Smithson 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 27,000 37,000 64,000
Fixed manufacturing overhead costs $ 720,000 $ 210,000 $ 930,000
Variable manufacturing overhead per machine hour $ 5.00 $ 5.00

During the year, the company had no beginning or ending inventories and it started, completed, and sold only two jobs”Job D 75 and Job C 100. It provided the following information related to those two jobs:

Job D 75: Molding Fabrication Total
Direct materials cost $ 376,000 $ 323,000 $ 699,000
Direct labor cost $ 250,000 $ 180,000 $ 430,000
Machine hours 22,000 5,000 27,000

Job C 100: Molding Fabrication Total
Direct materials cost $ 210,000 $ 230,000 $ 440,000
Direct labor cost $ 120,000 $ 240,000 $ 360,000
Machine hours 5,000 32,000 37,000

Smithson had no overapplied or underapplied manufacturing overhead during the year.

(Round all answer to two decimals places)

1.

Compute the predetermined plantwide overhead rate.

2.

Compute the total manufacturing costs assigned to Job D 75 and Job C 100.

3.

If Smithson establishes bid prices that are 120% of total manufacturing costs, what bid price would it have established for Job D 75 and Job C 100?

4.

What is Smithson’s cost of goods sold for the year?