Blossom Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January $1,$

$2027,$ Job $50$ was the only job in process. The costs incurred prior to January $1$ on this job were as follows: direct materials $$16,000,$

direct labor $$9,600,$ and manufacturing overhead $$12,800.$ As of January $1,$ Job $49$ had been completed at a cost of $$72,000$ and was

part of finished goods inventory. There was a $$12,000$ balance in the Raw Materials Inventory account on January $1.$

During the month of January, Blossom Company began production on Jobs $51$ and $52,$ and completed Jobs $50$ and $51.$ Jobs $49$ and $50$

were sold on account during the month for $$97,600$ and $$126,400,$ respectively. The following additional events occurred during the

month.

Purchased additional raw materials of $$72,000$ on account.

Incurred factory labor costs of $$56,000.$

Incurred manufacturing overhead costs as follows: depreciation expense on equipment $$9,600$; and various other

manufacturing overhead costs on account $$12,800.$

Assigned direct materials and direct labor to jobs as follows.

Assigned indirect materials of $$13,600$ and indirect labor of $$16,000.$

$($a$)$

Calculate the predetermined overhead rate for $2027,$ assuming Blossom Company estimates total manufacturing overhead costs

of $$672,000,$ direct labor costs of $$560,000,$ and direct labor hours of $16,000$ for the year.

Predetermined overhead rate

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List of Accounts

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$10\%$ score reduction after attempt $2$ Prepare the journal entries to record $(1)$ the purchase of raw materials, $(2)$ the factory labor costs incurred, and $(3)$ the

manufacturing overhead costs incurred during the month of January. $($List all debit entries before credit entries. Credit account titles

are automatically indented when amount is entered. Do not indent manually.$)$

No$.$ Account Titles and Explanation

Debit

Credit

$(1)$

$(2)$

$(3)$

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$($d$1)$

Prepare the joumal entries to record the assignment of $(1)$ raw materials, $(2)$ factory labor, and $(3)$ manufacturing overhead costs

to production. In assigning manufacturing overhead costs, use the overhead rate calculated in $($a$).($List all debit entries before credit

entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.$)$

No$.$ Account Titles and Explanation

Debit

Credit

$(1)$

$(2)$

$(3)$

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List of Accounts $($b$)$ & $($d$2)$

Open job cost sheets for Jobs $50,51,$ and $52.$ Enter the January $1$ balances on the job cost sheet for Job $50.$ Post all costs to the job

cost sheets as necessary.

Cost of completed job

Direct materials

$

Direct labor

Manufacturing overhead $($e$)$

Prepare the journal entry to record the completion of any job$($s$)$ during the month. $($List all debit entries before credit entries. Credit

account titles are automatically indented when amount is entered. Do not indent manually.$)$

Account Titles and Explanation

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$($f$)$

Prepare the journal entries to record the sale of any job$($s$)$ during the month. $($List all debit entries before credit entries. Credit account

titles are automatically indented when amount is entered. Do not indent manually.$)$

No$.$ Account Titles and Explanation

Debit

Credit

$(1)$

$($To record sale of jobs$)$

$(2)$

$($To record cost of jobs$)$

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$10\%$ score reduction after attempt $2$What is the balance in the Finished Goods Inventory account at the end of the month? $($Hint: Use a T$-$account for Finished Goods

Inventory.$)$ What does this balance consist of$?$

Finished Goods Inventory $

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$($h$)$

What is the amount of over$-$ or underapplied overhead?

Manufacturing Overhead $

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