Data Table oss is ack of ringo data $ 880 720 140 1,320 900 410 Direct materials and supplies purchased on credit Direct materials used Indirect materials issued to various production departments Direct manufacturing labor Indirect manufacturing labor incurred by various production departments Depreciation on building and manufacturing equipment Miscellaneous manufacturing overhead incurred by various production departments (ordinarily would be detailed as repairs, photocopying, utilities, etc.) Manufacturing overhead allocated at 170% of direct manufacturing labor costs Cost of goods manufactured Revenues Cost of goods sold (before adjustment for under or overallocated manufacturing overhead) Inventories, December 31, 2016 (not 2017): Materials Control Work-in-Process Control 590 ? 4,170 8,400 4,050 140 85 590 Finished Goods Control *The term manufacturing overhead is not used uniformly. Other terms that are often encountered in printing companies urnal er ter any Print Done Question Help o The University of Concord Press is wholly owned by the university. It perform the bulk of this work for other university departments, which pays though the press were an outside business enterprise. The press also publishes and maintains a stock of books for general sale. The press es normal costing to cost each job. Its job-conting system has two direct-cost categories (direct materials and direct manufacturing labor) and one indirect-cost pool manufacturing overhead, alocated on the basis of direct manufacturing labor costs). The following data in thousands) pertain to 2017: Click the icon to view the data) Read the requirements Requirement 1. Identify the components of the overview diagram of the job.conting system at the University of Concord Press A } B C } E H } 1 J Requirement 2. Prepare lumal entries to summarize the 2017 transactions. As vour front dispose of the year and under or overallocated manufacturing overhead as a write-off to Cost of Goods Sold Number Choose from any list or enter any number in the input fields and then continue to the next question Sve torte Question Help The University of Concord Press is wholly owned by the university. It performs the bulk of its work for other university departments, which pay as though the press were an outside business enterprise. The press also publishes and maintains a stock of books for general sale. The press uses normal costing to cost each job. Its job-costing system has two direct-cost categories (direct materials and direct manufacturing labor) and one indirect-cost pool (manufacturing overhead, allocated on the basis of direct manufacturing labor costs). The following data in thousands) pertain to 2017: (Click the icon to view the data) Read the requirements Requirement 2. Prepare journal entries to summarize the 2017 transactions. As your final entry, dispose of the year and under or overallocated manufacturing overhead as a write-off to Cost of Goods Sold. Number your entries. Explanations for each entry may be omitted.(Record debits first, then credits Exclude explanations from any journal entries.) Direct materials and supplies purchased on credit, 880 Journal Entry Accounts Debit Credit In thousands) (1) Record the direct materials used, 5720 Journal Entry Accounts Deba Credit in thousands) 23 Choose from any list or enter any number in the input fields and then continue to the next question Save for Later Question Help The University of Concord Press is wholly owned by the university. It perform the bulk of its work for other university departments, which pay as though the press were an outside business enterprise. The press also publishes and maintains a stock of books for general sale. The press usos normal conting to cost each job. lis job.cooling system has to direct-cost categories (direct materials and direct manufacturing labor) and one Indirect-cost pool (manufacturing overhead, allocated on the basis of direct manufacturing labor costs). The following data in thousanda) pertain to 2017 Click the icon to view the data) Read the requirements Journal Entry Accounts Debit Credit in thousands) 12) Record the Indirect materials used, 5140 Journal Entry Accounts Debit Credit In thousands (3) Choose from any list or enter any number in the input fields and then continue to the next question Save for later o Question Help The University of Concord Press is wholly owned by the university. It performs the bulk of its work for other university departments, which pays though the press were an outside business enterprise. The press also publishes and maintains a stock of books for general sale. The press uses romal coating to cost each job. Its job.conting system has two direct cont categories (direct materials and direct manufacturing lobor) and one indirect cost pool (manufacturing overhead, allocated on the basis of direct manufacturing labor cons). The following data in thousands) pertain to 2017: HIT (Click the loon to view the data.) Read the requirements Record the cost of the direct and indirect labor used in production, $1,220 and $900, respectively. (Combine the entries to record direct and indirect labor into one entry) Journal Entry Accounts Debit Credit (in thousands) (4) Record the entry for depreciation, 5410 Journal Entry Account Debit Credit in thousands) Choose from any list or enter any number in the input