Exercise 3-10 (Algo) Applylng Overhead; Journal Entrles; T-accounts [LO3-1, LO3-2] 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 $4,271,200 in manufacturing overhead cost at an activity level of 562,000 machine -hours. The company spent the entire month of January working on a large order for 12.300custommademachinedparts.Thecompanyhad no work in process at the beginning of January, Cost data relating to January follow. a. Raw materials purchased on account, $312,000 b. Raw materials used in production, $250.000 (80\% direct materiais 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, $62,100. e. Other manufacturing ovethead costs incurred on account, $86,000. f. Manufacturing overhead cost was applied to production on the basis of 40,540 machine-hours actually worked during the month. 9. The completed job for 12300 custom-made machined parts was moved into the finished goods warehouse on January 31 to await delivery to the customer. (lin computing the dollar amount for this entry, remember that the cost of a completed job consists of direct materials, direct labor, and opplied overhead.) Required: 1. Prepare journal entries to record items (a) through (i) above flgnore 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 (a) above. 4. If 10,600 of the custom made machined parth 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 10,600 of the custom 'made machined partis are shipped to the customer in February, how much of this job's cost will be included in cost of grodr sold for febsuary? (found your intermediate calculations to 2 decimal olaces and final answer to the nearest whole dellar ampunt.)