I know this is a lot of parts but not all has to be answered I can ask another question. The reason I put it together like this is so I can ask a follow up question as the first answers add up to the rest. But thank you overall in advance!!
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 yeer, the company used a cost formula to estimate that it would incur $4.170,000 in manufacturing overhead cost at an activity level of 556,000 machine-hours. The company spent the entire month of January working on a large order for 12,800 custom-made machined parts. The company hed Journal entry worksheet no work in process at the beginning of January. Cost data relating to January follow: 2 3 5 6 a, Row materials purchased on account, $320,090. b. Rew materials used in production, $258 000 (80%% direct materials and 20% indirect materials). c Labor cost accrued in the factory. $171090 (one-third direct labor and two-thirds indirect labor Raw materials purchased on account, $320,000. J. Depreciation recorded on factory equipment, $63,600. ". Other manufacturing overhead costs Incurred on account, $84,600 L Manufacturing overhead cost was applied to production on the basis of 40,730 machine-hours actually worked during the month. g. The completed job for 12,800 custom-made machined parts was moved into the finished goods warehouse on January 31 to await delivery to the customer. In computing the dollar amount for this entry, remember that the cast of a completed job consists of direct Note: Enter debits before credits. materials, direct labor, and applied overhead.I Transaction Goneral Journal Dobit Credit Required: 1. Prepare journal entries to record items feb through () above (ignore hem (gi for the moment. a, 2. Prepare T-accounts for Manufacturing Overhead and Work In Process. Post the relevant Items from your journal entries to these T- accounts, 3. Prepare a journal entry for nem () above. 4. If 10,900 of the custom-made machined parts are shipped to the customer in February how much of this joe's cost will be induded in cost of goods sold for February? Complete the question by entering your answers In the tabs below. Required 1 Required 2 Required 3 Required 4 Record entry Clear entry View general Journal Prepare journal entries to record Items (a) through ($) above (Ignore item [o) for the moment]. {If no entry is required for a transaction/event, select "No journal entry required" In the first account field. Do not round intermediate calculations) Manufacturing Overhead Work In Process Credit Journal entry worksheet Dobit Credit Debit Record the entry to transfer from WIP to Finished goods. Ending Balance Ending Balance Note: Enter debits before credits. Transaction General Journal Dobit Credit Required 1 Required 2 Required 3 Required 4 9. If 10,900 of the custom-made machined parts are shipped to the customer in February, how much of this job's cost will be Included In cost of goods gold for February? (Round your intermediate calculations to 2 decimal places and final answer to the nearest whole dollar amount.] Portion of job cost included in cost of goods sold Record entry Clear entry View general Journal