Following are simplified job cost sheets for three custom jobs at the end of June for Custom Patios. Job Number 102 Materials Labor Overhead $ 23,000 12,000 4,560 Job Number 103 Materials Labor Overhead $ 50,000 26,400 10,032 Job Number 104 Materials Labor Overhead $ 60,000 42,000 15,960 All jobs were started in June. Overhead is applied with a predetermined rate based on direct labor cost. Jobs 102 and 103 were finished in June, and Job 104 will be finished in July. 1. What was the total cost of direct materials requisitioned in June? 2. How much total direct labor cost was incurred in June? 3. How much total cost is transferred to Finished Goods Inventory in June? Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 Req 1 and 2 Req 3 1. What was the total cost of direct materials requisitioned in June? 2. How much total direct labor cost was incurred in June? Direct Materials Job 102 103 104 Total June Direct Labor Job June 102 103 104 Total Complete this question by entering your answers in the tabs below. Req 1 and 2 Req 3 How much total cost is transferred to Finished Goods Inventory in June? Job Direct Materials Direct Labor Applied Overhead Total Cost Cost Transferred to Finished Goods 102 $ 12,000 103 26,400 104 42,000 Total $ 80,400 Information on Kwon Manufacturing's activities for its first month of operations follows: a. Purchased $101,100 of raw materials on credit. b. Materials requisitions show the following materials used for the month. Job 201 Job 202 Total direct materials Indirect materials $ 49,300 24,700 74,000 9,720 Total materials used $ 83,720 c. Time tickets show the following labor used for the month. Job 201 Job 202 Total direct labor Indirect labor Total labor used $ 40,300 13,700 54,000 25,300 $ 79,300 d. Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate is 80% of direct materials cost. e. Transferred Job 201 to Finished Goods Inventory. f. (1) Sold Job 201 for $167,060 on credit. (2) Record cost of goods sold for Job 201. g. Incurred the following actual other overhead costs for the month. Depreciation of factory equipment Rent on factory building (payable) Factory utilities (payable) Expired factory insurance Total other factory overhead costs $ 33,100 610 910 4,100 $ 38,720 Prepare a job cost sheet for Job 201 and for Job 202 for the month. Compute gross profit on the sale of Job 201. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare a job cost sheet for Job 201 and for Job 202 for the month. Job Number Job Number 201 202 Materials abor Overhead Total cost 1. Prepare a job cost sheet for Job 201 and for Job 202 for the month. 2. Compute gross profit on the sale of Job 201. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute gross profit on the sale of Job 201. Job 201 Gross Profit Information on Kwon Manufacturing's activities for its first month of operations follows: a. Purchased $101,100 of raw materials on credit. b. Materials requisitions show the following materials used for the month. Job 201 Job 202 Total direct materials Indirect materials $ 49,300 24,700 74,000 9,720 Total materials used $ 83,720 c. Time tickets show the following labor used for the month. Job 201 Job 202 Total direct labor Indirect labor Total labor used $ 40,300 13,700 54,000 25,300 $ 79,300 d. Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate is 80% of direct materials cost. e. Transferred Job 201 to Finished Goods Inventory. f. (1) Sold Job 201 for $167,060 on credit. (2) Record cost of goods sold for Job 201. g. Incurred the following actual other overhead costs for the month. Depreciation of factory equipment Rent on factory building (payable) Factory utilities (payable) Expired factory insurance Total other factory overhead costs $ 33,100 610 910 4,100 $ 38,720 Prepare journal entries to record the transactions reflected in items a through g. View transaction list Journal entry worksheet 2 3 4 5 6 7 8 9 10 Record materials purchases. Note: Enter debits before credits. Transaction General Journal Debit Credit Information on Kwon Manufacturing's activities for its first month of operations follows: a. Purchased $101,100 of raw materials on credit. b. Materials requisitions show the following materials used for the month. Job 201 Job 202 Total direct materials Indirect materials $ 49,300 24,700 74,000 9,720 Total materials used $ 83,720 c. Time tickets show the following labor used for the month. Job 201 Job 202 Total direct labor Indirect labor Total labor used $ 40,300 13,700 54,000 25,300 $ 79,300 d. Applied overhead to Job 201 and to Job 202 using a predetermined overhead rate is 80% of direct materials cost. e. Transferred Job 201 to Finished Goods Inventory. f. (1) Sold Job 201 for $167,060 on credit. (2) Record cost of goods sold for Job 201. g. Incurred the following actual other overhead costs for the month. Depreciation of factory equipment Rent on factory building (payable) Factory utilities (payable) Expired factory insurance Total other factory overhead costs $ 33,100 610 