I need help with #10 and #11 on the first picture.
Answers for #1-9 are on the last 4 pictures.
This is ALL the information given, thank you. 
IT PUNDIT Using a spreadsheet and based on the requirements: 1. Determine the predetermined overhead rate. 2. Determine the total number of robots to account for. 3. Prepare an equivalent unit's schedule. The schedule should follow the format below; you may add additional information if you would like. Whole Equivalent Units Units (Actual) Conversion Costs Direct Materials Plastic Parts XXX Direct Material Motor XXX Direct Material Wheels XXX XXX Beginning Start/Completed XX XXX XXX XXX XXX XXX XXX XXX XXX XXX Completed/ Transferred Out Ending XXX XXX XXX xxx XXX 4. Determine the total cost for the plastic and the unit amount for the plastic for one robot. 5. Determine the total cost for the motors and the unit cost for each motor. 6. Determine the total cost for the wheels and the unit cost for the wheels for the robot. 7. Determine the total conversion cost and the conversion cost per robot. 8. Determine the total equivalent cost per robot. 9. Prepare a Cost of Production report. This report should show all costs transferred into Work-in- Process and the costs transferred to Finished Goods. This process uses FIFO costing. 10. Determine the amounts for the following. wensen a) Ending Work-in-Process Inventory in Units AND Dollars b) Ending Finished Goods Inventory in Units AND Dollars c) Cost of Goods Sold d) Over/Under Applied Manufacturing Overhead e) Gross Margin f) Income from Operations g) Net Income 11. Prepare the necessary Journal Entries related to the manufacturing cycle for this accounting period. Prepare journal entries for the accounting period. Use the account numbers in the chart of accounts, below, instead of the accounts names when writing the journal entries. 8 Page Chart of Accounts 10000 Cash 11000 Accounts Receivable 12000 DM Plastic 12100 DM Motor 12150 DM Wheels 15000 Work-In-Process WIP 15050 Factory Overhead 16000 Finished Goods FG 20000 Wages Payable 40000 Sales 50000 COGS a. In the first journal entry record the purchase of the plastic, motors, and wheels using accounts payable. b. Record the materials transferred to WIP. Again use one journal entry to record the transfer of the plastic, motors and wheels. c. Record the direct labor into WIP using wages payable. d. Record the applied FOH. e. Record the actual FOH using cash. f. Record the over or under applied FOH. Record the sale of the goods on account along with the cost of the inventory that was sold. Combine both into one journal entry showing the sale first and inventory second. Blackboard Instructions for Part Two Add information concerning numbers here and enter into Blackboard as specified below a. When the answer is in units enter the number as is (See example below) ii. 280 b. When the answer is for ratios (ie. %) and it has a decimal take the decimal out to two spaces (See example below) iii. 280.89 C. When ratios are in days/times take out to two decimal places (See example below) iv. 280.96 days d. When the answer is in dollars ALWAYS include a dollar sign and cents even if the cents is zero add.00 (See example below) v. $280.00 or $3,800.00 e. When there is a single journal entry enter information EXACTLY as is below in the sequence of Dr/Cr, Account Number, and amount (note the signs, decimals, spaces, and capital letter) vi. Dr 10000 $280.00 Cr 20000 $280.00 f. When there is a journal entry requiring two debits or credits enter information EXACTLY as is below in the sequence of Dr/Cr, Account Number, amount, and always put the smaller account number FIRST (note the signs, decimals, spaces, capital letters and order of the accounts) Corrected Chart of Accounts for Part II Chart of Accounts 10000 Cash 11000 Accounts Receivable 12000 DM-Plastic 12100 DM - Motors 12150 DM-Wheels 15000 Work-In-Process 15050 Factory Overhead 16000 Finished Goods FG 20000 Accounts Payable 21000 Wages Payable 40000 Sales 50000 COGS Anonymous answered this 2,889 answers Was this answer helpful? 51 Po 1. Overhead rate = $50000 / 100000 = $0.50 per robot Number of robots to account for Beginning Inventory Units started 100000 Total number of robots to account for 100000 Equivalent units Whole Units Direct Materials Plastic Parts Direct Materials Motors Direct Materials Wheels Conversion Costs Beginning Inventory Units 83000 started/Completed Completed/Transferred 83000 83000 83000 83000 83000 83000 out 83000 83000 83000 Ending Inventory 17000 17000 4250 Comment > -C - Out Dashboard X Content " egg.com/homework-h questions-and-answers/corrected-chart-accounts-part-ii-cha hegg Study Textbook Solutions Expert Q&A Study Pack Prac Units started but not completed 17000 (since 0% complete as to motors) Total pounds 83,000 83,000 Therefore total cost of motors used = 83,000 units @ 15 per motor = $1,245,000 Cost of motor per robot = 1245000/83000 = $15 Direct Material - Wheels Particulars Units of Robot