200 Fabrication Total $ 240,000 $ 240,000 22,000 $ 540,000 $ 400,000 31,000 Direct materials cost Direct labor cost Machine-hours Delph had no underapplied or overapplied manufacturing overhead during the year.
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