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? Complete the question by entering your answers in the tabs given below. Required 1A Required 1B Required 1C Required 1D Assume Delph uses departmental predetermined overhead rates based on machine-hours. Compute the departmental predetermined overhead rates. (Round the final answers to 2 decimal places.) 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 Molding 24,000 $ 720,000 $ 4.00 Fabrication 32,000 $ 260,000 $ 2.00 Total 56,000 $ 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 Molding $ 370,000 $ 200,000 13,000 Molding Fabrication $ 320,000 $ 160,000 11,000 Total $690,000 $ 360,000 24,000 Total Direct materials cost Direct labor cost Machine-hours $ 260,000 $ 160,000 11,000 Fabrication $ 240,000 $ 280,000 21,000 $ 500,000 $ 440,000 32,000 Delph had no underapplied or overapplied manufacturing overhead during the year.. 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

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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?
Complete the question by entering your answers in the tabs given below.
Required 1A Required 1B Required 1C Required 1D
Assume Delph uses departmental predetermined overhead rates based on machine-hours. Compute the departmental
predetermined overhead rates. (Round the final answers to 2 decimal places.)
Transcribed Image Text: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? Complete the question by entering your answers in the tabs given below. Required 1A Required 1B Required 1C Required 1D Assume Delph uses departmental predetermined overhead rates based on machine-hours. Compute the departmental predetermined overhead rates. (Round the final answers to 2 decimal places.)
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
Molding
24,000
$ 720,000
$ 4.00
Fabrication
32,000
$ 260,000
$ 2.00
Total
56,000
$ 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
Molding
$ 370,000
$ 200,000
13,000
Molding
Fabrication
$ 320,000
$ 160,000
11,000
Total
$690,000
$ 360,000
24,000
Total
Direct materials cost
Direct labor cost
Machine-hours
$ 260,000
$ 160,000
11,000
Fabrication
$ 240,000
$ 280,000
21,000
$ 500,000
$ 440,000
32,000
Delph had no underapplied or overapplied manufacturing overhead during the year..
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
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 Molding 24,000 $ 720,000 $ 4.00 Fabrication 32,000 $ 260,000 $ 2.00 Total 56,000 $ 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 Molding $ 370,000 $ 200,000 13,000 Molding Fabrication $ 320,000 $ 160,000 11,000 Total $690,000 $ 360,000 24,000 Total Direct materials cost Direct labor cost Machine-hours $ 260,000 $ 160,000 11,000 Fabrication $ 240,000 $ 280,000 21,000 $ 500,000 $ 440,000 32,000 Delph had no underapplied or overapplied manufacturing overhead during the year.. 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
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