Question

iz (Required) Saved 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: Fabrication 39,000 $ 290,000 Total 68,000 $1,010,000 Molding 29,000 $ 720,000 6.10 Machine-hours Fixed manufacturing overhead costs Variable nanufacturing overhead cost per machine-hour $ $ 6.10 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 Fabrication $ 372,000 S 324,000 $ 696,000 $ 230,000 S 160,000 $ 390,000 23,000 Job D-70: Direct materials cost Direct labor cost Machine-hours 29,000 6,000 Molding Fabeication $ 240,000 $ 220,e00 $ 460,000 S 140,000 $ 250,000 S390,000 6,000 Job C-200: Direct materials cost Direct labor cost Machine-hours 33,000 39,e00 Delph had no underapplied or overapplied manufacturing overhead during the year. Next> of 4 Prey 13 2

Answer 1

1a) Plantwide overhead rate = (1010000/68000+6.10) = 20.95 per hour

1b) Calculate total manufacturing cost Assigned

	Job D-70	Job C-200
Direct material	696000	460000
Direct labor	390000	390000
Overhead	29000*20.95 = 607550	817050
Total manufacturing cost	1693550	1667050

1c) Bid price :

Job D-70 = 1693550*1.3 = $2201615

Job C-200 = 1667050*1.3 = 2167165

1d) Cost of goods sold = 1693550+1667050 = $3360600