Abbott Lamp Corporation manufactures BOTH Mountain Dew Lamps AND Coca-Cola Lamps, starts 1/1/20. On 1/1/20, Erin Rogers ESTIMATES the following MOH costs:

Utilities for manufacturing building $4,000

Grease for machines $1,200

Rent on manufacturing building $3,600

Depreciation on manufacturing machine $1,200

Erin Rogers also estimates a total of 2,000 direct labor hours for the year and ALC applies MOH costs using DLH (or direct labor hours).

Compute the Predetermined Overhead Rate.

On 1/1/20, ALC obtains a lamp-making machine for $6000 on account. It has a 0 salvage value and a useful life of 5 years. Please give the journal entry to describe this transaction.

On 1/1/20, ALC purchases on account 1000 Mountain Dew Cans for $10,000. It also purchases on account 2000 Coca-Cola Cans for $40,000 and 1,000 pounds of grease for $80,000. Please give the journal entry to record this transaction.

On 1/1/20, ALC purchases on account 1,000 pieces of paper for $10,000. Please give the journal entry to describe this transaction.

On 1/5/20, ALC mountain dew lamp workers requisitioned out 100 Mountain dew cans and 20 pieces of paper. Please give the journal entry to describe this transaction.

On 1/5/20, ALC coca-cola lamp workers requisitioned out 200 coca-cola cans and 100 pieces of paper. Please give the journal entry to describe this transaction.

On 1/15/20, ALC mountain dew lamp workers requisitioned out 10 pounds of grease (and remember, the grease helps to make BOTH Mountain Dew Lamps and Coca-cola lamps). Please give the journal entry to describe this.

7. During January, ALC workers worked the following:
   1. Mountain Dew Lamp workers => 100 dlh and they are paid $10/dlh IN CASH ;
   2. Coca-Cola Lamp workers => 80 dlh and they are paid $25/dlh IN CASH.

Please give the journal entry to APPLY overhead for the month of January.

Please create TWO January JOB COST SHEETS (one Mountain Dew Lamps; one Coca-Cola Lamps) and compute cost per Mountain Dew Lamp and Coca Cola lamp.

On 1/31, ALC receives its January utility bill for $1,000 and pays for it in CASH. These utilities pertain to the manufacturing facility. Please give the journal entry.

On 1/31, ALC receives its monthly rent bill for its manufacturing facility for $300 and pays for it in CASH. This rent pertains to the manufacturing facility. Please give the journal entry.

On 1/31, ALC makes it monthly depreciation entry for the lamp-making equipment. Straight line depreciation of a $6,000 asset over 5 years is $1,200 per year or.$100 per month. Please give the appropriate depreciation journal entry for the month of January.

On 1/31, ALC workers completed 100 Mountain Dew Lamps and 200 Coca-cola lamps AND all 100/200 Mountain Dew/Coca-cola lamps were transferred to the finished goods. To give the journal entry, utilize the two separate Job Cost Sheets you completed earlier.

On 2/1, ALC sold all 100 Mountain Dew Lamps it made in January on account for $50/lamp. Please give the journal entry.

On 2/1, ALC all sold 200 Coca-cola lamps it made in January for CASH for $100/lamp. Please give the appropriate journal entry.

RESULTS FOR THE REMAINDER OF THE YEAR

During February December 31, ALC Mountain Dew Lamp workers, requisitioned out 800 Mountain Dew Cans and 160 pieces of paper. Give the journal entry to describe this transaction.

During February December 31, ALC Coca-Cola Lamp workers requisitioned out 600 Coca-Cola cans and 300 pieces of paper. Give the journal entry.

During February December 31, ALC paid the following to its workers:

Mountain Dew Lamp workers for direct labor (800 dlh * $10/dlh) $8,000

Coca-Cola Lamp workers (240 dlh * $25/dlh) $6,000

These were paid for in CASH. Please give the journal entry.

Give the journal entry to APPLY overhead from February December 31.

The Mountain Dew Lamp workers started and completed all 800 Mountain Dew Lamps from February December 31. The 800 Mountain Dew Lamps were transferred to finished goods. Give the journal entry to describe this transaction. Once again, create a job cost sheet for these 800 mountain Dew lamps.

Coca-cola Lamp workers started and completed all 600 Coca-Cola Lamps from February December 31. The 600 Coca-cola Lamps were transferred to finished goods. Give the journal entry to describe this transaction. Once again, create a job cost sheet for these 600 Coca-cola lamps.

During February December 31, ALC made 11 monthly depreciation journal entries totaling $1,100 for its lamp-making equipment. Give the journal entry.

During February December 31, ALC made 11 CASH payments for rent totaling $3,300. Give the journal entry.

During February December 31, ALC made 11 CASH payments for utilities totaling $1,200. These utilities pertain to the manufacturing plant. Please give the journal entry.

During February December 31, ALC sold 500 Mountain Dew Lamps for $50/lamp (or $25,000 total) in CASH. Give the journal entry to describe this transaction.

During February December 31, ALC sold 500 Coca-Cola Lamps for $100/lamp (or $50,000) in CASH. Give the journal entry to describe this transaction.

During the year, ALC paid CASH for the following PERIOD COSTS:

Salaries at corporate headquarters $20,000

Rent on corporate headquarters $20,000

Please give the journal entry to describe this.

29. Create your MOH clearing t-account. Here are some hints:
    1. Remember, the MOH clearing account will have a zero beginning balance.
    2. Your MOH clearing account will have ACTUAL January MOH on the debit side and APPLIED January MOH on the credit side. It will also have ACTUAL February December 31 MOH on the debit side and APPLIED February December 31 MOH on the credit side.

Is MOH OVER or UNDER-applied at 12/31? IF so, indicate by how much.

Please make the appropriate journal entry to close out any over/under-applied MOH to COGS at 12/31.