HE

NEED HELP WITH QUESTION #3

Requirement 1: (2 points) What is Ford's 12/31/22 balance of Work In Process Inventory on the Finished Goods Inventory balance sheet? Ford Construction estimates the following costs for 2023 : Direct labor $773,740(35,170 hours at $22 per hour ) Cost of Goods Sold Manufacturing overhead $295,428 Ford uses direct labor hours to assign manufacturing overhead costs to jobs. Round to the nearest cent. Requirement 2: ( 2 paints)_What is Ford's 2023 predetermined overhead rate? Sales During January 2023, Ford issued the following materials requisition forms and labor time tickets Requirement 5: (1 point each) Which financial statement is work in process inventory reported on? Which financial statement is finished goods inventory reported on? Which financial statement is cost of goods sold reported on? During January 2023, Ford started Jobs 310,311 and 312. Ford completed jobs 307, 309 and 310. Job 307 and 309 were sold to customers at the amount bid in their customer contracts. Job 307 had a contract price of $35,000 and Job 309 was $11,000. The sales transaction for Job 310 has not yet been completed as of 1/31/23 as it is pending final inspection from city inspectors. Requirement 3:2 points for each job cost sheet Complete the job cost sheets for all the jobs 307, 309, 310, 311, 312. These are found on pages 3 through 7 of this parket. Ford Construction Job Cost Sheet JUD DEDGIPLIUII. IVEVV DIIIIII NUUIII TIUUI Ford Construction Job Cost Sheet Ford Construction Job Cost Sheet Ford Construction Job Cost Sheet Ford Construction Job Cost Sheet Job No: 307 Date: 1/6/23 Field supervisor signature: Boss B. Me Ford Construction Materials Requisition Form M-680 Job No: 310 Date: 1/6/23 Field supervisor signature: Boss B. Me Ford Construction Materials Requisition For M-681 Job No: 311 Date: 1/13/23 Ford Construction Weekly Time Summary 2023-W2 Ford Construction Weekly Time Summary 2023-W3 Cost to Job 307 Cost to Job 310 Cost to Job 310 Cost to Job 311 Cost to Job 312 Cost to Job 311 Ford Construction Weekly Time Summary Cost to Job 310 [ Cost to Job 311 E Cost to Job 312 Field supervisor signature: Boss B. Me Ford Construction Weekly Time Summary Cost to Job 307 Cost to Job 309 Cost to Job 310 Requirement 1: (2 points) What is Ford's 12/31/22 balance of Work In Process Inventory on the Finished Goods Inventory balance sheet? Ford Construction estimates the following costs for 2023 : Direct labor $773,740(35,170 hours at $22 per hour ) Cost of Goods Sold Manufacturing overhead $295,428 Ford uses direct labor hours to assign manufacturing overhead costs to jobs. Round to the nearest cent. Requirement 2: ( 2 paints)_What is Ford's 2023 predetermined overhead rate? Sales During January 2023, Ford issued the following materials requisition forms and labor time tickets Requirement 5: (1 point each) Which financial statement is work in process inventory reported on? Which financial statement is finished goods inventory reported on? Which financial statement is cost of goods sold reported on? During January 2023, Ford started Jobs 310,311 and 312. Ford completed jobs 307, 309 and 310. Job 307 and 309 were sold to customers at the amount bid in their customer contracts. Job 307 had a contract price of $35,000 and Job 309 was $11,000. The sales transaction for Job 310 has not yet been completed as of 1/31/23 as it is pending final inspection from city inspectors. Requirement 3:2 points for each job cost sheet Complete the job cost sheets for all the jobs 307, 309, 310, 311, 312. These are found on pages 3 through 7 of this parket. Ford Construction Job Cost Sheet JUD DEDGIPLIUII. IVEVV DIIIIII NUUIII TIUUI Ford Construction Job Cost Sheet Ford Construction Job Cost Sheet Ford Construction Job Cost Sheet Ford Construction Job Cost Sheet Job No: 307 Date: 1/6/23 Field supervisor signature: Boss B. Me Ford Construction Materials Requisition Form M-680 Job No: 310 Date: 1/6/23 Field supervisor signature: Boss B. Me Ford Construction Materials Requisition For M-681 Job No: 311 Date: 1/13/23 Ford Construction Weekly Time Summary 2023-W2 Ford Construction Weekly Time Summary 2023-W3 Cost to Job 307 Cost to Job 310 Cost to Job 310 Cost to Job 311 Cost to Job 312 Cost to Job 311 Ford Construction Weekly Time Summary Cost to Job 310 [ Cost to Job 311 E Cost to Job 312 Field supervisor signature: Boss B. Me Ford Construction Weekly Time Summary Cost to Job 307 Cost to Job 309 Cost to Job 310