Required information [The following information applies to the questions displayed below] Delph Company uses job-order costing with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that 56,000 machine-hours would be required for the period's estimated level of production. It also estimated $1,060,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $4.00 per machine-hour. Because Delph has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following Information to enable calculating departmental overhead rates: Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Job D-70 Direct materials cost Direct labor cost Machine-hours Job C-200 Direct materials cost Direct labor cost Machine-hours 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: Molding $ 370,000 $ 240,000 16,000 Molding $ 240,000 $ 140,000 6,000 Fabrication $ 320,000 $ 140,000 6,000 Molding 22,000 $ 780,000 $ 4.00 Fabrication $ 220,000 $ 240,000 28,000 Total $ 460,000 $380,000 34,000 Delph had no underapplied or overapplied manufacturing overhead during the year. Total $ 690,000 $380,000 22,000 Fabrication 34,000 $280,eee $ 2.00 Required: 1. Assume Delph uses plantwide predetermined overhead rates based on machine-hours. Total 56,000 $1,060,000 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?

Eli Lilly Corporation has their headquarters in Indiana. Lilly uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. Lilly has provided the following estimated costs for next year: Direct Materials Direct Labor Rent on Factory Building Sales Salaries Depreciation on Factory Equipment Indirect Labor Production Supervisor's Salary Lilly estimates that 20,000 direct labor-hours will be worked during the year. The predetermined overhead rate per hour will be: Multiple Choice O O $4.18 $2.88 $1.95 $7,000 $21,000 $16,000 $26,000 $9,500 $13,500 $18,500 $2.40

Taveras Corporation is currently operating at 50% of its available manufacturing capacity. It uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates:         Machine-hours required to support estimated production   180,000 Fixed manufacturing overhead cost $ 2,520,000 Variable manufacturing overhead cost per machine-hour $ 2.00     Required: 1. Compute the plantwide predetermined overhead rate. 2. During the year, Job P90 was started, completed, and sold to the customer for $2,800. The following information was available with respect to this job:         Direct materials $ 1,288 Direct labor cost $ 924 Machine-hours used   75     Compute the total manufacturing cost assigned to Job P90.   Compute the plantwide predetermined overhead rate. Required 1 Required 2 Compute the plantwide predetermined overhead rate.…

Required information [The following information applies to the questions displayed below.] Delph Company uses job-order costing with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that 54,000 machine-hours would be required for the period's estimated level of production. It also estimated $980,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $4.00 per machine-hour. Because Delph has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following information to enable calculating departmental overhead rates: Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour Job D-70 Direct materials cost Direct labor cost Machine-hours Molding $ 370,000 $ 200,000 15,000 Job C-200 Direct…

Delph Company uses job-order costing with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that 54,000 machine-hours would be required for the period’s estimated level of production. It also estimated $1,000,000 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $4.00 per machine-hour. Because Delph has two manufacturing departments—Molding and Fabrication—it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following information to enable calculating departmental overhead rates:   Molding Fabrication Total Machine-hours 23,000 31,000 54,000 Fixed manufacturing overhead cost $ 760,000 $ 240,000 $ 1,000,000 Variable manufacturing overhead cost per machine-hour $ 4.00 $ 1.00   During the year, the company had no beginning or ending inventories and it started,…

Hijinx Company projected the following overhead costs and cost drivers: Overhead Item Expected Costs Cost Driver Expected Quantity Setup costs $121,500 Number of setups 50 Ordering costs 40,500 Number of orders 30 Maintenance 174,000 Machine-hours 600 Power 27,000 Kilowatt-hours 600 Total overhead cost 363,000 Direct Labor Hours 500 Hijinx contracted for two jobs, both of which were completed during the year. Production managers reported the following data in relation to these jobs:    Job 1 Job 2 Direct materials $170,000 $120,000 Direct labor $14,000 $11,000 Direct labor-hours 300 220 Number of setups 25 23 Number of orders 20 13 Machine-hours 410 200 Kilowatt-hours 380 240 If Hijinx uses a company-wide predetermined overhead rate and the allocation basis is machine hour. How much overhead costs should be assigned to Job 1. Show the calculation steps and…

Kingsport Containers Company makes a single product that is subject to wide seasonal variations in demand. The company uses a job-order costing system and computes plantwide predetermined overhead rates on a quarterly basis using the number of units to be produced as the allocation base. Its estimated costs, by quarter, for the coming year are given below:       Quarter First Second Third Fourth Direct materials $ 200,000 $ 100,000 $ 50,000 $ 150,000 Direct labor 120,000 60,000 30,000 90,000 Manufacturing overhead 240,000 216,000 204,000 ? Total manufacturing costs (a) $ 560,000 $ 376,000 $ 284,000 $ ? Number of units to be produced (b) 120,000 60,000 30,000 90,000 Estimated unit product cost (a) ÷ (b) $ 4.67 $ 6.27 $ 9.47 $ ?   Management finds the variation in quarterly unit product costs to be confusing. It has been suggested that the problem lies with manufacturing overhead because it is the largest element of total manufacturing cost. Accordingly, you have…

Carla Vista Limited is a company that produces machinery to customer orders, using a normal job-order cost system. It applies manufacturing overhead to production using a predetermined rate. This overhead rate is set at the beginning of each fiscal year by forecasting the year's overhead and relating it to direct labour costs. The budget for 2022 was as follows: Direct labour Manufacturing overhead $1,804,000 902,000 As at the end of the year, two jobs were incomplete. These were 1768B, with total direct labour charges of $113,600, and 1819C, with total direct labour charges of $390,100. Machine hours were 287 hours for 17688 and 647 hours for 1819C. Direct materials issued for 1768B amounted to $220,000, and for 1819C they amounted to $420,500. Total charges to the Manufacturing Overhead Control account for the year were $898,500, and direct labour charges made to all jobs amounted to $1,583,600, representing 247,500 direct labour hours. There were no beginning inventories. In…

The chief cost accountant for Voltaire Beverage Co. estimated that total factory overhead cost for the Blending Department for the coming fiscal year beginning May 1 would be $2,340,000 and total direct labor costs would be $1,800,000. During May, the actual direct labor cost totaled $145,000 and factory overhead cost incurred totaled $192,100. Question Content Area a. What is the predetermined factory overhead rate based on direct labor cost? Enter your answer as a whole percent not in decimals. fill in the blank 1772e2fb3039fb1_1 % Question Content Area b. Journalize the entry to apply factory overhead to production for May. If an amount box does not require an entry, leave it blank. blank - Select - - Select - - Select - - Select - Question Content Area c. What is the May 31 balance of the account Factory Overhead—Blending Department? Amount: $fill in the blank 1ea1070e903a021_1 Debit or Credit? d. Does the balance in part (c) represent overapplied or underapplied factory…

Hyu Corporation bases its predetermined overhead rate on the estimated labor-hours for the upcoming year. At the beginning of the most recently completed year, the company estimated the labor-hours for the upcoming year at 56,000 labor-hours. The estimated variable manufacturing overhead was $3.18 per labor-hour and the estimated total fixed manufacturing overhead was $1,237,160. The actual labor-hours for the year turned out to be 56,600 labor-hours. The predetermined overhead rate for the recently completed year was closest to:   Multiple Choice   $22.49.   $3.18.   $25.01.   $25.27.