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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 Delphs cost of goods sold for the year? 2 Delph Company uses job-order costing with a plantwide prodetermined 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 $1.000.000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $4.00 per machine-hour Because Delph has two menufacturing 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 deportmental overhood rates: Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Molding Fabrication 780.000 54.00 $220,000 $3.50 53,000 $1,000,000 Job 0-78 Direct materials cost Direct labor cost Machine-hours Molding $370,000 $248,000 Fabrication $320,000 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 Total $698.00 $ 140,200 4,000 $300,000 21,000 Job - Direct materials materials cost Direct labor cost Machine-hours Delon had no anderappled or averapplied manufacturing overhead during the year, Molding Fabrication Total $220,000 $220,000 $188,000 $ 240,000 28,000 $440,000

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 Delphs cost of goods sold for the year? 2 Delph Company uses job-order costing with a plantwide prodetermined 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 $1.000.000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $4.00 per machine-hour Because Delph has two menufacturing 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 deportmental overhood rates: Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Molding Fabrication 780.000 54.00 $220,000 $3.50 53,000 $1,000,000 Job 0-78 Direct materials cost Direct labor cost Machine-hours Molding $370,000 $248,000 Fabrication $320,000 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 Total $698.00 $ 140,200 4,000 $300,000 21,000 Job - Direct materials materials cost Direct labor cost Machine-hours Delon had no anderappled or averapplied manufacturing overhead during the year, Molding Fabrication Total $220,000 $220,000 $188,000 $ 240,000 28,000 $440,000

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
Chapter9: Cost Accounting For Service Businesses, The Balanced Scorecard, And Quality Costs
Section: Chapter Questions
Problem 2E: Compute the profit or loss on the job in (a) dollars and (b) as a percentage of the bid...
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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 Delphs cost of goods sold for the year? 2 Delph Company uses job-order costing with a plantwide prodetermined 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 $1.000.000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $4.00 per machine-hour Because Delph has two menufacturing 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 deportmental overhood rates: Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Molding Fabrication 780.000 54.00 $220,000 $3.50 53,000 $1,000,000 Job 0-78 Direct materials cost Direct labor cost Machine-hours Molding $370,000 $248,000 Fabrication $320,000 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 Total $698.00 $ 140,200 4,000 $300,000 21,000 Job - Direct materials materials cost Direct labor cost Machine-hours Delon had no anderappled or averapplied manufacturing overhead during the year, Molding Fabrication Total $220,000 $220,000 $188,000 $ 240,000 28,000 $440,000
Transcribed Image Text: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 Delphs cost of goods sold for the year? 2 Delph Company uses job-order costing with a plantwide prodetermined 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 $1.000.000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $4.00 per machine-hour Because Delph has two menufacturing 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 deportmental overhood rates: Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Molding Fabrication 780.000 54.00 $220,000 $3.50 53,000 $1,000,000 Job 0-78 Direct materials cost Direct labor cost Machine-hours Molding $370,000 $248,000 Fabrication $320,000 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 Total $698.00 $ 140,200 4,000 $300,000 21,000 Job - Direct materials materials cost Direct labor cost Machine-hours Delon had no anderappled or averapplied manufacturing overhead during the year, Molding Fabrication Total $220,000 $220,000 $188,000 $ 240,000 28,000 $440,000
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