(9) Finished Goods Inver X New Tab Theducation.com/ext/map/index.html?con con&external browser=0&launchurl=http%253A%252F%252Fbblearn.tri-c.edu Homework Saved Help Sav Exercise 3-10 (Algo) Applying Overhead; Journal Entries; T-accounts (LO3-1, L03-2) Dillon Products manufactures various machined parts to customer specifications. The company uses a job-order cos applies overhead cost to jobs on the basis of machine-hours. At the beginning of the year, the company used a cost estimate that it would incur $4,200,000 in manufacturing overhead cost at an activity level of 560,000 machine-houn The company spent the entire month of January working on a large order for 12,500 custom-made machined parts. had no work in process at the beginning of January. Cost data relating to January follow: a. Raw materials purchased on account. $319,000 b. Raw materials used in production, 5252.000 (80% direct materials and 20% indirect materials) cLabor cost accrued in the factory, $168.000 (one-third direct labor and two-thirds indirect labor d. Depreciation recorded on factory equipment, $62.900 e. Other manufacturing overhead costs incurred on account $84,800 1. Manufacturing overhead cost was applied to production on the basis of 40.950 machine hours actually worked duri month The completed job for 12,500 custom-made machined parts was moved into the finished goods warehouse on Janue awalt delivery to the customer on computing the dollar amount for this entry, remember that the cost of a completed of direct materials, direct labor, and applied overhead Required: 1. Prepare journal entries to record items through (1) above lignore item () for the moment) 2. Prepare T-accounts for Manufacturing Overhead and Work in Process Post the relevant items from your journal entries T-accounts 3. Prepare a journal entry for tem al above 40.000 of the custom made machined parts are shipped to the customer in February, how much of this job's cost will included in cost of goods sold for February MacBook Pro R A 2 $ 4 3 % 5 6 & 7 .00 9 0 W E 20 T Y U - S D F G H J L 2 M Journal entry worksheet Raw materials purchased on account, $319,000. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general Journal equired: Prepare journal entries to record items (a) through (6) above [ignore item (g) for the moment). Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant items from your jour accounts - Prepare a journal entry for item (9) above. . If 10,000 of the custom-made machined parts are shipped to the customer in February, how much of this job's included in cost of goods sold for February? Complete the question by entering your answers in the tabs below