Dillon Products manufactures various machined parts to customer specifications. The company uses a job-order costing system and applies overhead cost to jobs on the basis of machine-hours. At the beginning of the year, the company used a cost formula to esumate that it would incur $4,800,000 in manufacturing overhead cost at an activity level of 240,000 machine-hours. The company spent the entire month of January working on a large order for 16,000 custom-made machined parts. The company had no work in process at the beginning of January. Cost data relating to January follow. a. Raw materials purchased on account, $325.000. b. Raw materials used in production, $290,000 (80% direct materials and 20% Indirect materials). c. Labor cost accrued in the factory. $180,000 (one-third direct labor and two-thirds Indirect labor). d. Depreciation recorded on factory equipment, $75,000. e Other manufacturing overhead costs incurred on account, $62,000. 1. Manufacturing overhead cost was applied to production on the basis of 15,000 machine-hours actually worked during the month. g. The completed job for 16,000 custom-made machined parts was moved into the finished goods warehouse on January 31 to await delivery to the customer. (In computing the dollar amount for this entry, remember that the cost of a completed job consists of direct materials, direct labor, and applied overhead.) Required: 1. Prepare journal entries to record items (a) through (f) above [ignore item (g) for the moment 2. Prepare T-accounts for Manufacturing Overhead and Work In Process. Post the relevant items from your journal entries to these T- accounts 3. Prepare a journal entry for item (g) above, 4. If 10,000 of the custom-made machined parts are shipped to the customer in February, how much of this job's cost will be included in cost of goods sold for February? Answer is not complete. Complete the question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare a journal entry for item (9) above. ( no entry is required for a transaction/event, select No journal entry required in the first account field.) No Transaction General Journal Fished goods Debit Credit 502,000 The Polaris Company uses a job-order costing system. The following transactions occurred in October. a. Raw materials purchased on account, $210,000. b. Raw materials used in production, $190,000 ($178.000 direct materials and $12,000 indirect materials). c. Accrued direct labor cost of $90,000 and indirect labor cost of $110,000. d. Depreciation recorded on factory equipment, $40,000. e. Other manufacturing overhead costs accrued during October, $70,000. The company applies manufacturing overhead cost to production using a predetermined rate of $8 per machine-hour. A total of 30,000 machine-hours were used in October g. Jobs costing $520,000 according to their job cost sheets were completed during October and transferred to Finished Goods. h. Jobs that had cost $480,000 to complete according to their job cost sheets were shipped to customers during the month. These Jobs were sold on account at 25% above cost Required: 1. Prepare journal entries to record the transactions given above 2 Prepare T-accounts for Manufacturing Overhead and Work In Process. Post the relevant transactions from above to each account Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $42.000. Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 21 Prepare Traccounts for Manufacturing Overhead and Work in Process, Post the relevant transactions from above to each account. Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $42,000. Manufacturing Overhead Debit Credit Beginning balance Ending balance Work in Process Debit Credit Beginning balance