Question

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 33,000 43,000 $ 740,000 $ 260,000 $ 5.70 $ 5.70 Total 76,000 $1,000,000 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 Fabrication Total $ 378,000 $ 323,000 $701,000 $ 220,000 $ 180,000 $ 400,000 25,000 8,000 33,000 Job C-200: Direct materials cost Direct labor cost Machine-hours Molding Fabrication Total $ 250,000 $ 290,000 $540,000 $ 160,000 $ 260,000 $ 420,000 8,000 35,000 43,000 Delph had no underapplied or overapplied manufacturing overhead during the year.
Please I need help quickly with 1B, 1C, and 1D

Answer 1

Answer

• Requirement 1

[a]

Working		Molding Department:	Fabrication Department:	Total
A	Variable Overhead rate	$                5.70	$                        5.70
B	Total machine hours	33,000	43,000	76,000
C = A x B	Total Variable Overhead	$         188,100	$                 245,100	$             433,200
D	Total Fixed Overheads	$         740,000	$                 260,000	$          1,000,000
E = C+D	Total manufacturing Overhead			$          1,433,200
F	Total machine hours			76,000
G = E/F	Plant Wide Overhead rate			$                  18.86 ANSWER

[b]

	Job D 70	Job C 200
Molding Department:
Direct material cost	$         378,000	$                 250,000
Direct Labor cost	$         220,000	$                 160,000
Manufacturing Overhead	$         471,500	$                 150,880
Fabrication Department:
Direct material cost	$         323,000	$                 290,000
Direct Labor cost	$         180,000	$                 260,000
Manufacturing Overhead	$         150,880	$                 660,100
Total manufacturing cost assigned	$     1,723,380	$             1,770,980

[c]

		Job D 70	Job C 200
A	Total manufacturing cost assigned	$                              1,723,380	$     1,770,980
B = A x 120%	Bid Price	$                              2,068,056	$     2,125,176

[d]

Total manufacturing cost assigned
Job D 70	$                              1,723,380
Job C 200	$                              1,770,980
Cost of Goods Sold	$                              3,494,360 ANSWER