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: Molding 21,000 $ 740,000 $ 3.00 Fabrication 34,000 $ 200,000 $ 1.50 Total 55,000 $ 940,000 Machine-hours Fixed manufacturing overhead cost 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: Molding $ 370,000 $ 200,000 16,000 Fabrication $ 320,000 $ 180,000 5,000 Job D-70 Direct materials cost Total $ 690,000 $ 380,000 21,000 Direct labor cost Machine-hours Job C-200 Direct materials cost Direct labor cost Machine-hours Molding $ 220,000 $ 140,000 5,000 Fabrication $ 280,000 $ 240,000 29,000 Total $ 500,000 $ 380,000 34,000 Delph had no underapplied or overapplied manufacturing overhead during the year. 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?
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: Molding 21,000 $ 740,000 $ 3.00 Fabrication 34,000 $ 200,000 $ 1.50 Total 55,000 $ 940,000 Machine-hours Fixed manufacturing overhead cost 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: Molding $ 370,000 $ 200,000 16,000 Fabrication $ 320,000 $ 180,000 5,000 Job D-70 Direct materials cost Total $ 690,000 $ 380,000 21,000 Direct labor cost Machine-hours Job C-200 Direct materials cost Direct labor cost Machine-hours Molding $ 220,000 $ 140,000 5,000 Fabrication $ 280,000 $ 240,000 29,000 Total $ 500,000 $ 380,000 34,000 Delph had no underapplied or overapplied manufacturing overhead during the year. 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?
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter3: Process Cost Systems
Section: Chapter Questions
Problem 7BE: In October, the cost of materials transferred into the Rolling Department from the Casting...
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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:
Molding
21,000
$ 740,000
$ 3.00
Total
Fabrication
34,000
$ 200,000
$ 1.50
55,000
$ 940,000
Machine-hours
Fixed manufacturing overhead cost
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
Direct labor cost
Machine-hours
Molding
$ 370,000
$ 200,000
16,000
Fabrication
Total
$ 320,000
$ 180,000
5,000
$ 690,000
$ 380,000
21,000
Job C-200
Direct materials cost
Direct labor cost
Machine-hours
Molding
$ 220,000
$ 140,000
5,000
Fabrication
$ 280,000
$ 240,000
29,000
Total
$ 500,000
$ 380,000
34,000
Delph had no underapplied or overapplied manufacturing overhead during the year.
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%2F621af94b-c7a7-40dd-9624-fc8d10f86498%2F899e7643-958d-4247-bc59-9c20585606d7%2Fvsrsrkp_processed.jpeg&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:
Molding
21,000
$ 740,000
$ 3.00
Total
Fabrication
34,000
$ 200,000
$ 1.50
55,000
$ 940,000
Machine-hours
Fixed manufacturing overhead cost
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
Direct labor cost
Machine-hours
Molding
$ 370,000
$ 200,000
16,000
Fabrication
Total
$ 320,000
$ 180,000
5,000
$ 690,000
$ 380,000
21,000
Job C-200
Direct materials cost
Direct labor cost
Machine-hours
Molding
$ 220,000
$ 140,000
5,000
Fabrication
$ 280,000
$ 240,000
29,000
Total
$ 500,000
$ 380,000
34,000
Delph had no underapplied or overapplied manufacturing overhead during the year.
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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