Texts: steps 1-4 please how to find total manufacturing cost & bid price
Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour
$23,000 $760,000 $3.00
$220,000 $1.50
000086
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 $370,000 $320,000 $200,000 $160,000 15,000 8,000
Total $690,000 $360,000 23,000
Job C-200 Direct materials cost Direct labor cost Machine-hours
Molding Fabrication $260,000 $260,000 $160,000 $280,000 34,000 26,000
Total $520,000 $440,000 34,000
Delph had no underapplied or overapplied manufacturing overhead during the year.
Required: 1. Assume Delph uses plantwide predetermined overhead rates based on machine-hours.
a. Compute the plantwide predetermined overhead rate.
b. Compute the total manufacturing cost assigned to Job D-70 and Job C-200.
c. If Delph establishes bid prices that are 150% 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?
Complete this question by entering your answers in the given tabs below.
Required 1A Required 1B Required 1C Required 1D
Assume Delph uses plantwide predetermined overhead rates based on machine-hours. Compute the plantwide predetermined overhead rate.
Note: Round your answer to 2 decimal places.
Overhead rate = $19.30 per MH
