Exercise 2-15 Plantwide and Departmental Predetermined Overhead
Rates; Job Costs [LO2-1, LO2-2, LO2-3,LO2-4]
Answers
Working |
Molding Department: |
Fabrication Department: |
|
A |
Total Fixed Overheads |
$ 700,000 |
$ 210,000 |
B |
Total machine hours |
20,000 |
30,000 |
C = A/B |
Fixed overhead rate |
$ 35.00 |
$ 7.00 |
D |
Variable Overhead rate |
$ 3.00 |
$ 1.00 |
E = C+D |
Predetermined Departmental Overhead rates = ANSWER |
$ 38.00 |
$ 8.00 |
Job D 70 |
Job C 200 |
|
Molding Department: |
||
Direct material cost |
$ 375,000 |
$ 300,000 |
Direct Labor cost |
$ 200,000 |
$ 175,000 |
Manufacturing Overhead |
$ 532,000 |
$ 228,000 |
Fabrication Department: |
||
Direct material cost |
$ 325,000 |
$ 250,000 |
Direct Labor cost |
$ 160,000 |
$ 225,000 |
Manufacturing Overhead |
$ 48,000 |
$ 192,000 |
Total manufacturing cost assigned |
$ 1,640,000 |
$ 1,370,000 |
Job D 70 |
Job C 200 |
||
A |
Total manufacturing cost assigned |
$ 1,640,000 |
$ 1,370,000 |
B = A x 150% |
Bid Price |
$ 2,460,000 |
$ 2,055,000 |
Total manufacturing cost assigned |
|
Job D 70 |
$ 1,640,000 |
Job C 200 |
$ 1,370,000 |
Cost of Goods Sold |
$ 3,010,000 |
Exercise 2-15 Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO2-1, LO2-2, LO2-3,LO2-4] Required Information Exercise...
Exercise 2-15 (Static) Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO2-1, LO2-2, LO2-3, LO2-4) [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 Molding 20,800 $ 700,000 $ 3.00 Fabrication 30,000 $ 210,000 $ 1.00 Total 50,000 $ 918,800 During the year,...
Exercise 2-15 (Algo) Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO2-1, LO2-2, LO2-3, LO2-4] (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 Fabrication Machine-hours 22,000 33,000 55,000 Fixed manufacturing overhead cost $ 740,000 $ 240,000 $980,000 Variable manufacturing overhead cost per machine-hour $ 5.00 $ Total 2.00 During the year, the...
Required information Exercise 2-15 (Algo) Plantwide and Departmental Predetermined Overhead Rates; Job Costs (LO2-1, LO2-2, LO2-3, LO2-4) [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 Fabrication 24, eee 33,eee $740, eee $ 220, eee $ 4.00 $ 1.ee Total 57, eee $960, eee Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost...
Required information Exercise 2-15 Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO2-1, LO2-2, LO2-3, LO2-4) (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 costs Variable manufacturing overhead cost per machine-hour Molding Fabrication 21,000 31,000 $ 730,000 $300,000 $ 5.20 $ 5.20 Total 52,000 $1,030,000 During the year, the...
this is all one problem
Required information Exercise 2-15 Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO2-1, LO2-2, LO2-3,LO2-4) (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 costs Variable manufacturing overhead cost per machine-hour Molding Fabrication 20,000 30,000 $ 700,000 $ 210,000 $ 3.00 $ 1.00 Total 50,000...
Exercise 2-15 Plantwide and
Departmental Predetermined Overhead Rates; Job Costs [LO2-1, LO2-2,
LO2-3,LO2-4]
Part 1 of 2 Required Information Exercise 2-15 Plantwide and Departmental Predetermined Overhead Rates: Job Costs (LO2-1, LO2-2, LO2-3.LO2-4] 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 costs Variable manufacturing overhead cost per machine-hour Molding 20,...
Exercise 2-15 (Algo) Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO2-1, LO2-2, LO2-3, LO2-4] [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 Fabrication Total Machine-hours 24,000 32,000 56,000 Fixed manufacturing overhead cost $ 740,000 $ 200,000 $ 940,000 Variable manufacturing overhead cost per machine-hour $ 3.00 $ 1.50 During...
Exercise 2-15 Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO2-1, LO2-2, LO2-3, LO2-4] [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 Fabrication Total Machine-hours 33,000 43,000 76,000 Fixed manufacturing overhead costs $ 800,000 $ 200,000 $ 1,000,000 Variable manufacturing overhead cost per machine-hour $ 5.70 $ 5.70 During the...
Exercise 2-15 Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO2-1, LO2-2, LO2-3, LO2-4] [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 Fabrication Total Machine-hours 30,000 40,000 70,000 Fixed manufacturing overhead costs $ 760,000 $ 210,000 $ 970,000 Variable manufacturing overhead cost per machine-hour $ 5.30 $ 5.30 During the...
Required information Exercise 2-15 Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO2- 1, LO2-2, LO2-3, LO2-4) 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 costs Variable manufacturing overhead cost per machine-hour Molding Fabrication 21,000 31,000 $ 730,000 $ 300,000 $ 5.20 $ 5.20 Total 52,000 $1,030,000 During the...