Equivalent units of robot Equivalent units of wheels Beginning Inventory Units stared and completed 83000 83000 166000 Units started but not completed 17000 (since 0% complete as to wheels) Total pounds 83,000 166,000 5 per wheel 5830,000 Therefore total cost of wheels used = 166,000 units Cost of motor per robot = 830000/83000 - $10 Kindly up vote Comment > 1) Conversion cost per unit: TABLE 1: Converted units Equivalent Units units of robot Remarks Particulars Beginning inventory Units started and Completed Units started but not Completed Total Units converted 83,000 83.000 17.000 4.250 87.250 25% of units completed as conversion (.e. 25% of 17000) Total direct labor cost - $41.880 Direct - Conversion Cost Per Robot - $41,880/87250 - $0.48 2) Equivalent cost per unit: Given Data: 5 10.63 Total Cost Direct Materials Plastic Direct Materials Motors Direct Materials Wheels Direct Cost - Conversion Indirect Cost - Factory Overhead Cost per Unit $ 1,063,000 Direct Materials Plastic $ 1.245,000 Direct Materials Motors $830,000 Direct Materials Wheels $ 41,880 Direct Cost - Conversion 45,000 $ 15.00 $10.00 Total Direct costs - $1,063,000 $1,245,000 $830,000+ $41,880 - $3.179,880 Overhead percentage 45,000 3.179,880 *100=1.415% Equivalent direct cost per unit - $10.63 + $15.00+ $10.00+ $0.48 - $36.11 Overhead Cost per unit - Direct cost per unit x Overhead percentage - $36.11 x 1.415% - $0.51 Equivalent cost per unit - Direct cost per unit + Overhead cost per unit - $36.11 + $0.51 - $36.62 Hope the same is clear. In case of any clarifications, please leave comment in comments section Please give us a good rating you are satisfied with the response. Was this answer helpful? Do p o Francis Xavier answered this 29 answers Solution to 9: Cost of production in dollars (For one robot) for Jan 1, 2019 to Dec 31, 2019 Direct material cost Plastic pellets 10.63 per pound Motors each Wheels (2 x 5) 9:18 for 2 nos. Manufacturing overhead (50,000/1,00,000) Direct labour cost (41,880/1,00,000) Inventory carrying cost (Thumb rule is 25% of inventory cost) Work in process inventory (I(17000 x 70 x 0.25) x 0.253/83000) Finished goods inventory {(1000 x 70 x 0.25)/83000} 0.90 0.21 37.66 Total Solution to 10: a) Ending work in process inventory = 17000 robots: 1190000 dollars (17000 x 70) b) Ending finished goods inventory 3000 robots: 210000 dollars (3000 x 70) Cost of goods sold = production cost + selling and administrative cost -37.66+1=38.66 dollars per robot d) over applied manufacturing overhead = (50000-45000) /100000 0.05 dollars per robot d) IT PUNDIT Using a spreadsheet and based on the requirements: 1. Determine the predetermined overhead rate. 2. Determine the total number of robots to account for. 3. Prepare an equivalent unit's schedule. The schedule should follow the format below; you may add additional information if you would like. Whole Equivalent Units Units (Actual) Conversion Costs Direct Materials Plastic Parts XXX Direct Material Motor XXX Direct Material Wheels XXX XXX Beginning Start/Completed XX XXX XXX XXX XXX XXX XXX XXX XXX XXX Completed/ Transferred Out Ending XXX XXX XXX xxx XXX 4. Determine the total cost for the plastic and the unit amount for the plastic for one robot. 5. Determine the total cost for the motors and the unit cost for each motor. 6. Determine the total cost for the wheels and the unit cost for the wheels for the robot. 7. Determine the total conversion cost and the conversion cost per robot. 8. Determine the total equivalent cost per robot. 9. Prepare a Cost of Production report. This report should show all costs transferred into Work-in- Process and the costs transferred to Finished Goods. This process uses FIFO costing. 10. Determine the amounts for the following. wensen a) Ending Work-in-Process Inventory in Units AND Dollars b) Ending Finished Goods Inventory in Units AND Dollars c) Cost of Goods Sold d) Over/Under Applied Manufacturing Overhead e) Gross Margin f) Income from Operations g) Net Income 11. Prepare the necessary Journal Entries related to the manufacturing cycle for this accounting period. Prepare journal entries for the accounting period. Use the account numbers in the chart of accounts, below, instead of the accounts names when writing the journal entries. 