910 4,100 $ 38,720 Post entries for transactions a through g to the T-accounts. Each of T-accounts started the month with a zero balance. Raw Materials Inventory Beginning Balance 0 Ending balance Work in Process Inventory Beginning Balance 0 Ending balance Factory Overhead Finished Goods Inventory Beginning Balance 0 Beginning Balance 0 Ending balance Beginning Balance Ending balance Factory Overhead Beginning Balance Cost of Goods Sold 0 Ending balance Beginning Balance Ending balance Finished Goods Inventory 0 The following information is available for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Inventories Raw materials Work in process Finished goods Beginning of period $ 46,000 End of Period $ 40,000 9,700 63,000 19,800 33,600 Cost incurred for the period Raw materials purchases Factory payroll Factory overhead (actual) $ 176,000 200,000 13,000 Indirect materials used Indirect labor used Other overhead costs 46,000 101,000 1. In the Raw Materials Inventory T-account, insert amounts for beginning and ending balances along with purchases and indirect materials used. Solve for direct materials used in the period. 2. Compute the cost of direct labor used for the period. 3. In the Work in Process Inventory T-account, insert amounts for beginning and ending balances along with direct materials used (from part 1), direct labor used (from part 2), and applied overhead. Solve for cost of goods manufactured in the period. 4. In the Finished Goods Inventory T-account, insert amounts for beginning and ending balances along with cost of goods manufactured (from part 3). Solve for cost of goods sold in the period (do not consider any under- or overapplied overhead). 5. In the Factory Overhead T-account, insert amounts for indirect materials used, indirect labor used, other overhead costs, and applied overhead. Solve for underapplied or overapplied overhead. Required 134 and 5 Required 2 1. In the Raw Materials Inventory T-account, insert amounts for beginning and ending balances along with purchases and indirect materials used. Solve for direct material 3. In the Work in Process Inventory T-account, insert amounts for beginning and ending balances along with direct materials used (from part 1), direct labor used (from p goods manufactured in the period. 4. In the Finished Goods Inventory T-account, insert amounts for beginning and ending balances along with cost of goods manufactured (from part 3). Solve for cost of go under- or overapplied overhead). 5. In the Factory Overhead T-account, insert amounts for indirect materials used, indirect labor used, other overhead costs, and applied overhead. Solve for underapplied Beginning Raw Materials Inventory Beginning Beginning Work in Process Inventory Beginning Ending Ending Ending Ending Finished Goods Inventory Factory Overhead Beginning Beginning Beginning Beginning Ending Ending 13,000 46,000 101,000 insert amounts for beginning and ending balances along with purchases and indirect materials used. Solve for direct materials used in the period. t, insert amounts for beginning and ending balances along with direct materials used (from part 1), direct labor used (from part 2), and applied overhead. Solve for cost of insert amounts for beginning and ending balances along with cost of goods manufactured (from part 3). Solve for cost of goods sold in the period (do not consider any amounts for indirect materials used, indirect labor used, other overhead costs, and applied overhead. Solve for underapplied or overapplied overhead. Inventory Beginning s Inventory Beginning Ending Ending Work in Process Inventory Beginning Ending Factory Overhead Beginning Beginning Beginning Ending 13,000 46,000 101,000 Show less Complete this question by entering your answers in the tabs below. Required 1 34 and 5 Required 2 Compute the cost of direct labor used for the period. The cost of direct labor for the period Cost of direct labor used The following information is available for ADT Company, which produces special-order security products and uses a job order costing system. Overhead is applied using a predetermined overhead rate of 55% of direct labor cost. Inventories Beginning of period Raw materials Work in process $ 46,000 9,700 Finished goods 63,000 End of Period $ 40,000 19,800 33,600 Raw materials purchases Cost incurred for the period $ 176,000 Factory payroll 200,000 Factory overhead (actual) Indirect materials used 13,000 Indirect labor used 46,000 Other overhead costs 101,000 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. Prepare journal entries for the above transactions for the period. Journal entry worksheet A B C Record the raw material purchases for cash. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit < A C Record the direct materials used. Note: Enter debits before credits. Transaction 2 General Journal Debit Credit > Journal entry worksheet < A B 0 Record the indirect materials used. Note: Enter debits before credits. Transaction 3 General Journal Debit Credit