Answer :
1 (a) Predetermined overhead rate for molding department = Fixed overhead rate + Variable overhead rate
= $ 760000/24000 + $ 3
= $ 31.67 + $ 3
= $ 34.67
Predetermined overhead rate for Fabrication department = Fixed overhead rate + Variable overhead rate
= $ 240000/31000 + $ 2
= $ 7.74 + $ 2
= $ 9.74
1 (b) Total Manufacturing cost assigned to job D -70 and job C -200
job D -70 | job C -200 | |
Direct material | $ 690000 | $ 500000 |
Direct Labor | $ 360000 | $ 380000 |
Overhead applied |
$ 582780 ( 14000 hour* $ 34.67 + 10000hour*$ 9.74 ) |
$ 551240 ( 10000hour*$ 34.67 + 21000 hour*9.74) |
Total Manufacturing cost assigned | $ 1632780 | $ 1431240 |
1 (c) Bid price for Job D - 70 = $ 1632780*150 % = $ 2449170
Bid price for Job C-200 = $ 1431240*150 % = $ 2146860
1 (d) Delph's Cost of goods sold = Total Manufacturing cost assigned
= $ 1632780 + $ 1431240
= $ 3064020
Note -1
Since company has no opening and ending Inventory ,so cost of goods sold is equal to the sum of the manufacturing cost assigned to both Job.
6 2, LO2-3, L02-4) (The following information applies to the questions displayed below.) Delph Company uses...
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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 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-or der costing system and has two manufacturing departments-Molding and Fabrication. The company provided the following estimates at the beginning of the year: 72,000 $ 800,000 270,000 $1,070,000 31,000 41,000 Machine-hours Fixed manufacturing overhead costs Variable manufacturing overhead cost per machine-hour , completed, and sold only two jobs- During the year, the company had no beginning or ending inventories and it started Job D-70 and...
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...
[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 beginn the year Molding Fabrication Total 26,000 36,092 62,090 $748,092 240,000 $988,888 Machine-hours Fixed manufacturing overhead costs Variable manufacturing overhead cost per machine-hour 5 5.50 $ 5.50 During the year, the company had no beginning or ending inventories and it started, completed, and sold only two jobs-Job D-70 and...
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 cost Variable manufacturing overhead cost per machine-hour Molding Fabrication Total 20,000 30,000 50,000 $ 700,000 $ 210,000 $ 910,000 $ 3.00 $ 1.00 During the year, the company had no beginning or ending inventories and it started, completed,...
Chec [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 $ 780,000 $ 5.00 Fabrication 34,000 $ 280,000 $ 2.ee Total 59,000 $1,860, eee During the year, the company had no beginning or ending inventories and it started, completed, and sold...