Dobbs Transport assembles prestige manufactured homes. Its job costing system has two direct-cost categories (direct materials and direct manufacturing labor) and one indirect-cost pool (manufacturing overhead allocated at a budgeted $30 per machine-hour in 2017). The following data (in millions) show operation costs for 2017: (Click the icon to view the operations data (in millions). Read the requirements Requirement 1. Identify the components of the overview diagram of Dobbs Transport's job-costing system. B A Indirect Cost pool B Manufacturing Overhead } } D C Cost Allocation Base D Machine Hours F E Cost Object: Product F Indirect Costs E } G G Direct Costs H } H Direct Costs | Direct Materials Direct Manufacturing J Labor -- Requirement 2 and 3. Prepare journal entries. Number your entries. Explanations for each entry may be omitted. Post to T-accounts. What is the ending balance of Work-in-Process Control? Show the journal entry for disposing of under-or overallocated manufacturing overhead directly as a year-end writeoff to Cost of Goods Sold. Post all the entry to T-accounts. Choose from any list or enter any number in the input fields and then click Check Answer. Requirement 2 and 3. Prepare journal entries. Number your entries. Explanations for each entry may be omitted. Post to T-accounts. What is the ending balance of Work-in-Process Control? Show the journal entry for disposing of under-or overallocated manufacturing overhead directly as a year-end writeoff to Cost of Goods Sold. Post all the entry to T-accounts. Record the purchase of materials, $157. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Accounts Debit Credit (In millions) (1) Choose from any list or enter any number in the input fields and then click Check Answer. $ 12 6 15 157 148 18 98 Materials Control, beginning balance, January 1, 2017 Work-in-Process Control, beginning balance, January 1, 2017 Finished Goods Control, beginning balance, January 1, 2017 Materials and supplies purchased on credit Direct materials used Indirect materials (supplies) issued to various production departments Direct manufacturing labor Indirect manufacturing labor incurred by various production departments Depreciation on plant and manufacturing equipment Miscellaneous manufacturing overhead incurred (ordinarily would be detailed as repairs, utilities, etc., with a corresponding credit to various liability accounts) Manufacturing overhead allocated, 2,100,000 actual machine-hours Cost of goods manufactured Revenues Cost of goods sold 35 21 19 ? 301 406 298 1. 2. Identify the components of the overview diagram of Dobbs Transport's job-costing system. Prepare journal entries. Number your entries. Explanations for each entry may be omitted. Post to T-accounts. What is the ending balance of Work-in-Process Control? Show the journal entry for disposing of under- or overallocated manufacturing overhead directly as a year-end writeoff to Cost of Goods Sold. Post the entry to T-accounts. How did Dobbs Transport perform in 2017? 3. 4
