Question

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 41000 Molding Machine-hours 31000 Fixed manufacturing overhead costs Variable manufacturing overhead per machine-hour $ 5.90 Total 72.000 $ 990,000 $ 720.000 $270.000 $ 5.90 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 $ 377,000 $322,000 $ 699,000 $ 210,000 $ 140,000 $350,000 23,000 8,000 31,000 Job C-200 Direct materials cost Direct labor cost Machine-hours Molding Fabrication Total $ 210,000 $ 270,000 $ 480,000 $ 100,000 $ 250,000 $ 350,000 8,000 33,000 41.000 Delph had no overapplied or underapplied manufacturing overhead during the year

Answer 1

	Molding	Fabrication
Fixed manufacturing overhead cost	720,000	270,000
Machine hours	31,000	41,000
Fixed manufacturing rate per hour	23.2258065	6.58536585
Variable manufacturing overhead rate	5.9	5.9
Pre determined overhead rate	29.13	12.49
Cost Assigned
	D-70	C-200
Direct Material cost	699,000	480,000
Direct Labor Cost	350,000	350,000
Overheads:
Molding	669,990	233,040
Fabrication	99,920	412,170
Total cost assigned	1,818,910	1,475,210
Bid Price
	D-70	C-200
Total cost	1,818,910	1,475,210
Bid Price	2,364,583.00	1,917,773.00
Cost of Goods sold = Cost of jobs	3,294,120