! Required information [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: 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 $ 220,000 15,000 Molding Fabrication 320,000 $ 120,000 6,000 21,000 $ 720,000 $ 3.00 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: Total $ 690,000 $ 340,000 21,000 Fabrication 34,000 $ 200,000 $ 2.00 Job C-200 Fabrication $ 260,000 Direct materials cost Molding $ 300,000 $ 100,000 6,000 Total $ 560,000 $360,000 34,000 Direct labor cost Machine-hours $ 260,000 28,000 Delph had no underapplied or overapplied manufacturing overhead during the year. Total 55,000 $ 920,000 2. Assume Delph chooses to combine its departmental rates from requirement 1 into a plantwide predetermined overhead rate 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?
! Required information [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: 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 $ 220,000 15,000 Molding Fabrication 320,000 $ 120,000 6,000 21,000 $ 720,000 $ 3.00 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: Total $ 690,000 $ 340,000 21,000 Fabrication 34,000 $ 200,000 $ 2.00 Job C-200 Fabrication $ 260,000 Direct materials cost Molding $ 300,000 $ 100,000 6,000 Total $ 560,000 $360,000 34,000 Direct labor cost Machine-hours $ 260,000 28,000 Delph had no underapplied or overapplied manufacturing overhead during the year. Total 55,000 $ 920,000 2. Assume Delph chooses to combine its departmental rates from requirement 1 into a plantwide predetermined overhead rate 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?
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Required information
[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:
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
$ 220,000
15,000
Molding
Fabrication
320,000
$ 120,000
6,000
21,000
$ 720,000
$ 3.00
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:
Total
$ 690,000
$ 340,000
21,000
Fabrication
34,000
$ 200,000
$ 2.00
Job C-200
Fabrication
$ 260,000
Direct materials cost
Molding
$ 300,000
$ 100,000
6,000
Total
$ 560,000
$360,000
34,000
Direct labor cost
Machine-hours
$ 260,000
28,000
Delph had no underapplied or overapplied manufacturing overhead during the year.
Total
55,000
$ 920,000
2. Assume Delph chooses to combine its departmental rates from requirement 1 into a plantwide predetermined overhead rate 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?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F956b79d0-b8ff-4513-ab04-2143e5c531c4%2F05b27d15-242e-4954-8aee-76fdd2850916%2F1gw2l8k_processed.png&w=3840&q=75)
Transcribed Image Text:!
Required information
[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:
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
$ 220,000
15,000
Molding
Fabrication
320,000
$ 120,000
6,000
21,000
$ 720,000
$ 3.00
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:
Total
$ 690,000
$ 340,000
21,000
Fabrication
34,000
$ 200,000
$ 2.00
Job C-200
Fabrication
$ 260,000
Direct materials cost
Molding
$ 300,000
$ 100,000
6,000
Total
$ 560,000
$360,000
34,000
Direct labor cost
Machine-hours
$ 260,000
28,000
Delph had no underapplied or overapplied manufacturing overhead during the year.
Total
55,000
$ 920,000
2. Assume Delph chooses to combine its departmental rates from requirement 1 into a plantwide predetermined overhead rate 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?
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