Exercise 2-15 (Algo) Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO2-1, LO 2-2, LO2-3, LO2-4] Skip to question [The following information applies to the questions displayed below.] Delph Company uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that 53,000 machine-hours would be required for the period's estimated level of production. It also estimated $980,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $5.00 per machine-hour. Because Delph has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following information to enable calculating departmental overhead rates: Molding Fabrication Total Machine - hours 23,000 30,000 53,000 Fixed manufacturing overhead cost $ 740,000 $240, 000 $ 980,000 Variable manufacturing overhead cost per machine-hour $ 5.00 $2.00 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: Job D-70 Molding Fabrication Total Direct materials cost $ 370,000 $320, 000 $ 690,000 Direct labor cost $ 220,000 $140,000 $360,000 Machine - hours 15,000 8,000 23,000 Job C-200 Molding Fabrication Total Direct materials cost $ 260,000 $ 240,000 $ 500,000 Direct labor cost $ 140,000 $ 220,000 $360,000 Machine - hours 8,000 22,000 30,000 Delph had no underapplied or overapplied manufacturing overhead during the year. Exercise 2-15 (Algo) Part 1 Required: 1. Assume Delph uses plantwide predetermined overhead rates based on 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 and Job C-200? d. What is Delph's cost of goods sold for the year?