Delph Company uses a job-order costing system and has two manufacturing departments-Molding and Fabrication. Thecompany provided the following estimates at the beginning of the year:Machine-hoursFixed manufacturing overhead costVariable manufacturing overhead cost per machine-hourJob D-70Direct materials costDirect labor costMachine-hoursJob C-200Direct materials costDirect labor costMachine-hoursDuring 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$ 220,00013,000Molding$ 240,000$ 160,00010,000Molding23,000$ 780,000$ 3.00Fabrication$ 320,000$ 180,00010,000Total$ 690,000$ 400,00023,000Fabrication$ 240,000Total$ 480,000$ 280,00025,000$ 440,00035,000Delph had no underapplied or overapplied manufacturing overhead during the year.Fabrication35,000$ 240,000$1.50Total58,000$ 1,020,0002. Assume Delph chooses to combine its departmental rates from requirement 1 into a plantwide predetermined overhead rate basedon 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 andJob C-200?d. What is Delph's cost of goods sold for the year?

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Description: Delph Company uses a job-order costing system and has two manufacturing departments-Molding and Fabrication. Thecompany provided the following estimates at the beginning of the year:Machine-hoursFixed manufacturing overhead costVariable manufacturin

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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: Job D-70 Direct materials cost Direct labor cost Machine-hours Job C-200 Direct materials cost Direct labor cost Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour 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 13,000 Molding $ 240,000 $ 160 000 Fabrication $ 320,000 $ 180,000 10,000 Molding Fabrication $ 240,000 $ 280 000 23,000 $ 780,000 $ 3.00 Total $ 690,000 $ 400,000 23,000 Fabrication 35,000 $ 240,000 $ 1.50 Total $ 480,000 $ 440 000 Total 58,000 $ 1,020,000

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: Job D-70 Direct materials cost Direct labor cost Machine-hours Job C-200 Direct materials cost Direct labor cost Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour 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 13,000 Molding $ 240,000 $ 160 000 Fabrication $ 320,000 $ 180,000 10,000 Molding Fabrication $ 240,000 $ 280 000 23,000 $ 780,000 $ 3.00 Total $ 690,000 $ 400,000 23,000 Fabrication 35,000 $ 240,000 $ 1.50 Total $ 480,000 $ 440 000 Total 58,000 $ 1,020,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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