I need help finding out what the work in process & manufacturing overhead is for the journal entry next to the letter h. I also need all the T- accounts filled out, please. Youll be rewarded so much :)
Carpenter Camices, Ltd., produces a wide varlety of comice moldings for windows at a plant located in Evergreen Park, Illinois. Because there are hundreds of products, some of which are made only to order, the company uses a job-order costing system. On July 1, the start of the company's fiscal year, inventory account balances were as follows: $12,800 Raw materials Work in process$ 6,800 Finished goods $10,500 The company applies overhead cost to jobs on the basis of machine-hours. Its predetermined overhead rate for the fiscal year starting July 1 was based on a cost formula that estimated $200,600 of manufacturing overhead for an estimated activity level of 59,000 machine-hours. During the year, the following transactions were completed (Assume all purchases and services were acquired on account): a. Raw materials purchased on account, $204,000. b. Raw materials requisitioned for use in production, $165,000 (materials costing $154,000 were chargeable directly to jobs; the remaining materials were indirect). c Costs for emplayee services were incurred as follows: Direct labor Indirect labor Sales commissions Administrative salaries $112,000 S 48,800 S 35,000 S 54,000 d. Prepaid insurance expired during the year, $28,500 ($17,900 of this amount related to factory operations, and the remainder related to selling and administrative activities). e. Ubity costs incurred in the factory, $26,000. f. Advertising costs incurred, $15,000. g. Depreclation recorded on equipment, $40.000. ($26,000 of this amount was on equipment used in h, Manufacturing overhead cost was applied to jobs. (The company recorded 30,000 machine- Goods that had cost $328,000 to manufacture according to their job cost sheets were completed. factory operations, the remaining $14,000 was on equipment used in selling and administrative activities.) hours of operating time during the year.) $327,000 to manufacture according to their job oost sheets. .Sales (all on acoount) to customers during the year totaled $619.000. These goods had cost 1. Prepare journal entries to record the transactions for the year. (If no entry is required for a transactionievent, select "No journat entry required In the first account field.)