Ch 15 Homework 0 Saved Help 10 Telstar usesjob order costing. The Taccounts below summarize its production activity for the year. Raw Materials Inventory Factory We as Payable Factory Overhead 10 Debit Credit Debit credit Debit Credit , 45,100 24,350 126,100 I5,a50 B, 100 102,794 PDInts 8,100 40,350 40,350 51,470 work in Precees Inventory nished Geode Inventory El Debit credit Debit Credit week 24,350 170,420 170,420 153,390 85,850 102,794 E! Print 1. Compute the amount for each of the following. [E a. Direct materials used Rafe'ences b. Indirect materials used c. Direct labor used d. Indirect labor used e. Cost of goods manufactured f. Cost of goods sold (before closing over or underapplied overhead) 2. Compute the amount that overhead is overapplied or underapplied. Complete this question by entering your answers in the tabs below. I Required 1 I Required 2 Compute the amount for each of the following. a. Direct materials used b. Indirect materials used c. Direct labor used d. Indirect labor used 9. Cost of goods manufactured f. Cost of goods sold (before closing over- or underapplied overhead) Required 2 > Ch 15 Homework i Saved Help 3 Custom Cabinetry has one job in process (Job 120) as of June 30; at that time, its job cost sheet reports direct materials of $8,400, direct labor of $3,300, and applied overhead of $2,640. Custom Cabinetry applies overhead at the rate of 80% of direct labor cost. During July, Job 120 is sold (on credit) for $29,000, Job 121 is started and completed, and Job 122 is started and still in process at the 10 end of July. Custom Cabinetry incurs the following costs during July. points Job 120 Job 121 Job 122 Skipped Direct materials used $ 2, 000 $ 7,200 $ 4, 100 Direct labor used 4, 000 4, 600 2 , 800 1. Prepare journal entries for the following July transactions and events a through e. Book a. Direct materials used. . Direct labor used. c. Overhead applied. d. Sale of Job 120. Hint e. Cost of goods sold for Job 120. Hint: Job 120 has costs from June and July. 2. Compute the July 31 balances of the Work in Process Inventory and the Finished Goods Inventory accounts. (There were no jobs in Print Finished Goods Inventory at June 30.) Complete this question by entering your answers in the tabs below. References Required 1 Required 2 Prepare journal entries for the following July transactions and events a through e. View transaction list Journal entry worksheet 1 2 3 4 5 Record the entry to assign direct materials to job. Note: Enter debits before credits Transaction General Journal Debit Credit a. Record entry Clear entry View general journal Required 1 Required 2 >