ACCOU SOCIETY CCOUNTING Part Two Instructions Using a spreadsheet and based on the information provided in the next section, complete the following requirements: 1. Determine the predetermined overhead rate. 2. Determine the total number of plastic earphones to account for. 3. Prepare an equivalent units schedule. The schedule should follow the format below; you may add additional information if you would like. Whole Units (Actual) Equivalent Units Direct Materials Plastic Direct Materials Audio/Electronic Conversion Costs Beginning XXXX XXXXX XXXX XXX Start/Completed XXX XXXX XXXX XXX Completed/Transferred Out XXXX XXX XXXX XXX Ending XXX XXX XXXX XXXX 4. Determine the total costs for the plastic and the unit plastic cost for each earphone. 5. Determine the total costs for the audio/electronic devices and the unit audio/electronic device amount per earphone. 6. Determine the total conversion cost and the conversion cost per earphone. 7. Determine the total equivalent cost per earphone. 8. Prepare a Cost of Production report. This report should show all costs transferred into Work-in-Process and the costs transferred to Finished Goods. This process uses FIFO costing. Use dollars and cents 9. Determine the amounts for the following. Show calculations for credit. a) Ending Work-in-Process Inventory in Units AND Dollars b) Ending Finished Goods Inventory in Units AND Dollars c) Cost of Goods Sold d) Over/Under Applied Manufacturing Overhead e) Gross Margin 1) Income before Taxes g) Tax Amount h) Net Income 10. Prepare the necessary Journal Entries related to the manufacturing cycle for this accounting period. 81P