Fill in the Blank QuestionFill in the blank question.The plantwide and departmental overhead rate methods are based on readily available information such as direct _  hours or _ hours.

Fill in the Blank QuestionFill in the blank question.The overhead rate method uses a different overhead rate per production department.

A company uses direct labor hours as its allocation base. Management estimates the company will have 10,000 hours of direct labor during the year and total overhead costs of $120,000. The predetermined overhead rate will be $ per hour.

The standard overhead rate is computed separately for:Multiple choice question.fixed and variable costsproduct and period costsdirect and indirect costs

One plant uses a flexible budget and predetermined overhead rates to assignoverhead costs to the different product produced. Overhead costs are assigned usingdirect labor hours. Fixed overhead is budgeted at $2.3 million for the next year andvariable overhead is predicted to be $2.5 per direct labor hour.HD EDUThe plant was designed two years ago for to accommodate 180 production employees(direct labor), each working 2,000 hours per year. However, the expected volume fornext year will be greater than the normal volume because of the high demand for theproduct. Specifically, 200 production workers are projected for next year, and eachworker is expected to work 2,640 hours per year.At the end of the year, based on the actual sales volume produced, the standardvolume was 480,000 direct labor hours.Calculate the fixed cost production volume variance for the year assuming that normalvolume was used in setting the overhead rate. Round all numbers calculated to twodecimal places in the calculation.A. $767200 UB. $767200 FC. $207200 FD. $207200 U

Required informationExercise 2-17 (Algo) Plantwide and Departmental Predetermined Overhead Rates; Job Costs [LO2-1, LO2-2, LO2-3, LO2-4]Skip to question[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 60,000 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 $5.00 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 TotalMachine-hours 25,000 35,000 60,000Fixed manufacturing overhead cost $ 720,000 $ 260,000 $ 980,000Variable manufacturing overhead cost per machine-hour $ 5.00 $ 2.00  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 TotalDirect materials cost $ 370,000 $ 320,000 $ 690,000Direct labor cost $ 200,000 $ 160,000 $ 360,000Machine-hours 15,000 10,000 25,000Job C-200 Molding Fabrication TotalDirect materials cost $ 220,000 $ 300,000 $ 520,000Direct labor cost $ 140,000 $ 280,000 $ 420,000Machine-hours 10,000 25,000 35,000Delph had no underapplied or overapplied manufacturing overhead during the year.Exercise 2-17 (Algo) Part 2Required:2. Assume Delph uses departmental predetermined overhead rates based on machine-hours.Compute the departmental predetermined overhead rates.Compute the total manufacturing cost assigned to Job D-70 and Job C-200.If Delph establishes bid prices that are 150% of total manufacturing cost, what bid prices would it have established for Job D-70 and Job C-200?What is Delph’s cost of goods sold for the year?