1a) Predetermine overhead rate = (1020000/64000+6.1) = 22.04 per hour
1b) Total manufacturing cost
Job D-70 | Job C-200 | |
Direct material | 694000 | 510000 |
Direct labor | 390000 | 400000 |
Overhead | 595080 | 815480 |
Total | 1679080 | 1725480 |
1c) Bid price
Job D-70 | Job C-200 | |
Bid price | 2350712 | 2415672 |
1d) Cost of goods sold = 1679080+1725480 = 3404560
2a) Departmental overhead rate
Molding = (740000/27000+6.10) = 33.51 per Hour
Fabrication = (280000/37000+6.10) = 13.67 per hour
2b) Total manufacturing cost
Job D-70 | Job C-200 | |
Direct material | 694000 | 510000 |
Direct labor | 390000 | 400000 |
Overhead | ||
Molding | 670200 | 234570 |
Fabrication | 95690 | 410100 |
Total | 1849890 | 1554670 |
2c) Bid price
Job D-70 | Job C-200 | |
Bid price | 1849890*1.4 = 2589846 | 1554670*1.4 = 2176538 |
2d) Cost of goods sold = 1849890+1554670 = 3404560
Saved work required information [The following information applies to the questions displayed below.) Delph Company uses...
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 Fabrication Total Machine-hours 31,000 41,000 72,000 Fixed manufacturing overhead costs $ 710,000 $ 240,000 $ 950,000 Variable manufacturing overhead cost per machine-hour $ 5.80 $ 5.80 During the year, the company had no beginning or ending inventories and it started,...
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 Fabrication Total Machine-hours 21,000 35,000 56,000 Fixed manufacturing overhead costs $ 800,000 $ 220,000 $ 1,020,000 Variable manufacturing overhead cost per machine-hour $ 4.00 $ 1.00 During the year, the company had no beginning or ending inventories and it started,...
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 Fabrication Total Machine-hours 31,000 41,000 72,000 Fixed manufacturing overhead costs $ 710,000 $ 240,000 $ 950,000 Variable manufacturing overhead cost per machine-hour $ 5.80 $ 5.80 During the year, the company had no beginning or ending inventories and it started,...
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 costs Variable manufacturing overhead cost per machine-hour Molding Fabrication 30,000 40,000 $ 770,000 $ 280,000 $ 5.90 $ 5.90 Total 70,000 $1,050,000 During the year, the company had no beginning or ending inventories and it started, completed, and sold...
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 costs Variable manufacturing overhead cost per machine-hour Molding 27,000 $ 760,000 $ 5.40 Fabrication 37,000 $250,000 $ 5.40 Total 64,000 $1,010,000 During the year, the company had no beginning or ending inventories and it started, completed, and sold only...
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 costs Variable manufacturing overhead cost per machine-hour Molding Fabrication 23,000 33,000 $ 800,000 $ 270,000 $ 6.00 $ 6.00 Total 56,000 $1,070,000 During the year, the company had no beginning or ending inventories and it started, completed, and sold...
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 Fabrication Total Machine-hours 29,000 39,000 68,000 Fixed manufacturing overhead costs $ 730,000 $ 260,000 $ 990,000 Variable manufacturing overhead cost per machine-hour $ 5.30 $ 5.30 During the year, the company had no beginning or ending inventories and it started,...
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 costs Variable manufacturing overhead cost per machine-hour Molding 25,000 $ 730,000 $ 6.00 Fabrication 35,000 $280,000 $ 6.00 Total 60,000 $1,010,000 During the year, the company had no beginning or ending inventories and it started, completed, and sold only...
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 costs Variable manufacturing overhead cost per machine-hour Molding Fabrication 28,000 38,000 $ 710,000 $ 210,000 $ 5.70 $ 5.70 Total 66,000 $920,000 During the year, the company had no beginning or ending inventories and it started, completed, and sold...
(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 30,000 40,000 $ 770,000 $ 280,000 $ 5.90 $ 5.90 Total 70,000 $1,050,000 During the year, the company had no beginning or ending inventories and it started, completed, and sold only two...