! Required information [The following information applies to the questions displayed below.] Delph Company uses a job-or

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Required Information The Following Information Applies To The Questions Displayed Below Delph Company Uses A Job Or 1 (49.2 KiB) Viewed 18 times

! 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 Job C-200 Direct materials cost Direct labor cost. Machine-hours Molding $ 370,000 $ 220,000 16,000 Molding 25,000 $ 780,000 $4.00 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: Fabrication $ 320,000 $ 160,000 9,000 Total $ 690,000 $ 380,000 25,000 Fabrication $ 280,000 Total $ 540,000 Molding $ 260,000 $ 140,000 9,000 $ 260,000 25,000 $ 400,000 34,000 Delph had no underapplied or overapplied manufacturing overhead during the year. Fabrication 34, 000 $ 240,000 $ 2.00 Total 59,000 $ 1,020,000 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?