8 Page Chart of Accounts 10000 Cash 11000 Accounts Receivable 12000 DM Plastic 12100 DM Motor 12150 DM Wheels 15000 Work-In-Process WIP 15050 Factory Overhead 16000 Finished Goods FG 20000 Wages Payable 40000 Sales 50000 COGS a. In the first journal entry record the purchase of the plastic, motors, and wheels using accounts payable. b. Record the materials transferred to WIP. Again use one journal entry to record the transfer of the plastic, motors and wheels. c. Record the direct labor into WIP using wages payable. d. Record the applied FOH. e. Record the actual FOH using cash. f. Record the over or under applied FOH. Record the sale of the goods on account along with the cost of the inventory that was sold. Combine both into one journal entry showing the sale first and inventory second. Blackboard Instructions for Part Two Add information concerning numbers here and enter into Blackboard as specified below a. When the answer is in units enter the number as is (See example below) ii. 280 b. When the answer is for ratios (ie. %) and it has a decimal take the decimal out to two spaces (See example below) iii. 280.89 C. When ratios are in days/times take out to two decimal places (See example below) iv. 280.96 days d. When the answer is in dollars ALWAYS include a dollar sign and cents even if the cents is zero add.00 (See example below) v. $280.00 or $3,800.00 e. When there is a single journal entry enter information EXACTLY as is below in the sequence of Dr/Cr, Account Number, and amount (note the signs, decimals, spaces, and capital letter) vi. Dr 10000 $280.00 Cr 20000 $280.00 f. When there is a journal entry requiring two debits or credits enter information EXACTLY as is below in the sequence of Dr/Cr, Account Number, amount, and always put the smaller account number FIRST (note the signs, decimals, spaces, capital letters and order of the accounts) Corrected Chart of Accounts for Part II Chart of Accounts 10000 Cash 11000 Accounts Receivable 12000 DM-Plastic 12100 DM - Motors 12150 DM-Wheels 15000 Work-In-Process 15050 Factory Overhead 16000 Finished Goods FG 20000 Accounts Payable 21000 Wages Payable 40000 Sales 50000 COGS Anonymous answered this 2,889 answers Was this answer helpful? 51 Po 1. Overhead rate = $50000 / 100000 = $0.50 per robot Number of robots to account for Beginning Inventory Units started 100000 Total number of robots to account for 100000 Equivalent units Whole Units Direct Materials Plastic Parts Direct Materials Motors Direct Materials Wheels Conversion Costs Beginning Inventory Units 83000 started/Completed Completed/Transferred 83000 83000 83000 83000 83000 83000 out 83000 83000 83000 Ending Inventory 17000 17000 4250 Comment > -C - Out Dashboard X Content " egg.com/homework-h questions-and-answers/corrected-chart-accounts-part-ii-cha hegg Study Textbook Solutions Expert Q&A Study Pack Prac Units started but not completed 17000 (since 0% complete as to motors) Total pounds 83,000 83,000 Therefore total cost of motors used = 83,000 units @ 15 per motor = $1,245,000 Cost of motor per robot = 1245000/83000 = $15 Direct Material - Wheels Particulars Units of Robot Equivalent units of robot Equivalent units of wheels Beginning Inventory Units stared and completed 83000 83000 166000 Units started but not completed 17000 (since 0% complete as to wheels) Total pounds 83,000 166,000 5 per wheel 5830,000 Therefore total cost of wheels used = 166,000 units Cost of motor per robot = 830000/83000 - $10 Kindly up vote Comment > 1) Conversion cost per unit: TABLE 1: Converted units Equivalent Units units of robot Remarks Particulars Beginning inventory Units started and Completed Units started but not Completed Total Units converted 83,000 83.000 17.000 4.250 87.250 25% of units completed as conversion (.e. 25% of 17000) Total direct labor cost - $41.880 Direct - Conversion Cost Per Robot - $41,880/87250 - $0.48 2) Equivalent cost per unit: Given Data: 5 10.63 Total Cost Direct Materials Plastic Direct Materials Motors Direct Materials Wheels Direct Cost - Conversion Indirect Cost - Factory Overhead Cost per Unit $ 1,063,000 Direct Materials Plastic $ 1.245,000 Direct Materials Motors $830,000 Direct Materials Wheels $ 41,880 Direct Cost - Conversion 45,000 $ 15.00 $10.00 Total Direct costs - $1,063,000 $1,245,000 $830,000+ $41,880 - $3.179,880 Overhead percentage 45,000 3.179,880 *100=1.415% Equivalent direct cost per unit - $10.63 + $15.00+ $10.00+ $0.48 - $36.11 Overhead Cost per unit - Direct cost per unit x Overhead percentage - $36.11 x 1.415% - $0.51 Equivalent cost per unit - Direct cost per unit + Overhead cost per unit - $36.11 + $0.51 - $36.62 Hope the same is clear. In case of any clarifications, please leave comment in comments section Please give us a good rating you are satisfied with the response. Was this answer helpful? Do p o Francis Xavier answered this 29 answers Solution to 9: Cost of production in dollars (For one robot) for Jan 1, 2019 to Dec 31, 2019 Direct material cost Plastic pellets 10.63 per pound Motors each Wheels (2 x 5) 9:18 for 2 nos. Manufacturing overhead (50,000/1,00,000) Direct labour cost (41,880/1,00,000) Inventory carrying cost (Thumb rule is 25% of inventory cost) Work in process inventory (I(17000 x 70 x 0.25) x 0.253/83000) Finished goods inventory {(1000 x 70 x 0.25)/83000} 0.90 0.21 37.66 Total Solution to 10: a) Ending work in process inventory = 17000 robots: 1190000 dollars (17000 x 70) b) Ending finished goods inventory 3000 robots: 210000 dollars (3000 x 70) Cost of goods sold = production cost + selling and administrative cost -37.66+1=38.66 dollars per robot d) over applied manufacturing overhead = (50000-45000) /100000 0.05 dollars per robot d)
