Cottage Construction, Inc. is a home builder in Arizona. Cottage uses a job order costing system in which each house is a job Because it constructs houses, the company uses an account it Overhead. The company applies overhead based on estimated direct labor costs. For the year, it estimated construction overhead of $1,350,000 and total direct labor cost of $2,700,000. The during August (Click the icon to view the events.) Read the requirements. Requirements Requirement 1. Calculate Cottage's predetermined overhead allocation rate for the year, Predetermined overhead allocation rate Requirement 2. Prepare journal entries to record the events in the general journal (Record debt first, then credit a. Purchased materials on account, $430,000 1. Calculate Cottage's predetermined overhead allocation rate for they 2. Prepare journal entries to record the events in the general journal, 3. T-accounts for Work in Process inventory and finished Gods hven been opened for you. Post the appropriate entries to these account Identifying each entry by letter. Determine the ending account balance assuming that the beginning balances were zero. 4. Add the costs of the unfinished houses, and show that amou be ardin balance in the Work.. Proces natacan Date Accounts Debit Credit a 5. i More Info b. Requisitioned direct materials and used direct labor in construction. Record the materials requisitioned, Date Accounts Debit Credit a. Purchased materials on account, $430,000 b. Requisitioned direct materials and used direct labor in constr Recorded the materials requisitioned. Direct Materials Direct Labor House 4025 50,000 $ 8.000 House 403 62.000 38.000 HoUs 404 61,000 36.000 House 405 87,000 53,009 b Choose from any list or enter any number in the input fields and then continue to the next question Cottage Construction, Inc. is a home builder in Arizona. Cottage uses a job order costing system in which each house is a job Because it constructs houses, the company uses an account it Overhead. The company applies overhead based on estimated direct labor costs. For the year, it estimated construction overhead of $1,350,000 and total direct labor cost of $2,700,000. The during August (Click the icon to view the events.) Read the requirements. Requirements Requirement 1. Calculate Cottage's predetermined overhead allocation rate for the year, Predetermined overhead allocation rate Requirement 2. Prepare journal entries to record the events in the general journal (Record debt first, then credit a. Purchased materials on account, $430,000 1. Calculate Cottage's predetermined overhead allocation rate for they 2. Prepare journal entries to record the events in the general journal, 3. T-accounts for Work in Process inventory and finished Gods hven been opened for you. Post the appropriate entries to these account Identifying each entry by letter. Determine the ending account balance assuming that the beginning balances were zero. 4. Add the costs of the unfinished houses, and show that amou be ardin balance in the Work.. Proces natacan Date Accounts Debit Credit a 5. i More Info b. Requisitioned direct materials and used direct labor in construction. Record the materials requisitioned, Date Accounts Debit Credit a. Purchased materials on account, $430,000 b. Requisitioned direct materials and used direct labor in constr Recorded the materials requisitioned. Direct Materials Direct Labor House 4025 50,000 $ 8.000 House 403 62.000 38.000 HoUs 404 61,000 36.000 House 405 87,000 53,009 b Choose from any list or enter any number in the input fields and then continue to the next