Determine numbers for tax column. and journal entries

IN CLASS PROBLEM ACTIVITY BASED COSTING ONE ALLOCATION BASIS ASSUMPTIONS: PRINCIPLES INTERMEDIATE ADVANCED TAX PRODUCT 5,000 @$20 20,000 1@$20 1@$10 10 books 5 books per 15,000 00 2@$20 10,000 3@20 2@$10 1 book per 2 hours Ink 3@$10 per book hour 2@$10 Labor productivity Labor rate l per hour hour $10 per hour $10 per $10 per hour hour Selling price -multip Labor hours2,000 Machine hours 5,0002,000 10,000 2,000 3,000 10,000 25,000 1,000 ASSUME TOTAL OVERHEAD IS $200,000 I A. ONE ALLOCATION BASIS-LABOR HOURS Activity Man. PRINCIPLES INTERMEDIATE ADVANCED TAX Total Actin Labor $200,000 2,000 3,00010,000 10,00025.0008 overhead Rate hours B. COMPUTATION OF OVERHEAD COST ON UNIT BASIS Activity Man. PRINCIPLES INTERMEDIATE ADVANCED TAX overhead 1. Labor $200,000 2,000 3,000 10,000 10,000 2. Activity rate 3. Allocated overhead 16,000 24,000 80,000 Line 1X2) 4. Quantity 5. Unit overhead 20,000 $.80 15,000 $1.60 10,000 $8 228 Page cost (Line CALCULATION OF UNIT PRODUCT COST. SELLING PRICE AND PREDERTERMINED OVERHEAD RATE (ACTIVITY RATE) PRODUCTPRINCIPLES INTERMEDIATE ADVANCED TAX Ink Labor Overhead Total Unit Cost Selling price 2 multiple Predetermined 8 overhead rate 8 Journal Entries Journal Entry PRINCIPLES INTERMEDIATE ADVANCED TAX Total Purchased Ink Purchased 110,000 90,000 Paper 30,000 20,000 20,000 15,000 11,000 9,000 Ink to WIP20,000 30,000 Paper to WIP 20,000 30,000 Actual labor 2,200 hours 2,800 Applied overhead 8,000 4,000 5,000 3,000 Completed 18,000 12,000 books Books Sold 15,00010,000 Actual 210,000 Overhead 229 Page Cost of Goods Manufactured PRINCIPLES INTERMEDIATE ADVANCED TAX-Total ITEM Direct Materials: Begin Inv Add Purchases l Less Ending Inv Raw Material Used Direct Labor Applied Over Total Mig Cost Add Beg WIP Less End WIP Cost of Goods Mf Cost of Goods Sold and Gross Margin ITEM Sales PRINCIPLES | NTERMEDIATE | ADVANCED | TAX Total Begin FG Cost of GoodsMfg Less End FG Unadjusted Cogs Add Under or Deduct Over Overhead Less Adjusted COGS Gross Margin