here is the repost in clear quality. hopefully you can see it.
All factory overhead info is posted under the trial balance and the DHL is $8.40
Maria Young is the sole stockholder of Purl of Great Price Company (POGP Company), which produces high-end knitted sweaters and sweater vests for sale to retail outlets. The company started in January of the current year and employs three knitters (each of whom work 40 hours per week) and one office manager/knitting supervisor (this employee works 20 hours per week as office manager, and 20 hours per week as knitting supervisor). All wages are paid in cash at the end of each month. Each knitter has a knitting machine that is used about 2/3 of the knitter's time, the rest of the knitter's time being involved in hand knitting and piecing together the garments. The company also has a packaging machine used to wrap the garments in plastic for shipping, which is operated by the office manager/knitting supervisor approximately 5 hours per week. The knitting machines were purchased on January 1 of the current year, and cost $2,400 each, with an anticipated useful life of 10 years and no salvage value. The packaging machine was purchased on the same date and cost $4,800, with the same anticipated useful life and salvage value. Required: 1. Review the data in the Pre-Determined Factory overhead panel and compute the predetermined factory overhead rate for POGP Company. 2. On December 10, POGP Company receives an order for 200 sweater vests and assigns Job 83 to the order. Review the Materials requisitions panel. A. Journalize the entry to record the addition of the materials to Work in Process. * B. On the Job cost sheets panel, add the materials to the Job Cost Sheet for Job 83. 3. On December 15, review the source documents on the Time Tickets panel. A. Journalize the entry to record the addition of direct labor to Work in Process for the period December 1 through December 15.* B. Journalize the entry to record the addition of factory overhead to Work in Process for the period December 1 through December 15.* Required: C. On the Job Cost Sheets panel, add the appropriate amount of direct labor and factory overhead costs to the Job Cost Sheet for Job 62 for the period December 1 through December 15. 4. On December 21, Job 62 is completed. Review the Job Cost Sheets panel and your journal entries. Journalize the entry to move the associated costs to the Finished Goods account. * 5. On December 22, 75 of the 100 sweaters from Job 62 are sold on account for $125 each. Journalize the following transactions:* A. The entry to record the sale. B. The entry to record the transfer of costs from Finished Goods to Cost of Goods Sold. 6. On December 31, the last work day of the year for the knitters, review the source documents on the Time Tickets panel. A. Journalize the entry to record the addition of direct labor to Work in Process for the period December 16 through December 31.* B. Journalize the entry to record the addition of factory overhead to Work in Process for the period December 16 through December 31.* C. On the Job Cost Sheets panel, add the appropriate amount of direct labor and factory overhead costs to the Job Cost Sheet for Job 83 for the period December 16 through December 31. 7. On December 31, journalize the following transactions. * Note that expenses (B), (C), and (D) were paid in cash. A. One month's depreciation on equipment B. One month's payroll for all employees C. One month's rent of $1,500 D. One month's utilities of $1,275 110 112 117 CHART OF ACCOUNTS POGP Company General Ledger ASSETS Cash Accounts Receivable Supplies Materials Work in Process 120 Finished Goods Equipment 126 Accumulated Depreciation-Equipment LIABILITIES 118 119 125 210 Accounts Payable 211 Wages Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends 313 Income Summary REVENUE 410 Sales EXPENSES 510 Cost of Goods Sold 520 Factory Overhead 525 Wages Expense Nov. 30th Trail Balance POGP Company UNADJUSTED TRIAL BALANCE November 30, 20Y8 ACCOUNT TITLE DEBIT CREDIT 1 Cash 20,000.00 2 Accounts Receivable 1,000.00 3 Supplies 200.00 4 Materials 5,000.00 5 Work in Process 5,404.00 6 Equipment 12,000.00 7 Accumulated Depreciation Equipment 825.00 ACCOUNT TITLE 8 Accounts Payable 9 Common Stock 10 Retained Earnings 11 Dividends 12 Sales 13 Cost of Goods Sold 14 Factory Overhead 15 Wages Expense DEBIT CREDIT 150.00 10,000.00 12,000.00 18,096.00 307,500.00 255,040.00 15.00 13,750.00 330,490.00 330,490.00 16 Totals Predetermined Factory Overhead Rate Since the company is more reliant on labor than machines, Maria decides to use direct labor hours (DLH) as the activity base or her predetermined factory overhead rate, rather than #machine hours (MH). Estimated Selected Amounts for the Year Estimated depreciation on equipment $1,200.00 Estimated total Office Manager/Knitting Supervisor wages $36,000.00 Estimated office utilities $3,000.00 Estimated factory utilities $4,800.00 Estimated factory rent $18,000.00 Activity Base Data Estimated number of DLH for the year 5,000 Estimated number of MH for the year 3,500 Compute the predetermined factory overhead rate for the current year. If required, round your answers to the nearest cent. $8.40 per DLH Materials Requisition Date: Dec 10 Materials Requisition Reg. No. 12255 Description Yarn Type B Job No.83 QTY. Issued 600 Skeins Unit Price $5.00 Total Issued Amount $3,000 $3,000 Time Tickets Name: Susan Blake No. 1255 Knitting/Piecing Time Ticket Work Description Date 12/01-12/15 12/16-12/31 Job No. 62 83 Hours Worked 65 103 Unit Price $15.00 $15.00 Total Cost Amount $975.00 $1,545.00 $2,520.00 Name: Josh Porter No. 2274 Knitting/Piecing Time Ticket Work Description Date 12/01-12/15 12/16-12/31 Job No. 62 83 Hours Worked 75 88 Unit Price $15.00 $15.00 Total Cost Amount $1,125.00 $1,320.00 $2,445.00 Name: Mary Jones No. 3923 Knitting/Piecing Time Ticket Work Description Date 12/01-12/15 12/16-12/31 Job No. 62 83 Hours Worked 60 109 Unit Price $15.00 $15.00 Total Cost Amount $900.00 $1,635.00 $2,535.00 Job Cost Sheets Add the amounts in requirements 2(B), 3(C), and 6(C) to the appropriate areas of the following job cost sheets. If there is no amount or an amount is zero, enter "0". If required, round your answers to the nearest cent. Job 62 100 units: Direct Materials Sweaters Direct Labor Total Balance Dec. 1 Dec. 15 Total Cost $5,000 $ $ $300 $ $ Factory Overhead $104 $ $ Unit Cost $5,404 $ $ $ Job 83 200 units: Sweater Vest Direct Materials Direct Labor Total Balance Dec. 1 Dec. 10 Dec. 31 Total Cost $0 $ $ $ $0 $ $ $ Factory Overhead $0 $ $ $ $0 $ $ $ Journal Journalize the entries in requirements 2-8. Refer to the Chart of Accounts for exact wording of account titles. Date Description Post. Ref. Debit Credit 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 Final Question What are the balances in the following accounts as of December 31? Materials $ Work in Process $ Finished Goods $ Factory Overhead Cost of Goods Sold $ $ Predetermined Factory Overhead Rate Since the company is more reliant on labor than machines, Maria decides to use direct labor hours (DLH) as the activity base or her predetermined factory overhead rate, rather than + machine hours (MH). Estimated Selected Amounts for the Year Estimated depreciation on equipment $1,200.00 Estimated total Office Manager/Knitting Supervisor wages $36,000.00 Estimated office utilities $3,000.00 Estimated factory utilities $4,800.00 Estimated factory rent $18,000.00 Activity Base Data Estimated number of DLH for the year 5,000 Estimated number of MH for the year 3,500 Compute the predetermined factory overhead rate for the current year. If required, round your answers to the nearest cent. $8.40 per DLH