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 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, 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 $ 375,000 $325,000 $ 700,000 $ 200,000 $ 160,000 $360,000 14,000 6,000 20,000 Job C-200: Direct materials cost Direct labor cost Machine-hours Molding Fabrication Total $ 300,000 $ 250,000 $ 550,000 $ 175,000 $225,000 $ 400,000 6,000 24,000 30,000 Delph had no underapplied or overapplied manufacturing overhead during the year.

Answer 1

$ $ 910,000 90,000 Requirement (a) Estimated Fixed Manufacturing Overhead Estimated Variable Manufacturing Overhead (20000*3)+(30000*1) Estimated Total Manufacturing Overhead Estimated Total Machine Hours Predetermined Overhead Rate 1,000,000 50000 20.00 Requirement (b) Particulars Direct material Direct Labour Manufacturing Overhead applied 20000*20 30000*20 Total Manufacturing Cost Job D-70 $ $ $ Job C-200 700,000 $ 550,000 360,000 $ 400,000 400,000 $ 600,000 $ 1,460,000 $1,550,000 Requirement (c) Particulars Total Manufacturing Cost Add : Markup (150%) Bid Price Job D-70 $ $ $ Job C-200 1,460,000 $1,550,000 2,190,000 $2,325,000 3,650,000 $3,875,000 $ 3,010,000 Requirement (d) Cost of goods sold (1460000+1550000) (Since no Beginning and ending Finished goods) Note : Comment down for any issues