2 Materials used: Job 420=$33,240; Job 421=43,920; Job 422=$37,100; Job 423: $40,2 Indirect Materials used=$4,470. (Total direct materials used=$154,530.) WORK IN PROCESS INV SALARIES PAYABLE FACTORY OVERHEAD Actual Applied IM IL supv/sec depr DM DL FO 3 Factory wages: Job 420=$18,000; Job 421=$26,000; Job 422=$15,000; Job 423=$25, Indirect Labor=$3,300. (Total direct labor = $84,000.) Credit Wages Payable. UTILITIES PAYABLE 4 Factory supervision salaries and factory security salaries were $39,500. Credit Salar FINISHED GOODS INV 5 Depreciation on the factory and machinery was $14,550. 6 Factory overhead is applied at the rate of 72% of direct labor cost. DR Bal=underapplied CR Bal=overapplied CCUM. DEPRECIATIO JOB 420** DM DL FO TOTAL 7 Fill in the job cost sheets. 8 Jobs 420, Job 421 and Job 423 were completed and moved to Finished Goods. DEBIT CREDIT 9 Job 420 was sold to a customer for $100,000 on account. JOB 421+ DM DL FO TOTAL WHEN YOU ARE DONE, CHANGE THE PAGE STATUS IN CELL T1 TO DONE! 0 ACCOUNTS RECEIVABLE RAW MATERIALS INV WORK IN PROCESS INV FINISHED GOODS INV ACCUM. DEPRECIATION FACTORY OVERHEAD ACCOUNTS PAYABLE WAGES PAYABLE SALARIES PAYABLE UTILITIES PAYABLE SALES COST OF GOODS SOLD JOB 422 DM DL FO TOTAL 0 0 JOB 423+ DM DL FO TOTAL ALT-OVER-UNDERAPPLIED Nixon Company estimated that its factory overhead for 2019 would be $840,000. The factory overhead is applied using Direct Labor Hours. Nixon estimated that it would use 40,000 Direct Labor Hours in 2019. The actual factory overhead in 2019 turned out to be $855,000 and the company actually used 41,000 direct labor hours. a. What is the predetermined ovehead rate (POR)? PER DIRECT LABOR HOUR FACTORY OVERHEAD Debit Credit b. What was the amount of the actual and applied overhead? Fill in the T-account. C. Was the overhead underapplied or overapplied? Choose one: d. By how much? e. Show entry to close the Factory Overhead account. Debit Credit Choose Account Choose Account To Close the Factory Overhead account. WHEN YOU ARE DONE, CHANGE THE PAGE STATUS IN CELL G1 TO DONE! TH ALT-PROD-COST-REPORT--MIXING DEPARTMENT The Mixing Department of Drake Manufacturing Company had beginning Work in Process of 4,000 pounds, with cost of $6,500. A total of 90,000 pounds of material were requisitioned into the factory, with a cost of $365,500. Factory overhead applied to production was 90.00% of direct labor cost. The company ended up with 6,000 units in ending work in process that were 40.00% complete. The direct labor cost was $280,000. WHOLE UNITS Beginning WIP Units Started Units to Account For WIP-Mixing Beg. WIP DM DL FO EQ UNITS $0 Units Completed & Transferred End WIP Units Accounted For 100% 40% Cost Per Unit Cost of Units Transferred Cost of Units in Ending WIP Total Cost in Department The units completed and transferred from the Mixing Department are moved to the Blending Department. Show the journal entry that would move the appropriate cost to the Blending Department. DEBIT CREDIT GENERAL JOURNAL Choose Account: Choose Account