Answer Happy

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: Total Machine-hours Molding 21,000 55,000 Fixed manufacturing overhead cost Fabrication 34,000 $ 220,000 $1.00 $ 980,000 $.760,000 $ 3.00 Variable manufacturing overhead cost per machine-hour 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 Molding $ 370,000 $ 220,000 14,000 Fabrication $ 320,000 $140,000 Total $ 690,000 $360,000 21,000 Direct labor cost Machine-hours 7,000 Dob C-200 Fabrication Direct materials cost Holding $ 300,000 $ 220,000 Direct labor cost Machine-hours Total $ 520,000 $360,000 34,000 $ 140,000 7,000 $ 220,000 27,000 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 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 18 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.) Predetermined overhead rates Molding Department per MH Fabrication Department per MH Required 18 >
Required LA Required 18 Required 1C Required 1D Assume Delph uses departmental predetermined overhead rates based on machine-hours. Compute the total manufacturing cost assigned to Job D-70 and Job C-200. (Round your intermediate calculations to 2 decimal places. Round your final answers to nearest whole dollar amount.) Total manufacturing cost Job D-70 Job C-200
Complete the question by entering your answers in the tabs given below. Required 1A Required 18 Required 1C Required 1D Assume Delph uses departmental predetermined overhead rates based on machine-hours. What is Delph's cost of goods sold for the year? (Round your intermediate calculations to 2 decimal places. Round your final answer to nearest whole dollar amount.) Cost of goods sold <Required 1C
Complete the question by entering your answers in the tabs given below. Required 1A Required 18 Required 1C Required 1D Assume Delph uses departmental predetermined overhead rates based on machine-hours. 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? (Round your intermediate calculations to 2 decimal places. Round your final answers to nearest whole dollar amount.) Bid price Job D-70 Job C-200
Osborn Manufacturing uses a predetermined overhead rate of $18.80 per direct labor-hour. This predetermined rate was based on a cost formula that estimates $236,880 of total manufacturing overhead for an estimated activity level of 12,600 direct labor-hours. The company actually incurred $233,000 of manufacturing overhead and 12,100 direct labor-hours during the period. Required: 1. Determine the amount of underapplied or overapplied manufacturing overhead for the period. 2. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Would the journal entry to dispose of the underapplied or overapplied overhead increase or decrease the company's gross margin? By how much? by 1. Manufacturing overhead 2. The gross margin would by