can someone tell me if im doign this corectly and help with the rest? thank you in advance. I always upvote!
The cormgary apples creiterad cost to jobs on the hasis of direct labothourt Fee the curtent year, 2azt, the compony's presetermined owehead rate per ditect labor heur Wis based on a cost formal a that estimered 5831,000 of total manudacturng oveiftad 14. Requiraments. Compute the predetermaded owheod alocation rate for fscal year 2024 . U\$6 1. the blet shaded areas for incuts. Use Excet to joundize the tramsactions listed in the Transactions tab for the 2. Currert year. 2024 . Enter the beginning balances for the imomenes in the Taccounts. Aswome the cest of the accounts have beginning tuances of zero. Post the journal intries to the Taccounts. Taccoset balances wi automucically calculafe except for Manulacturing Overhead. You will need to calculate the appropriate balance in that account. Yos should not hay negative balances in 3. your taccoures. 4. Adejst the manutacturing ovethoad accosent. a Prepare the joumal entry. b Pott to Jaccourts? 5. Complete the Schedule of Cost of Coods Manutuctured for 2024 6 Complele the Cost of Goods Sold schedule for 2024. 7. Prepare the income statetnett in good fortn for Boyd for 2024 . The company sold 520 unas in 2024 Use the intornution ovent to calculufe the lotewing for 2024 Dse the informution prowded, the high low methed and the cortinticion magr approach to prepare a contribution format income statiment for 2024 (you 8) only hove teo levels of activity, 2003 and 2024 ) Use the contritidion margin approach to compete ine compoeysa arnoid 9 breakeve point in units Use the continbution magin rutio apprach to compute the triakojen paint in 10 sales dollars 11 sequited to eam a target operyang incopen of S664 000 12 operating ifcome at sales increase the 1 ont. 1) Jue the contritutise mison approach to compite the change in not operatirp D) regme id saies tali by 51 inte. 1451 anit 75 the saies incakine by 56% and atrenieing spending is incitated ty $5600 ? Use the coetritidice magit aspriath to caccuiate opecaluy lererage. Weat 1) 4 the fiew Dlaniming incenie? * Instructions Transactions MOH Rate Solution / Journal Entries Solution T-Account Select destinution and presi ENTER or choose Paste Type here to search The following transactions were recorded for the year: a Raw materials were purchased on account, $571,000. Raw materials used in production, $541,000. All of the raw materials were used as direct b materials. The following costs were accrued for employee services: direct labor, $661,000; indirect labor, c $211,000; selling and administrative salaries, $280,000. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and d finished goods warehousing), $426,000. e Incurred various manufacturing overhead costs (e.g., rent, insurance, and utilities), $556,000. Manufacturing overhead cost was applied to production. The company actually worked 46,000 f direct labor-hours on all jobs during the year. Jobs costing $1,741,000 to manufacture according to their job cost sheets were completed g during the year. Jobs were sold on account to customers during the year for a total of $2,861,000. The jobs cost h $1,761,000 to manufacture according to their job cost sheets. Compute the predetermined overhead allocation rate for fiscal year 2024. A Requirement3B Post the journal entries. The cormgary apples creiterad cost to jobs on the hasis of direct labothourt Fee the curtent year, 2azt, the compony's presetermined owehead rate per ditect labor heur Wis based on a cost formal a that estimered 5831,000 of total manudacturng oveiftad 14. Requiraments. Compute the predetermaded owheod alocation rate for fscal year 2024 . U\$6 1. the blet shaded areas for incuts. Use Excet to joundize the tramsactions listed in the Transactions tab for the 2. Currert year. 2024 . Enter the beginning balances for the imomenes in the Taccounts. Aswome the cest of the accounts have beginning tuances of zero. Post the journal intries to the Taccounts. Taccoset balances wi automucically calculafe except for Manulacturing Overhead. You will need to calculate the appropriate balance in that account. Yos should not hay negative balances in 3. your taccoures. 4. Adejst the manutacturing ovethoad accosent. a Prepare the joumal entry. b Pott to Jaccourts? 5. Complete the Schedule of Cost of Coods Manutuctured for 2024 6 Complele the Cost of Goods Sold schedule for 2024. 7. Prepare the income statetnett in good fortn for Boyd for 2024 . The company sold 520 unas in 2024 Use the intornution ovent to calculufe the lotewing for 2024 Dse the informution prowded, the high low methed and the cortinticion magr approach to prepare a contribution format income statiment for 2024 (you 8) only hove teo levels of activity, 2003 and 2024 ) Use the contritidion margin approach to compete ine compoeysa arnoid 9 breakeve point in units Use the continbution magin rutio apprach to compute the triakojen paint in 10 sales dollars 11 sequited to eam a target operyang incopen of S664 000 12 operating ifcome at sales increase the 1 ont. 1) Jue the contritutise mison approach to compite the change in not operatirp D) regme id saies tali by 51 inte. 1451 anit 75 the saies incakine by 56% and atrenieing spending is incitated ty $5600 ? Use the coetritidice magit aspriath to caccuiate opecaluy lererage. Weat 1) 4 the fiew Dlaniming incenie? * Instructions Transactions MOH Rate Solution / Journal Entries Solution T-Account Select destinution and presi ENTER or choose Paste Type here to search The following transactions were recorded for the year: a Raw materials were purchased on account, $571,000. Raw materials used in production, $541,000. All of the raw materials were used as direct b materials. The following costs were accrued for employee services: direct labor, $661,000; indirect labor, c $211,000; selling and administrative salaries, $280,000. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and d finished goods warehousing), $426,000. e Incurred various manufacturing overhead costs (e.g., rent, insurance, and utilities), $556,000. Manufacturing overhead cost was applied to production. The company actually worked 46,000 f direct labor-hours on all jobs during the year. Jobs costing $1,741,000 to manufacture according to their job cost sheets were completed g during the year. Jobs were sold on account to customers during the year for a total of $2,861,000. The jobs cost h $1,761,000 to manufacture according to their job cost sheets. Compute the predetermined overhead allocation rate for fiscal year 2024. A Requirement3B Post the journal entries
