!Required informationRequired: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 andJob 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 1ARequired 1BRequired 1CRequired 1DAssume Delph uses departmental predetermined overhead rates based on machine-hours. Compute the departmentalpredetermined overhead rates. (Round the final answers to 2 decimal places.)Predetermined overheadratesMolding DepartmentFabrication Departmentper MHper MH< Required 1ARequired 1B > !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. Thecompany provided the following estimates at the beginning of the year:Molding25,000$ 760,000$ 5.00FabricationTotal56,000$ 1,040,000Machine-hours31,000Fixed manufacturing overhead costVariable manufacturing overhead cost per machine-hour$ 280,000$ 1.50During 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:Molding$ 370,000$ 220,000Job D-70FabricationTotal$ 320,000$ 140,0009,000$ 690,000$ 360,000Direct materials costDirect labor costMachine-hours16,00025,000Molding$ 300,000$ 160,0009,000Job C-200FabricationTotal$ 240,000$ 240,00022,000$ 540,000$ 400,00031,000Direct materials costDirect labor costMachine-hoursDelph had no underapplied or overapplied manufacturing overhead during the year.

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Assume Delph uses departmental predetermined overhead rates based on machine-hours. Compute the departmental predetermined overhead rates. Compute the total manufacturing cost assigned to Job D-70 and Job C-200. If Delph establishes bid prices that are 150% of total manufacturing cost, what bid prices would it have established for Job D ob C-200? What is Delph's cost of goods sold for the year?

Assume Delph uses departmental predetermined overhead rates based on machine-hours. Compute the departmental predetermined overhead rates. Compute the total manufacturing cost assigned to Job D-70 and Job C-200. If Delph establishes bid prices that are 150% of total manufacturing cost, what bid prices would it have established for Job D ob C-200? What is Delph's cost of goods sold for the year?

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter5: Process Cost Accounting—general Procedures

Section: Chapter Questions

Problem 7E: The records of Stone Inc. reflect the following data: Work in process, beginning of month4,000 units...

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Davis Co. uses backflush costing to account for its manufacturing costs. The trigger points are the purchase of materials, the completion of goods, and the sale of goods. Prepare journal entries to account for the following: a. Purchased raw materials, on account, 70,000. b. Requisitioned raw materials to production, 70,000. c. Distributed direct labor costs, 15,000. d. Factory overhead costs incurred, 45,000. (Use Various Credits for the account in the credit part of the entry.) e. Completed all of the production started. f. Sold the completed production for 195,000, on account. (Hint: Use a single account for raw materials and work in process.)
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