Homework Help is Here – Start Your Trial Now!
Business
Accounting
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: Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Job D-70 Direct materials cost Direct labor cost Machine-hours Molding $ 370,000 $ 200,000 13,000 Molding 25,000 $ 720,000 $ 4.00 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: Fabrication $ 320,000 $ 140,000 12,000 Molding $ 260,000 $ 140,000 12,000 Total $ 690,000 $ 340,000 25,000 Job C-200 Direct materials cost Total $ 480,000 Direct labor cost Machine-hours Fabrication $ 220,000 $ 280,000 21,000 $ 420,000 33,000 Delph had no underapplied or overapplied manufacturing overhead during the year. Fabrication 33,000 $ 280,000 $ 1.50 Total 58,000 $ 1,000,000 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?

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: Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Job D-70 Direct materials cost Direct labor cost Machine-hours Molding $ 370,000 $ 200,000 13,000 Molding 25,000 $ 720,000 $ 4.00 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: Fabrication $ 320,000 $ 140,000 12,000 Molding $ 260,000 $ 140,000 12,000 Total $ 690,000 $ 340,000 25,000 Job C-200 Direct materials cost Total $ 480,000 Direct labor cost Machine-hours Fabrication $ 220,000 $ 280,000 21,000 $ 420,000 33,000 Delph had no underapplied or overapplied manufacturing overhead during the year. Fabrication 33,000 $ 280,000 $ 1.50 Total 58,000 $ 1,000,000 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?

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter4: Accounting For Factory Overhead
Section: Chapter Questions
Problem 9P: Channel Products Inc. uses the job order cost system of accounting. The following is a list of the...
See similar textbooks
icon
Related questions
Topic Video
Question

4

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: Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Job D-70 Direct materials cost Direct labor cost Machine-hours Molding $ 370,000 $ 200,000 13,000 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: Molding 25,000 $ 720,000 $ 4.00 Fabrication $ 320,000 $ 140,000 12,000 Molding $ 260,000 $ 140,000 12,000 Total $ 690,000 $ 340,000 25,000 Job C-200 Direct materials cost Fabrication $ 220,000 Direct labor cost Machine-hours $ 280,000 21,000 Delph had no underapplied or overapplied manufacturing overhead during the year. Fabrication 33,000 $ 280,000 $ 1.50 Total $ 480,000 $ 420,000 33,000 Total 58,000 $ 1,000,000 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 vear?
Transcribed Image Text: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: Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Job D-70 Direct materials cost Direct labor cost Machine-hours Molding $ 370,000 $ 200,000 13,000 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: Molding 25,000 $ 720,000 $ 4.00 Fabrication $ 320,000 $ 140,000 12,000 Molding $ 260,000 $ 140,000 12,000 Total $ 690,000 $ 340,000 25,000 Job C-200 Direct materials cost Fabrication $ 220,000 Direct labor cost Machine-hours $ 280,000 21,000 Delph had no underapplied or overapplied manufacturing overhead during the year. Fabrication 33,000 $ 280,000 $ 1.50 Total $ 480,000 $ 420,000 33,000 Total 58,000 $ 1,000,000 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 vear?
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 6 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Performance measurements
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Cost Accounting
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
College Accounting, Chapters 1-27
College Accounting, Chapters 1-27
Accounting
ISBN:
9781337794756
Author:
HEINTZ, James A.
Publisher:
Cengage Learning,
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS