In the Customer Computers segment, Nerdry uses job order costing. It assigns direct materials (OM) and direct labor (DL) to each job and allocated overhead (OH) to jobs based on a predetermined overhead allocation rate, computed as a percentage of direct labor costs. Req2 At the beginning of the year, the controller prepared the following budget MOH S 290,000 DL Costs 145,000 Labor Rate 32 During September, Nerdry worked on several different custom computer jobs with records in the table below: Job Records for September Job 248 Job 249 Job 250 Job 251 Job 252 DL Hours 290 122 100 99 250 DM $ 24,843 $ 2,548 $ 4,831 $ 2,155 $ 18,435 Completed in Q1 Yes Yes No No Yes Quoted Sales Price 79654 21654 18946 10542 62467 Credit Cash DM Costs DL Costs MOH Total Cost Req3 Sale Type Nerdey also provided the additional information below for you to reference Additional Information Plant Janitorial wages $ 15489 Sales Salaries Expense 18,543 Delivery Expense 1,500 Utilities for Plant paid immediately 45,806 Rent on Plant paid immediately 6,569 Customer Service Hotline Costs 8,190 Plant Supervisor Wages 5,043 Plant Insurance Previously Paid 2.436 Plant Prop Taxes incurred (not paid) 3,457 Indirect Materials used during month 8,743 RM Purchased 124,648 RM Beg Bal 12,546 Requirements 1. Compute Nerdey Computer Company's predetermined OH allocation rate for this year. 2. Compute the total cost for each job. 3. Prepare Joumal Entries for all of the jobs that were worked on in Q1 including costs associated with the jobs, accumulation of overhead, allocation of overhead, completion of jobs, sales transactions & adjusting overhead (pay attention to the transaction descriptions to help guide which journal entry you are completing) Req1 Compute Nerdzy Computer Company's predetermined OH allocation rate for this year. Predetermined OH Rate Req2 Compute the total cost for each job. Job 248 Job 249 Job 250 Job 251 Job 252 DM Costs DL Costs MOH Total Cost 7 Req3 Prepare Journal Entries for all of the jobs that were worked on in Q1 Purchased row materials on account Transferred direct and indirect materials to production. Assigned labor to monthly production Paid plant utilities Paid rent on plant with you To record insurance expense To accrue taxes. To record insurance expense To accrue taxes. Allocated overhead to jobs in progress Transferred Completed jobs to finished goods inventory To record sale of Job 248 (Hint: record sales transaction first and then inventory transaction next) To record sale of Job 252 Adjusted Manufacturing Overhead Accounts Payable Accounts Receivable Accumulated Depletion Accumulated Depreciation Administrative Expenses Advertising Expense Allowance for Bad Debts Amortization Expense Available-for-Sale Debt Investments Bad Debts Expense Bank Expense Bonds Payable Building Cash Cash Short & Over Common Stock Common Stock Dividend Distributable Copyright Cost of Goods Sold Credit Card Expense Delivery Expense Depletion Expense Depreciation Expense Discount on Bonds Payable Discount on Bonds Payable Dividend Revenue Dividends Dividends Payable Employee Bonus Expense Employee Bonus Payable Employee Income Taxes Payable Equipment Equity Investments Estimated Returns Inventory Estimated Warranty Payable Fair Value Adjustment - Available-for-Saleh Fair Value Adjustment - Trading Federal Unemployment Taxes Payable FICA - Medicare Taxes Payable FICA - OASDI Taxes Payable Finished Goods Inventory Franchise Freight In Furniture Gain on Disposal Gain on Retirement of Bonds Payable Goodwill Held-to-Maturity Debt Investments Income Summary Income Tax Expense Income Tax Payable Insurance Expense Interest Expense Interest Payable Interest Receivable Interest Revenue Land Land Improvements Loss on Disposal Manufacturing Overhead Merchandise Inventory Mortgages Payable Natural Resources Notes Payable Notes Receivable Office Furniture Office Supplies Owner's Capital Owner's Withdrawals Paid-In Capital From Treasury Stock Transactions Paid-In Capital in Excess of Par - Common Paid-In Capital in Excess of Par - Preferred Paid-In Capital in Excess of Stated - Common Patent Payroll Tax Expense Petty Cash Preferred Stock Premium on Bonds Payable Prepaid Insurance Prepaid Rent Property Tax Payable Purchase Discounts Purchase Returns and Allowances Purchases Raw Materials Inventory Refunds Payable Rent Expense Rent Payable Repairs and Maintenance Expense Retained Earnings Revenue From Investments Salaries (and Wages) Expense Salaries (and Wages) Payable Sales Discounts Forfeited Sales Revenue Sales Tax Payable Service Revenue State Unemployment Taxes Payable Supplies Expense Trademark Trading Debt Investments Treasury Stock - Common Truck Unearned Revenue Unrealized Holding Gain - Available-for-Sale Unrealized Holding Gain - Fair Value Unrealized Holding Loss Available-for-Sale Unrealized Holding Loss - Fair Value Truck Unearned Revenue Unrealized Holding Gain - Available-for-Sale Unrealized Holding Gain - Fair Value Unrealized Holding Loss - Available-for-Sale Unrealized Holding Loss - Fair Value Utilities Expense Utilities Payable Vacation Benefits Expense Vacation Benefits Payable Warranty Expense Work In Process Inventory In the Customer Computers segment, Nerdry uses job order costing. It assigns direct materials (OM) and direct labor (DL) to each job and allocated overhead (OH) to jobs based on a predetermined overhead allocation rate, computed as a percentage of direct labor costs. Req2 At the beginning of the year, the controller prepared the following budget MOH S 290,000 DL Costs 145,000 Labor Rate 32 During September, Nerdry worked on several different custom computer jobs with records in the table below: Job Records for September Job 248 Job 249 Job 250 Job 251 Job 252 DL Hours 290 122 100 99 250 DM $ 24,843 $ 2,548 $ 4,831 $ 2,155 $ 18,435 Completed in Q1 Yes Yes No No Yes Quoted Sales Price 79654 21654 18946 10542 62467 Credit Cash DM Costs DL Costs MOH Total Cost Req3 Sale Type Nerdey also provided the additional information below for you to reference Additional Information Plant Janitorial wages $ 15489 Sales Salaries Expense 18,543 Delivery Expense 1,500 Utilities for Plant paid immediately 45,806 Rent on Plant paid immediately 6,569 Customer Service Hotline Costs 8,190 Plant Supervisor Wages 5,043 Plant Insurance Previously Paid 2.436 Plant Prop Taxes incurred (not paid) 3,457 Indirect Materials used during month 8,743 RM Purchased 124,648 RM Beg Bal 12,546 Requirements 1. Compute Nerdey Computer Company's predetermined OH allocation rate for this year. 2. Compute the total cost for each job. 3. Prepare Joumal Entries for all of the jobs that were worked on in Q1 including costs associated with the jobs, accumulation of overhead, allocation of overhead, completion of jobs, sales transactions & adjusting overhead (pay attention to the transaction descriptions to help guide which journal entry you are completing) Req1 Compute Nerdzy Computer Company's predetermined OH allocation rate for this year. Predetermined OH Rate Req2 Compute the total cost for each job. Job 248 Job 249 Job 250 Job 251 Job 252 DM Costs DL Costs MOH Total Cost 7 Req3 Prepare Journal Entries for all of the jobs that were worked on in Q1 Purchased row materials on account Transferred direct and indirect materials to production. Assigned labor to monthly production Paid plant utilities Paid rent on plant with you To record insurance expense To accrue taxes. To record insurance expense To accrue taxes. Allocated overhead to jobs in progress Transferred Completed jobs to finished goods inventory To record sale of Job 248 (Hint: record sales transaction first and then inventory transaction next) To record sale of Job 252 Adjusted Manufacturing Overhead Accounts Payable Accounts Receivable Accumulated Depletion Accumulated Depreciation Administrative Expenses Advertising Expense Allowance for Bad Debts Amortization Expense Available-for-Sale Debt Investments Bad Debts Expense Bank Expense Bonds Payable Building Cash Cash Short & Over Common Stock Common Stock Dividend Distributable Copyright Cost of Goods Sold Credit Card Expense Delivery Expense Depletion Expense Depreciation Expense Discount on Bonds Payable Discount on Bonds Payable Dividend Revenue Dividends Dividends Payable Employee Bonus Expense Employee Bonus Payable Employee Income Taxes Payable Equipment Equity Investments Estimated Returns Inventory Estimated Warranty Payable Fair Value Adjustment - Available-for-Saleh Fair Value Adjustment - Trading Federal Unemployment Taxes Payable FICA - Medicare Taxes Payable FICA - OASDI Taxes Payable Finished Goods Inventory Franchise Freight In Furniture Gain on Disposal Gain on Retirement of Bonds Payable Goodwill Held-to-Maturity Debt Investments Income Summary Income Tax Expense Income Tax Payable Insurance Expense Interest Expense Interest Payable Interest Receivable Interest Revenue Land Land Improvements Loss on Disposal Manufacturing Overhead Merchandise Inventory Mortgages Payable Natural Resources Notes Payable Notes Receivable Office Furniture Office Supplies Owner's Capital Owner's Withdrawals Paid-In Capital From Treasury Stock Transactions Paid-In Capital in Excess of Par - Common Paid-In Capital in Excess of Par - Preferred Paid-In Capital in Excess of Stated - Common Patent Payroll Tax Expense Petty Cash Preferred Stock Premium on Bonds Payable Prepaid Insurance Prepaid Rent Property Tax Payable Purchase Discounts Purchase Returns and Allowances Purchases Raw Materials Inventory Refunds Payable Rent Expense Rent Payable Repairs and Maintenance Expense Retained Earnings Revenue From Investments Salaries (and Wages) Expense Salaries (and Wages) Payable Sales Discounts Forfeited Sales Revenue Sales Tax Payable Service Revenue State Unemployment Taxes Payable Supplies Expense Trademark Trading Debt Investments Treasury Stock - Common Truck Unearned Revenue Unrealized Holding Gain - Available-for-Sale Unrealized Holding Gain - Fair Value Unrealized Holding Loss Available-for-Sale Unrealized Holding Loss - Fair Value Truck Unearned Revenue Unrealized Holding Gain - Available-for-Sale Unrealized Holding Gain - Fair Value Unrealized Holding Loss - Available-for-Sale Unrealized Holding Loss - Fair Value Utilities Expense Utilities Payable Vacation Benefits Expense Vacation Benefits Payable Warranty Expense Work In Process Inventory