!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. Thecompany provided the following estimates at the beginning of the year:Molding25,000$ 760,000$ 5.00FabricationTotal56,000$ 1,040,000Machine-hours31,000Fixed manufacturing overhead costVariable manufacturing overhead cost per machine-hour$ 280,000$ 1.50During 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$ 220,000Job D-70FabricationTotal$ 320,000$ 140,0009,000$ 690,000$ 360,000Direct materials costDirect labor costMachine-hours16,00025,000Molding$ 300,000$ 160,0009,000Job C-200FabricationTotal$ 240,000$ 240,00022,000$ 540,000$ 400,00031,000Direct materials costDirect labor costMachine-hoursDelph had no underapplied or overapplied manufacturing overhead during the year. 2. 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?Complete the question by entering your answers in the tabs given below.Required 2ARequired 2BRequired 20Required 2DAssume Delph chooses to combine its departmental rates from requirement 1 into a plantwide predetermined overhead ratebased on machine-hours. Compute the plantwide predetermined overhead rate. (Round your answer to 2 decimal places.)Predetermined overhead rateper MHRequired 2ARequired 2B>

Total machine hours=Molding+Fabrication=25,000+31,000=56,000

Answered: Delph Company uses a job-order costing…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Help [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. Th company provided the following estimates at the beginning of the year: Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Molding 24,000 $ 760,000 $ 3.00 Fabrication 33,000 $ 220,000 $ 2.00 Total 57,000 $ 980,000 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: Job D-70 Direct materials cost Direct labor cost Machine-hours Job C-200 Direct materials cost Direct labor cost Machine-hours Total $ 690,000 $ 380,000 24,000 Molding $ 370,000 $ 200,000 15,000 Fabrication $ 320,000 $ 180,000 9,000 Molding $ 200,000 $ 100,000 9,000 $ 200,000 $ 400,000 $ 260,000 24,000 $ 360,000 33,000 Fabrication Total…
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