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 $4,305,000 in manufacturing overhead cost at an activity level of 574,000 machine-hours. The company spent the entire month of January working on a large order for 12,000 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, $317.000. b. Raw materials used in production, $272,000 (80\% direct materials and 20% indirect materials). c. Labor cost accrued in the factory, $171,000 (one-third direct labor and two-thirds indirect labor). d. Depreciation recorded on factory equipment, $62,500. e. Other manufacturing overhead costs incurred on account, $84,000. 1. Manufacturing overhead cost was applled to production on the basis of 40,630 machine-hours actually worked during the month. 9. The completed job for 12000 custom-made machined parts was moved into the finished goods warehouse on January 31 to awalt delvery to the customer. (In computing the dollar amount for this entry, remember that the cast of a completed job consists of direct materials, direct labor, and applled overhead.) Required: 1. Prepare journal entiles to record items (a) through (i) above [ignore item (g) for the moment]. 2. Prepare Traccounts for Manufacturing Overhead and Work in Process. Post the relevant items from your journal entries to these Taccounts, 3. Prepare a journal entry for item (9) above. 4. 11 t0.300 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. Prepare journal entries to record items (a) through (f) above [ignore item (g) for the moment]. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations.) Journal entry worksheet 56 Raw materials purchased on account, $317,000. Noter Enter debes before credits. Complete the question by entering your answers in the tabs below. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant items from your journal entries to these T-accounts Prepare a journal entry for item (g) above. (If no entry is required for a transaction/event, select "No fournal entry required" in the first account field.) Journal entry worksheet Record the entry to transfer from WIP to Finished goods. Note: Enter debins before credits. 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 Taccounts. 3. Prepare a journal entry for item (g) above. 4. If 10,300 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. If 10,300 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? (Round your intermediate calculations to 2 decimal places and final answer to the nearect whole doltar amount.)
