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Can someone please help me with this question. I need this asap. Thank you There are three problems this week. Click the tabs at the

Can someone please help me with this question. I need this asap. Thank you

image text in transcribed There are three problems this week. Click the tabs at the bottom of the spreadsheet to go to problems 2 and 3. Echo Sports Company produces home basketball goal systems consisting of a stand, backboard, rim, and net. The company has sufficient orders and capacity to produce 800 goal systems per month. Manufacturing costs and other costs are shown below: Administrative salary Depreciation on office equipment Depreciation on production equipment Electric and other factory utilities Factory supervisor salary Fiberglass backboards purchased from another manufacturer Insurance on factory building and contents Maintenance costs on factory equipment Nets and rims purchased from another manufacturer Rent on factory building Sales commissions Steel pipe for stand fabrication Supplies for administrative office 2,400.00 400.00 1,800.00 1,400.00 2,000.00 30,400.00 600.00 1,200.00 6,400.00 2,000.00 1,600.00 14,920.00 600.00 Wages for production workers 14,720.00 80,440.00 Enter each manufacturing cost in the appropriate column. Leave blank if it does not fit in any column. Administrative salary Depreciation on office equipment Depreciation on production equipment Electric and other factory utilities Factory supervisor salary Fiberglass backboards purchased from another manufacturer Insurance on factory building and contents Maintenance costs on factory equipment Nets and rims purchased from another manufacturer Rent on factory building Sales commissions Steel pipe for stand fabrication Supplies for administrative office Wages for production workers Totals Compute the cost to produce 1 basketball goal system (cost per unit): Direct materials Direct labor Overhead Total manufacturing costs Units of production Cost per unit Direct Materials Direct Labor - $ 800 - What will the cost per unit be if we increase production by 100 units with a proportional cost increase for direct materials and direct labor, but no increase in overhead cost? Direct materials Direct labor Overhead Total manufacturing costs Units of production 900 Cost per unit $ - Manufacturing Overhead - - Job Costing Elite Custom Cabinetry Company produces custom cabinet order to exact measure based off CAD drawings provided by kitchen remodeling firms: As of June 1, there was one order in production (job 5-3) and two new jobs were started in June (jobs 6-1 and 6-2). Job 5-3 had incurred costs as follows prior to the month of June: direct material $4,600; direct labor $6,550, overhead $3,400 There were no finished goods as orders ship out upon completion. Raw material inventory was $18,600 as of June 1. The following events occurred during June: 1. Purchased additional raw materials of $20,000. 2. Incurred direct labor hours of 640 hours at a rate of $24.00 during the month of June. 3. Incurred total manufacturing overhead costs of $18,400 during the month of June. 4. Assigned Direct materials and direct labor hours to jobs as follows: Actual Materials Hours Job 5-3 2,300 112 Job 6-1 8,700 320 Job 6-2 5,420 208 Totals 16,420 640 5. The company uses direct labor hours to assign overhead to individual jobs, and the predetermined overhead rate is $28.00 per hour, based on the budget of 600 labor hours per month. 6. Jobs 5-3 and 6-1 are completed and shipped in the month of June. Job 6-2 is in progress at month end. A. B. C. D. Calculate the completed cost of jobs 5-3 and 6-1. Calculate the cost of work in process (job 6-2). Calculate over or under applied overhead for hours worked and rate per hour. Calculate the actual overhead rate per hour. Job 5-3 Work in Process Additional materials Additional direct labor Additional overhead applied Total cost of completed job - Job 6-1 Direct materials Direct labor Overhead applied Total cost of completed job - Job 6-2 Direct materials Direct labor Overhead applied Total cost of work in process - Total overhead incurred Total overhead applied Under applied overhead Actual overhead rate: Total actual overhead cost Total hours direct labor Cost per direct labor hour Process Job Costing and Equivalent Units of Production Bay Manufacturing produces paint. The company has two processes: mixing and packaging. The ingredients for the paint are mixed in large batches and then transferred to the packaging department, where one-gallon cans are filled, capped, labeled, and boxed. There was no work in process on February 1. The materials are all brought to the packaging department up front and charged to the job. Nothing is transferred to finished goods until the entire job is complete. The materials costs include the packaging, material, and the cost transferred from the mixing department. On February 2, 15,000 gallons (job 2-1) were transferred into the packaging department from the mixing department and completed on February 19. The costs incurred to complete job 2-1 in the packaging department are as follows: Materials 56,250 Labor 11,250 Overhead (applied based on direct labor hours) 7,500 On February 20, another 20,000 gallons (job 2-2) were transferred into the packaging department. Job 2-2 was 50% complete as to labor at the end of the month. The costs incurred (unit cost unchanged from job 2-1) to complete job 2-2 in the packaging department are as follows: Materials 75,000 Labor 15,000 Overhead (applied based on direct labor hours) 10,000 INSTRUCTIONS: 1. Compute the physical units of production. 2. Compute the cost per unit to complete packaging for labor, materials, overhead, and total. 3. Compute equivalent units and cost of work in process as of the end of February. 4. Record journal entries for: a. the movement of materials from materials inventory to each job b. the allocation of payroll to each job c. the application of overhead to each job d. the movement of work in process to finished goods Part 1: Units to be accounted for: Work in process Started in production Total units Units accounted for: Completed and transferred out Work in process Total units Part 2: Total costs to be incurred, job 2-1 Units Cost per unit to be incurred Part 3: Work in process, February 28 Equivalent units 20,000 units transferred in Costs incurred Equivalent gallons Cost per unit Total cost in WIP February 28 Part 4: Work in process, job 2-1 Work in process, job 2-2 Materials inventory Units 35,000 35,000 15,000 20,000 35,000 Material #DIV/0! Material 20,000 100% 20,000 #DIV/0! #DIV/0! Debit Labor #DIV/0! Labor ### 50% 10,000 #DIV/0! #DIV/0! Credit 56,250 #DIV/0! #DIV/0! Work in process, job 2-1 Work in process, job 2-2 Payroll Summary 11,250 #DIV/0! Work in process, job 2-1 Work in process, job 2-2 Overhead 7,500 #DIV/0! Finished goods inventory Work in process, job 2-1 75,000 #DIV/0! #DIV/0! 75,000 Overhead Total #DIV/0! Overhead 20,000 50% 10,000 #DIV/0! #DIV/0! #DIV/0! Total #DIV/0

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