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Delph Company uses a job-order costing system and has two manufacturing departments-Molding and Fabrication. The company prov

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A) Calculation of Departmental Predetermined Overhead Rates

Particulars Amount ($)
Estimated Variable manufacturing overhead 124,000 =(23,000*4)+(32,000*1)
Estimated Fixed manufacturing overhead 940,000
Total Estimated manufacturing overhead 10,64,000
Divide by Estimated Machine hours 55,000 hrs
Predetermined overhead rate 19.35 per MH
B) Calculation of total manufacturing cost
Job D-70 Job C-200
Direct materials cost $690,000 $480,000
Direct labor cost $380,000 $400,000
Overhead applied

$445,050

(23,000hrs x $19.35)

$619,200

(32,000 hrs x $19.35)

Total manufacturing cost $15,15,050 $14,99,200
C) Calculation of Bid Prices
Job D-70 Job C-200
Total manufacturing cost $15,15,050 $14,99,200
Add: Markup @50% $757,525 $749,600
Bid prices $22,72,575 $22,48,800
D) Calculation of Cost of goods sold
Total manufacturing cost Job D-70 $15,15,050
Total manufacturing cost Job C-200 $14,99,200
Cost of goods sold $30,14,250

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