[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:Molding22,000$ 720,000$ 4.00FabricationTotalMachine-hoursFixed manufacturing overhead costVariable manufacturing overhead cost per machine-hour32,000$ 220,000$ 1.5054,000$ 940,000During the year, the company had no beginning or ending inventories and it started, completed, and sold only twojobs-Job D-70 and Job C-200. It provided the following information related to those two jobs:Molding$ 370,000$ 220,00013,000Job D-70Direct materials costFabricationTotalDirect labor costMachine-hours$ 320,000$ 180,000$ 690,000$ 400,00022,0009,000Molding$ 300,000$ 140,000Job C-200FabricationTotal$ 280,000$ 240,00023,000$ 580,000$ 380,00032, 00өDirect materials costDirect labor costMachine-hours9,000Delph had no underapplied or overapplied manufacturing overhead during the year. Complete the question by entering your answers in the tabs given below.Required 1ARequired 1BRequired 1CRequired 1DAssume Delph uses departmental predetermined overhead rates based on machine-hours. What is Delph's cost of goods soldfor the year? (Round your intermediate calculations to 2 decimal places. Round your final answer to nearest whole dollaramount.)Cost of goods sold

Cost of Goods Sold = Opening Inventory + Direct Material + Direct Labour + Manufacturing Overhead -…

Answered: Delph Company uses a job-order costing…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Hultquist Corporation has two manufacturing departments--Forming and Customizing. The company used the following data at the beginning of the period to calculate predetermined overhead rates: Customizing Forming 7, 000 $ 25,900 $ 2.50 Total Estimated total machine-hours (MHs) Estimated tot al fixed manufacturing overhead cost Estimated variable manufacturing overhead cost per MH 3, 000 $ 7, 200 $ 5.00 10, 000 $ 33,100 During the period, the company started and completed two jobs-Job C and Job L. Data concerning those two jobs follow: Job C Job L $ 16,900 $ 10,300 $ 23,600 $ 10, 600 Direct materials Direct labor cost Forming machine-hours Customizing machine-hours 1,250 1,250 5,750 1,750 Required: a. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours. Calculate that overhead rate. (Round your answer to 2 decimal places.) b. Assume that the company uses a plantwide predetermined manufacturing overhead rate based on machine-hours.…
The following is a manufacturing cost report of Marching Ants Inc. Marching Ants Inc. Manufacturing Costs For the Quarter Ended June 30 Costs Type Amount Materials used in production (including $60,500 of indirect materials) $653,300 Direct labor (including $90,700 maintenance salaries) 604,900 Factory overhead: Supervisor salaries—plant 556,500 Heat, light, and power—plant 151,200 Sales salaries 375,000 Promotional expenses 338,700 Insurance and property taxes—plant 163,300 Insurance and property taxes—corporate offices 235,900 Depreciation—plant and equipment 133,100 Depreciation—corporate offices 96,800 Total $3,308,700 Question Content Area a. 1. Select the correct sentence for errors in the preceding report. 1. The maintenance salaries of $90,700 and indirect materials of $60,500 should be included as factory overhead. 2. The indirect materials of $60,500 should be included as factory overhead. 3. The maintenance salaries of $90,700 should be included as…
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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…
Taveras Corporation is currently operating at 50% of its available manufacturing capacity. It uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Required: 190,000 $ 3,420,000 $ 2.00 1. Compute the plantwide predetermined overhead rate. 2. During the year, Job P90 was started, completed, and sold to the customer for $3,000. The following information was available with respect to this job: Direct materials $ 1,380 Direct labor cost Machine-hours used $ 990 77
Pink Company incurred the following costs during the month: direct labor, P120,000; factory overhead, P108,000, and direct materials purchases, P160,000 inventories show the following costs: Beginning Ending Finished goods P27,000 P30,000 Work in process P61,500 P57,500 Direct materials P37,500 P 43,500 How much is the cost of goods manufactured?
Wilmington Company has two manufacturing departments-Assembly and Fabrication. It considers all of its manufacturing overhead costs to be fixed costs. The first set of data that is shown below is based on estimates from the beginning of the year. The second set of data relates to one particular job completed during the year-Job Bravo. Estimated Data Manufacturing overhead costs Direct labor-hours Machine-hours Job Bravo Direct labor-hours Machine-hours Assembly $ 600,000 50,000 20,000 Assembly Fabrication 11 3 3 6 Total 14 9 1. Plantwide manufacturing overhead applied to Job Bravo 2. Manufacturing overhead applied from Assembly to Job Bravo 2. Manufacturing overhead applied from Fabrication to Job Bravo 2. Total departmental manufacturing overhead applied to Job Bravo Fabrication $ 800,000 30,000 100,000 Total $ 1,400,000 80,000 120,000 Required: 1. If Wilmington used a plantwide predetermined overhead rate based on direct labor-hours, how much manufacturing overhead would be applied…
Kunkel Company makes two products and uses a conventional costing system in which a single plantwide predetermined overhead rate is computed based on direct labor - hours. Data for the two products for the upcoming year follow: Mercon Wurcon Direct materials cost per unit $ 12.00 $ 9.00 Direct labor cost per unit $ 15.00 $ 17.00 Direct labor - hours per unit 0.50 3.25 Number of units produced 2,000 4,000 These products are customized to some degree for specific customers. Required: 1. The company's manufacturing overhead costs for the year are expected to be $560,000. Using the company's conventional costing system, compute the unit product costs for the two products. 2. Management is considering an activity - based costing system in which half of the overhead would continue to be allocated on the basis of direct labor - hours and half would be allocated on the basis of engineering design time. This time is expected to be distributed as follows during the upcoming year: Mercon Wurcon…

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