# Job-Order Costing System Assignment

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 \$ 780,000 \$ 300,000 \$ 1,080,000 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 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 \$ 375,000 \$ 326,000 \$ 701,000 Direct labor cost \$ 240,000 \$ 140,000 \$ 380,000 Machine-hours 19,000 9,000 28,000

 Job C-200: Molding Fabrication Total Direct materials cost \$ 250,000 \$ 260,000 \$ 510,000 Direct labor cost \$ 160,000 \$ 240,000 \$ 400,000 Machine-hours 9,000 29,000 38,000

Exercise 2-15 Part 1

Required:

1. Assume Delph uses a plantwide predetermined overhead rate 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 140% of total manufacturing cost, 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? Get Accounting homework help today

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