Dillon Products manufactures various machined parts to customer specifications. The company uses a job-order costing system and applies overhead cost to jobs based on machine-hours. At the beginning of the year, the company used a cost formula to estimate $4,222,500 in manufacturing overhead cost at an activity level of 563,000 machine-hours. The company spent the month of January working on a large order for 12,100 custory-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, $313,000. b. Raw materials used in production, $255,000 (80% direct materials and 20% indirect materials). c. Labor cost accrued in the factory, $153,000 (one-third direct labor and two-thirds indirect labor) d. Depreciation recorded on factory equipment, $63,200. e. Other manufacturing overhead costs incurred on account, $84,600. f. Manufacturing overhead cost was applied to production on the basis of 40,880 machine-hours actually worked. g. The completed job for 12.100 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 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 10,700 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? Print References C. Manufacturing Overhead Debit 102,000 Work in Process Credit Debit Credit d. e. Ending Balance 102,000 Ending Balance nces Journal entry worksheet < 1 Record the entry to transfer from WIP to Finished goods. Note: Enter debits before credits. Transaction 9. General Journal Debit Credit Record entry Clear entry View general Journal If 10,700 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? Note: Round your intermediate calculations to 2 decimal places and final answer to the nearest whole dollar amount. Portion of job cost included in cost of goods sold Novemberda Required 4 No Transaction 1 a. Raw materials General Journal Debit Credit 313,000 .5 oints Accounts payable 313,000 2 b. Work in process 204,000 eBook Hint Manufacturing overhead. 51,000 Raw materials 255,000 Print 3 C Work in process 51,000 References Manufacturing overhead 102,000 Wages and salaries payable 153,000 4 d. Manufacturing overhead 63,200 Accumulated depreciation 63,200 5 0. Manufacturing overhead. Accounts payable 84,600 84,600 6 f. Work in process 306,600 Manufacturing overhead 306,600