Clean Dish Inc manufactures dishwashing detergent. The detergent goes through two departments: Mixing and Packaging. The company accountant has assembled the information below for the Month of October. Mixing Department: Work in Process October 1, 8,000 units Direct Material 100% complete $12,220 Conversion 70% complete $10.200 Balance Work in Process October 1 $22,420 Units started in October ??? units Units Compited during October and transferred to Packaging Department 100,000 units Costs incurred in October Direct Material $27,600 Conversion Costs S193,800 Work in Process October 31, 5,800 units Direct Material 90% complete Conversion 60% complete REQUIRED: ROUND TO POUR DECIMAL POINTS! 1. Prepare the weighted average production report for the Mixing Department in the month of October, Round all calculations to two decimal places. Format is important! a How many units must be accounted for? 6 points 6. What is the total cost of material and conversion in the Mixing department for October? 6 points c. Calculate equivalent units for material and conversion. 10 points d. Reconcile total cost with the balance remaining in October 31 work in process plus transferred to the Packaging Department. A potential 3.5 difference is possible due to rounding. 6 points 2. The president of the company does not understand the production report, especially the equivalent units. Briefly explain the process undertaken in this report and its importance in understanding the cost of cach unit of dish detergent. 3 points TTTT Paragraph Arial 3120 .EE Old World Clocks, Inc., which uses a job-costing system, began business on January 1, 2018 and applies manufacturing overhead on the basis of direct-labor cost. The following information relates to 2020: Budgeted direct labor and manufacturing overhead were anticipated to be $660,000 and $825,000 respectively. Job no. I was started in 2019 and had $37,000 of cost in work in process as of 12/31/19. Jobs 2 and 3 were begun during the year and had the following charges for direct material and direct labor: Job No. Direct Materials Direct Labor 1 $ 148,000 55,000 2 234,000 64,000 3 86,000 98,000 Job nos. 1 and 2 were completed and sold on account to customers at full product cost plus 140%. Job no. 3 remained in production Actual manufacturing overhead by year-end totaled $280,000. Required: A. Compute the company's predetermined overhead application rate. 4 points B. What is the full product cost of Jobs 1 and 2? 12 points C. Compute Old World Clock's ending work-in-process inventory. 6 points D. Determine Old World Clock's gross margin. 4 points E. Was manufacturing overhead under or overapplied during 2020? By how much? 3 points Clean Dish Inc manufactures dishwashing detergent. The detergent goes through two departments: Mixing and Packaging. The company accountant has assembled the information below for the Month of October. Mixing Department: Work in Process October 1, 8,000 units Direct Material 100% complete $12,220 Conversion 70% complete $10.200 Balance Work in Process October 1 $22,420 Units started in October ??? units Units Compited during October and transferred to Packaging Department 100,000 units Costs incurred in October Direct Material $27,600 Conversion Costs S193,800 Work in Process October 31, 5,800 units Direct Material 90% complete Conversion 60% complete REQUIRED: ROUND TO POUR DECIMAL POINTS! 1. Prepare the weighted average production report for the Mixing Department in the month of October, Round all calculations to two decimal places. Format is important! a How many units must be accounted for? 6 points 6. What is the total cost of material and conversion in the Mixing department for October? 6 points c. Calculate equivalent units for material and conversion. 10 points d. Reconcile total cost with the balance remaining in October 31 work in process plus transferred to the Packaging Department. A potential 3.5 difference is possible due to rounding. 6 points 2. The president of the company does not understand the production report, especially the equivalent units. Briefly explain the process undertaken in this report and its importance in understanding the cost of cach unit of dish detergent. 3 points TTTT Paragraph Arial 3120 .EE Old World Clocks, Inc., which uses a job-costing system, began business on January 1, 2018 and applies manufacturing overhead on the basis of direct-labor cost. The following information relates to 2020: Budgeted direct labor and manufacturing overhead were anticipated to be $660,000 and $825,000 respectively. Job no. I was started in 2019 and had $37,000 of cost in work in process as of 12/31/19. Jobs 2 and 3 were begun during the year and had the following charges for direct material and direct labor: Job No. Direct Materials Direct Labor 1 $ 148,000 55,000 2 234,000 64,000 3 86,000 98,000 Job nos. 1 and 2 were completed and sold on account to customers at full product cost plus 140%. Job no. 3 remained in production Actual manufacturing overhead by year-end totaled $280,000. Required: A. Compute the company's predetermined overhead application rate. 4 points B. What is the full product cost of Jobs 1 and 2? 12 points C. Compute Old World Clock's ending work-in-process inventory. 6 points D. Determine Old World Clock's gross margin. 4 points E. Was manufacturing overhead under or overapplied during 2020? By how much? 3 points