Classic Technology Co. manufactures DVDs for computer software and entertainment companies Classic uses job order costing On September 2. class began production of 5.500 DVDS, Job 423, for Panorama Pictures for 51 70 sales price per DVD. Class promised to deliver the DVDs to Panorama Pictures by September 5. Classic incurred the following direct costs Click the icon to view the costs) (Click the con to view additional information) Read the requirements Requirement 1. Prepare a job cost record for Job 423. Calculate the predetermined overhead alocation rate (round to two decal places), then allocate manufacturing overhead to the job Begin by determining the total amount of direct materials and direct labor incurred on the job. Next, calculate the predetermined overhead allocation rate and apply manufacturing overhead to the job. Lastly, compute the total cost of Job 423 and the cost per DVD Job Cost Record Job No Customer Name Job Description Panorama 5,800 DVDs production of 5,8 oftware and o Panoran the icon to i Data Table - 9-2 Date Labor Time Record No. Amount ct labor 9/02 655 Description 10 hours @ $18 per hour 20 hours @ $14 per hour $ 180 280 e 9/03 656 Amor Materials Requisition No. Date Amount A 9/02 63 S 403 Description 31 lbs, polycarbonate plastic @ 513 per lb. 25 lbs acrylic plastic @ $29 per lb 3 lbsrefined aluminum @ $42 per lb. 9/02 64 725 9/03 74 126 Print Done fields and the Date Promised 9-5 Date Started 9-2 Date Completed 9-3 Manufacturing overhead allocated Direct materials Direct labor Labor Time Requisition Record Number Amount Date Number Amount Date Rate Amount 9-3 135% of direct 63 92 621 $ 403 655 180 labor cost 5 9-2 64 725 Overall Cost Summary 9-3 74 126 656 1254 280 Direct materials Direct labor 460 Manufacturing overhead AR Choose from any list or enter any number in the input fields and then continue to the next question. Requirement 2. Journalize in summary form the requisition of direct materials and the assignment of direct labor and the allocation of manufacturing overhead to Job 3 Wages are not yet paid Record debts first, then credits Exclude explanations from any journal entries) Start by journaling the use of direct materials Date Accounts Debat Credit Sep 3 Next, journalize the use of direct labor. Date Accounts Debit Credit Sep 3 Now journalize the allocation of overhead to Job 423 Date Accounts Debit Credit Sep 3 Choose from any list or enter any number in the input felds and then continue to the next question. Requirement 3. Journalize completion of the job and the sale of the 5,800 DVDs on account. (Record debits first, then credits. Exclude explanation Begin by preparing the entry to show the completion of the job. Date Accounts Debit Credit Sep 3 Next, journalize the revenue portion of the sale of Job 423 Date Accounts Debit Credit Sep. 3 Finally, joumalize the cost of goods portion of the sale Date Accounts Debit Credit Sep 3 Choose from any list or enter any number in the input fields and then continue to the next question Classic Technology Co. manufactures DVDs for computer software and entertainment companies Classic uses job order costing On September 2. class began production of 5.500 DVDS, Job 423, for Panorama Pictures for 51 70 sales price per DVD. Class promised to deliver the DVDs to Panorama Pictures by September 5. Classic incurred the following direct costs Click the icon to view the costs) (Click the con to view additional information) Read the requirements Requirement 1. Prepare a job cost record for Job 423. Calculate the predetermined overhead alocation rate (round to two decal places), then allocate manufacturing overhead to the job Begin by determining the total amount of direct materials and direct labor incurred on the job. Next, calculate the predetermined overhead allocation rate and apply manufacturing overhead to the job. Lastly, compute the total cost of Job 423 and the cost per DVD Job Cost Record Job No Customer Name Job Description Panorama 5,800 DVDs production of 5,8 oftware and o Panoran the icon to i Data Table - 9-2 Date Labor Time Record No. Amount ct labor 9/02 655 Description 10 hours @ $18 per hour 20 hours @ $14 per hour $ 180 280 e 9/03 656 Amor Materials Requisition No. Date Amount A 9/02 63 S 403 Description 31 lbs, polycarbonate plastic @ 513 per lb. 25 lbs acrylic plastic @ $29 per lb 3 lbsrefined aluminum @ $42 per lb. 9/02 64 725 9/03 74 126 Print Done fields and the Date Promised 9-5 Date Started 9-2 Date Completed 9-3 Manufacturing overhead allocated Direct materials Direct labor Labor Time Requisition Record Number Amount Date Number Amount Date Rate Amount 9-3 135% of direct 63 92 621 $ 403 655 180 labor cost 5 9-2 64 725 Overall Cost Summary 9-3 74 126 656 1254 280 Direct materials Direct labor 460 Manufacturing overhead AR Choose from any list or enter any number in the input fields and then continue to the next question. Requirement 2. Journalize in summary form the requisition of direct materials and the assignment of direct labor and the allocation of manufacturing overhead to Job 3 Wages are not yet paid Record debts first, then credits Exclude explanations from any journal entries) Start by journaling the use of direct materials Date Accounts Debat Credit Sep 3 Next, journalize the use of direct labor. Date Accounts Debit Credit Sep 3 Now journalize the allocation of overhead to Job 423 Date Accounts Debit Credit Sep 3 Choose from any list or enter any number in the input felds and then continue to the next question. Requirement 3. Journalize completion of the job and the sale of the 5,800 DVDs on account. (Record debits first, then credits. Exclude explanation Begin by preparing the entry to show the completion of the job. Date Accounts Debit Credit Sep 3 Next, journalize the revenue portion of the sale of Job 423 Date Accounts Debit Credit Sep. 3 Finally, joumalize the cost of goods portion of the sale Date Accounts Debit Credit Sep 3 Choose from any list or enter any number in the input fields and then continue to the next