2) Using the ABC method 2250 Summer 2020 a) The Jackpots Dreams Cards Company is a card manufacturer. All direct materials and conversion costs are applied to all of Probal Trading Cards products at an even rate throughout the manufacturing process For August, the beginning work in process inventory for the Finishing Department was 9.600 units that averaged 65 percent complete Ending work in process inventory was 18.500 unts averaging 45 percent complete. Production data shows 188.400 unts were started during the period. Beginning work in process inventory costs totaled $11.282 including 57.296 for conversion costs. For the month of August, additional costs totaling $75.264 for direct materials and $111.034 for conversion costs were added in the production department during the period. 1) Prepare in good forma process report 2) Prepare the journal entry to move costs to finished goods 3) Prepare any journal entry, it required for costs remaining in WIP. b) Electric Car CO (ECC). Currently manufactures two different types of fully electronic cars in 2021 Type BY is a large SUV whereas Type BW will be the fastest car in the world with 10 rocket thrusters. ECC has decided to use ABC costing instead of traditional costing The 2021 budget to manufacture these new types include manufacturing overhead of $125,920,760 which has been allocated on each products inspection hours. The expected prime costs of two new types are as follows: Prime Costs $20915 $43625 ECC's controller believes the traditional costing system may be providing misleading cost information They have developed an analysis of the 2021 budgeted manufacturing overhead costs shown in the following chart Cost Driver fudgeted Activity Budgeted cost Assembly Assembly hours 10.000 $63.410.000 Inspection Inspection hours 10,000 $27.920,000 Painting Galions of paint 5.000 Quality control Number of tests $12.690.760 Total manufacturing-overhead con $12600700 Actual data regarding the 2021 manufacturing of the Type By and the Type BW is shown in the following table with a total MOH of $216,920,760 Type BY Type BW Budgeted Sales (units) 2.222 555 Assembly hours 2.966 Inspection hours 767 2955 Paint Galons 612 2354 Required 1) Using the traditional method Determine the company's predetermined overhead rates) applied Determine how much overhead was applied to Type BY . Provide the MOHD Up Journal entry required for this method at the end of the Determine the company's predetermined overhead rato(s) applied Determine how much overhead was applied to Type BY . Provide the MOM true up journal entry required for this method at the end of the year 2) Using the ABC method 2250 Summer 2020 a) The Jackpots Dreams Cards Company is a card manufacturer. All direct materials and conversion costs are applied to all of Probal Trading Cards products at an even rate throughout the manufacturing process For August, the beginning work in process inventory for the Finishing Department was 9.600 units that averaged 65 percent complete Ending work in process inventory was 18.500 unts averaging 45 percent complete. Production data shows 188.400 unts were started during the period. Beginning work in process inventory costs totaled $11.282 including 57.296 for conversion costs. For the month of August, additional costs totaling $75.264 for direct materials and $111.034 for conversion costs were added in the production department during the period. 1) Prepare in good forma process report 2) Prepare the journal entry to move costs to finished goods 3) Prepare any journal entry, it required for costs remaining in WIP. b) Electric Car CO (ECC). Currently manufactures two different types of fully electronic cars in 2021 Type BY is a large SUV whereas Type BW will be the fastest car in the world with 10 rocket thrusters. ECC has decided to use ABC costing instead of traditional costing The 2021 budget to manufacture these new types include manufacturing overhead of $125,920,760 which has been allocated on each products inspection hours. The expected prime costs of two new types are as follows: Prime Costs $20915 $43625 ECC's controller believes the traditional costing system may be providing misleading cost information They have developed an analysis of the 2021 budgeted manufacturing overhead costs shown in the following chart Cost Driver fudgeted Activity Budgeted cost Assembly Assembly hours 10.000 $63.410.000 Inspection Inspection hours 10,000 $27.920,000 Painting Galions of paint 5.000 Quality control Number of tests $12.690.760 Total manufacturing-overhead con $12600700 Actual data regarding the 2021 manufacturing of the Type By and the Type BW is shown in the following table with a total MOH of $216,920,760 Type BY Type BW Budgeted Sales (units) 2.222 555 Assembly hours 2.966 Inspection hours 767 2955 Paint Galons 612 2354 Required 1) Using the traditional method Determine the company's predetermined overhead rates) applied Determine how much overhead was applied to Type BY . Provide the MOHD Up Journal entry required for this method at the end of the Determine the company's predetermined overhead rato(s) applied Determine how much overhead was applied to Type BY . Provide the MOM true up journal entry required for this method at the end of the year