fields and then continue to the next question Save for Later o Question Help The University of Concord Press is wholly owned by the university. It performs the bulk of its work for other university departments, which pay as though the press were an outside business enterprise. The press also publishes and maintains a stock of books for general sale. The press uses normal conting to cost each job. Its job.cooling system has two direct.cost categories (direct materials and direct manufacturing lobor) and one indirect.cost pool (manufacturing overhead, allocated on the basis of direct manufacturing labor cons). The following data in thousands) pertain to 2017 (Click the loon to view the data.) Read the requirements Journal Entry Accounts Debit Credit (in thousands) (5) Record the miscellaneous manufacturing overhead coats, so Journal Entry Accounts Debit Credit (in thousands) (8) Choose from any list or enter any number in the input fields and then continue to the next question Save for Later Question Help The University of Concord Press is wholly owned by the university. It performs the bulk of its work for other university departments, which pay as though the press were an outside business enterprise. The press also publishes and maintains a stock of books for general sale. The press uses normal costing to cost each job. It's job costing systom has two direct-cost categories (direct materials and direct manufacturing labor) and on indirect-cost pool (manufacturing overhead, allocated on the basis of direct manufacturing labor costs). The following data (in thousanda) pertain to 2017: (Click the icon to view the dota.) Read the requirements Journal Entry Accounts Debit Credit (In thousands) (8) Record the revenues, $8,400 ournal Entry Accounts Debit Credit in thousands) (9) Choose from any list or enter any number in the input fields and then continue to the next question Save for Later Question Help The University of Concord Preos is wholly owned by the university it performs the bulk of its work for other university departments, which pays though the press were an outside business enterprise. The press the publishes and maintains a stock of books for general sale. The pressus normal conting to cost echo-cosling system has two direct cost categories (direct materials and direct manufacturing labor) and one indirect-cost pool manufacturing overhead, allocated on the basis of direct manufacturing labor costs. The following data in thousands) pertanto 2017: (Click the icon to view the data) Read the requirements Record the cost of goods sold, 54,050 Journal Entry Accounts Debat Credit in thousands) (10) Dispose of the year and under of overallocated manufacturing overhead Journal Entry Accounts Debit Credit On thousands) (11) Choose from any list or enter any number in the input fields and then continue to the next question Save for Later The University of Concord Press is wholly owned by the university. It performs the bulk of its work for other university departments, which pays though the press were an outside business enterprise. The press also publishes and maintains a stock of books for general sale. The press uses normal conting to cost each job. Its job-costing system has two direct cost categories (direct materials and direct manufacturing labor) and one Indirect-cost pool manufacturing overhead, allocated on the basis of direct manufacturing labor costs). The following data in thousands) pertain to 2017 Click the icon to view the data) Read the requirements Accounts Debit Credit in thousands) (11) Requirement 3. Show posted T-accounts for all inventories, Cost of Goods Sold, Manufacturing Overhead Control and Manufacturing Overhead Allocated Post entries (1) through (11) to the counts below, then calculate the ending balance in each account. The beginning balances have been entered, now enter the popropriate amounts into the accounts from the joumal ones. (For counts with a balance leave the balance in biark) Review the journal entries from requirement 2 Work in Process Manufacturing Materials Control Control Overhead Control 140 Bal Choose from any it or enter any number in the input fields and then continue to the next to Save for Later The University of Concord Press is wholly owned by the university. It performs the bulk of its work for other university departments, which pay as though the press were an outside business enterprise. The press also publishes and maintains a stock of books for general sale. The press es normal costing to cost echjob job-costing system has two direct cost categorias (direct materials and direct manufacturing labor) and one indirect-cost pool (manufacturing overhead, allocated on the basis of direct manufacturing labor costs). The following data in thousands) pertanto 2017 Click the icon to view the data.) Read the requirements Bal Bal Bal Bal Bal Finished Goods Control 600 Manufacturing Overhead Allocated Cost of Goods Sold B Bal Bol Bal Bal Requirement 4. How did the University of Concord Press perform in 2017? (Round your answer to the nearest whole percent) Concord Press' gross margin percentage of This indicate that University of Concord Press in 2017. Gross margins above 30% are generally considered very good Choose from any list or enter any number in the input fields and then continue to the next question Save for Later eBook Pro