Homework Help with Google Docs er%20Costing.pdf Job Order Costing Name a Nelson Company, which uses a job-order costing system, had the following account balances on January 1 of the current year Raw Materials $18,500 Work in Process $67,200 Finished Goods $88.900 The Work in Process Inventory consisted of three jobs: #401 $14,700: #402 $26,900, and 402 $25,600 The Finished Goods Inventory consisted of two jobs, W399 $42,600 and $400 $46,300 Nelson uses a normal costing system with an overhead rate based ormachine hours. The follodgeted information was available for 2020: Annual overhead costs $225.000 and machine hours 50.000 During the current year, the following transactions took place: Raw materials costing $120,000 were purchased on account b Total factory labor charges accrued were $375,000 c A summary of material reguisitions and time tickets appeared as follows: Time Tickets Machine Material Labor Lahor Hours Job No. Requisitions Hours Cost 401 $9.200 6003 14.400 4.700 402 8.700 1,100 26,400 5.300 403 10.600 1,400 33,600 3,800 404 11.200 2.200 52.800 9.200 405 15,700 3.000 22.000 10,700 406 18,000 2.100 67.2001 12.000 407 7,800 19,200 2.100 408 12.100 1,100 26,400 3.200 sub-total $94.200 13,000 S 312,00) $1,000 Indirect 6.800 63,000 Total S101.000 S 375.000 d. Other factory costs include $76,000 of depreciation on factory equipment, $22.000 of expired factory insurance $12,000 of accrued property taxes and S45,000 of miscellaneous factory costspaid in cash. Job Nos 401, 402, 404,406, and 40 were completed, Job Nos. 399 400 402, 406, and 408 were sold for a total of S700.000) cash REQUIRED: A. What is the pre-determined annual overhead rate? B Complete the attached cost flow diagram and job order cost sheets. Be sure to enter the beginning balances of the inventory accounts and be sure to compute ending balances for all accounts. C Prepare all of the required journal entries for the year 2020 in the attached general journal D. Verify the ending balance of the work-in-process and finished goods inventories by reconciling the balances to the appropriate job cost sheets-make sure that you show this step E. Prepare the manufacturing statement and a partial income statement through gross profit) for the year N00 O Ri e Costing C Get Homework Help With C X 5 Google Docs Raw Materials Inventory Work in Preces Inventory Factory Payroll Finished Geninventory Co of Goode Solid Espre Factory Overhead JOB NO. DM DE 011 TON NO. Beg DM DL OH Total ROB NO. Rex DM DI 011 Total BONO Ber DM DI OH JOR NO Beg DM DL ON Total JOB NO. Beg DM DI Foll Total OR NO Beg DM DI ON DONNE Bes DM DI ol Total JOB NO Beg DM DI ON Total JOB NO. Beg DM DE 011 GENTERRA CHINEKARNA