Question
In: Accounting
Delph Company uses a job-order costing system and has two manufacturing departments—Molding and Fabrication. The company...
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 | 26,000 | 36,000 | 62,000 | ||||
| Fixed manufacturing overhead costs | $ | 750,000 | $ | 290,000 | $ | 1,040,000 | |
| 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, 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: | Molding | Fabrication | Total | |||
| Direct materials cost | $ | 373,000 | $ | 326,000 | $ | 699,000 |
| Direct labor cost | $ | 220,000 | $ | 160,000 | $ | 380,000 |
| Machine-hours | 16,000 | 10,000 | 26,000 | |||
| Job C-200: | Molding | Fabrication | Total | |||
| Direct materials cost | $ | 220,000 | $ | 250,000 | $ | 470,000 |
| Direct labor cost | $ | 150,000 | $ | 220,000 | $ | 370,000 |
| Machine-hours | 10,000 | 26,000 | 36,000 | |||
Delph had no underapplied or overapplied manufacturing overhead during the year.
2. Assume Delph uses departmental predetermined overhead rates based on machine-hours.
a. Compute the departmental predetermined overhead rates.
b. Compute the total manufacturing cost assigned to Job D-70 and Job C-200.
c. If Delph establishes bid prices that are 140% of total manufacturing costs, what bid prices would it have established for Job D-70 and Job C-200?
d. What is Delph’s cost of goods sold for the year?
Solutions
ekkarill92 answered 1 year agoRelated Solutions
Delph Company uses a job-order costing system and has two manufacturing departments—Molding and Fabrication.
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: MoldingFabricationTotalMachine-hours24,00033,00057,000Fixed manufacturing overhead cost$740,000$240,000$980,000Variable manufacturing overhead cost per machine-hour$4.00$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-70MoldingFabricationTotalDirect materials cost$370,000$320,000$690,000Direct labor cost$240,000$140,000$380,000Machine-hours14,00010,00024,000 Job C-200MoldingFabricationTotalDirect materials cost$200,000$300,000$500,000Direct labor cost$120,000$240,000$360,000Machine-hours10,00023,00033,000Delph had no underapplied...
Delph Company uses a job-order costing system and has two manufacturing departments—Molding and Fabrication.
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
34,000
44,000
78,000
Fixed manufacturing overhead costs
$
790,000
$
220,000
$
1,010,000
Variable manufacturing overhead cost per machine-hour
$
6.00
$
6.00
During the year, the company had no beginning or ending inventories and it started, completed, and sold...
Delph Company uses a job-order costing system and has two manufacturing departments—Molding and Fabrication.
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
25,000
33,000
58,000
Fixed manufacturing overhead cost
$
780,000
$
260,000
$
1,040,000
Variable manufacturing overhead cost per machine-hour
$
3.00
$
2.00
During the year, the company had no beginning or ending inventories and it started, completed, and...
Delph Company uses a job-order costing system and has two manufacturing departments—Molding and Fabrication. The company...
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 24,000 33,000 57,000 Fixed
manufacturing overhead cost $ 780,000 $ 240,000 $ 1,020,000
Variable manufacturing overhead cost per machine-hour $ 4.00 $ 1.50
During the year, the company had no beginning or ending inventories
and it started, completed, and sold only two jobs—Job D-70 and Job
C-200. It provided the...
Delph Company uses a job-order costing system and has two manufacturing departments—Molding and Fabrication. The company...
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
23,000
33,000
56,000
Fixed manufacturing overhead costs
$
700,000
$
250,000
$
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, completed, and sold only two jobs—Job
D-70 and Job C-200. It...
Delph Company uses a job-order costing system and has two manufacturing departments—Molding and Fabrication. The company...
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
23,000
33,000
56,000
Fixed manufacturing overhead costs
$
700,000
$
250,000
$
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, completed, and sold only two jobs—Job
D-70 and Job C-200. It...
Delph Company uses a job-order costing system and has two manufacturing departments—Molding and Fabrication. The company...
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
$
740,000
$
270,000
$
1,010,000
Variable manufacturing overhead cost per machine-hour
$
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 Job C-200. It...
Delph Company uses a job-order costing system and has two manufacturing departments—Molding and Fabrication. The company...
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
$
740,000
$
270,000
$
1,010,000
Variable manufacturing overhead cost per machine-hour
$
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 Job C-200. It...
Delph Company uses a job-order costing system and has two manufacturing departments—Molding and Fabrication. The company...
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
28,000
38,000
66,000
Fixed manufacturing overhead costs
$
770,000
$
280,000
$
1,050,000
Variable manufacturing overhead cost per machine-hour
$
5.70
$
5.70
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...
Delph Company uses a job-order costing system and has two manufacturing departments—Molding and Fabrication. The company...
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
$
760,000
$
280,000
$ 1,040,000
Variable manufacturing overhead per
machine-hour
$
5.60
$
5.60
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...
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