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 estimate that it would incur $4166,200 in manufacturing overhead cost at an activity level of 563,000 machine-hours. The company spent the entire month of January working on a large order for 12,500 custom-made machined parts. The company had no work in process at the beginning of January. Cost data relating to January follow 00 int rences a. Raw materials purchased on account. $324,000 b. Raw materials used in production, $258,000 (80% direct materials and 20% indirect materials) c. Labor cost accrued in the factory $165,000 (one-third direct labor and two-thirds indirect labor). d. Depreciation recorded on factory equipment, $64.000 e. Other manufacturing overhead costs incurred on account $84.900. f Manufacturing overhead cost was applied to production on the basis of 40,930 machine-hours actually worked during the month g. The completed job for 12,500 custom-made machined parts was moved into the finished goods warehouse on January 31 to awalt 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 (1) above [ignore item (a) 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 (a) above. 4. If 10,900 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? Complete the question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare journal entries to record items (a) through (1) above [ignore item () for the moment). (If no entry is required for transaction/event, select "No journal entry required in the first account field. Do not round Intermediate calculations.) View transaction lit Journal entry worksheet Raw materials purchased on account, $324,000. Hote: Enter debits before credits Credit Transaction General Journal Raw materials Accounts payable Debit 324.000 324,000 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 estimate that it would incur $4166,200 in manufacturing overhead cost at on activity level of 563.000 machine-hours. The company spent the entire month of January working on a large order for 12,500 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. $324,000. b. Raw materials used in production, $258,000 (80% direct materials and 20% indirect materials) c. Labor cost accrued in the factory $165,000 (one-third direct labor and two-thirds indirect labor) d. Depreciation recorded on factory equipment, $64,000. e. Other manufacturing overhead costs incurred on account. $84.900 f Manufacturing overhead cost was applied to production on the basis of 40,930 machine hours actually worked during the month 9. The completed job for 12,500 custom-made machined parts was moved into the finished goods warehouse on January 31 to awak 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 ) above [ignore item (a) 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 10,900 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? Complete the question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant items from your journal entries to accounts. Work in Process Manufacturing Overhead 302,882 b C d 302.882 64,000 84,900 . End. Bal 153,982 End. Bal 302.882 Prov 10 of 17 BE Score answer > 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 estimate that it would incur $4166,200 in manufacturing overhead cost at an activity level of 563,000 machine hours The company spent the entire month of January working on a large order for 12,500 custom-made machined parts. The company hod no work in process at the beginning of January, Cost dota relating to January follow. a. Raw materials purchased on account, $324,000 b. Raw materials used in production, $258,000 (80% direct materials and 20% indirect materials). c. Labor cost accrued in the factory, $165,000 (one-third direct labor and two-thirds indirect labor) d. Depreciation recorded on factory equipment, $64,000. e. Other manufacturing overhead costs incurred on account. $84,900 t Manufacturing overhead cost was applied to production on the basis of 40,930 machine-hours actually worked during the month 9. The completed job for 12,500 custom-made machined parts was moved into the finished goods warehouse on January 31 to wait 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 10,900 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? 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. (If no entry is required for a transaction/event, select "No journal entry requin account field.) View transaction list View journal entry worksheet Transaction No Debit General Journal Credit 1 9 Finished goods Work in process