Kenworth Company uses a job order costing system. Only three jobs Job 105, Job 106, and Job 107-were worked on during November and December. Job 105 was completed on December 10, the other two jobs were still in production on December 31, the end of the company's operating year. Data from the job cost sheets of the three jobs follow: Job Cost Sheet Job 105 Toh 106 Yoh 107 0 ovember costs incurred: Direct materials Direct Labour Manufacturing overhead December costs incurred; Direct materials Direct labour Manufacturing overhead $17,700 $10,500$ $14,200 $ 8,200 $ $22,720 513,120 S 0 $ 0$ 3,800 $ 23,700 $ 4,90 % 6,600 $ 11,200 ? 2 The following additional information is available: a. Manufacturing overhead is applied to jobs on the basis of direct labour cost. b. Balances in the inventory accounts at November 30 were as follows: Raw Materials Work in Process Finished Goods $49,600 7 $91,000 Required: 1. Prepare T-accounts for Raw Materials, Work in Process, Finished Goods, and Manufacturing Overhead. Enter the November 30 inventory balances given above: In the case of Work in Process, compute the November 30 balance and enter it into the Work in Process Taccount Raterials Work in Process Saved Help w 1. Prepare Taccounts for Raw Materials. Work in Process. Finished Goods, and Manufacturing Overhead. Enter the November 30 Inventory batances given above. In the case of Work In Process, compute the November 30 balance and enter it into the Work in Process Toccount Raw Mate Work in Process Beg Bog Bal End Elal End Bal Finished Goods Manufacturing Overhead beg Ba Bog Bal End Bar 0 End Bal Batanes & Wiges Payable Accounts Payable Boy w Beg Bal End B End Bal ? Palent for her as follow Hele 2. Prepare journal entries for December as follows: a. Prepare an entry to record the issue of materials into production and post the entry to appropriate accounts. In the case of direct materials. It is not necessary to make a separate entry for each job) Indirect materials used during December totalled $4,900. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction that 13 Journal entry worksheet Record the issue of materials into production and Indirect materials used during December totalled $4,900. General Journal Debit Ent 1 Credit Record Cleantry View general journal de Prepare an entry to record the incurrence of labour cost and post the entry to appropriate T-accounts. In the case of direct labour cost it is not necessary to make a separate entry for each job.) Indirect labour cost totalled $9.200 for December. Of no entry is required for a transaction/event, select "No journal entry required in the first account field.) Journal entry worksheet A Record the Incurrence of labour cost and Indirect labour cost totalled $9,200. Event General Journal Debit Credit Record entry Clear entry View general journal Hei Prepare an entry to record the incurrence of $20,620 in various actual manufacturing overhead costs for December credit Accounts Payablet Post this entry to the appropriate Taccounts. If no entry is required for a transaction/event, select "No journal antry required in the first account field.) View transactions Journal entry worksheet Record the entry for actual manufacturing overhead costs for December, Note: Enter de beton credits General Journal Debit Credit 1 Record entry Clear entry View general Journal 3- What apparent predetermined overhead rate does the company use to assign overhead cost to jobs? 3-b. Prepare a journal entry to record the application of overhead cost to jobs for December (it is not necessary to make a separate entry for each job). Post this entry to the appropriate T-accounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction lit Journal entry worksheet Record the entry to show the transfer of work in process to finished goods General Journal Debit Credit Record entry Clearntry View general journal General Journal Debit Cream 8 1 44.00 Record Clear entry View general journal 5. Determine the balance at December 31 in the Work in Process inventory account. How much of this balance consists of costs changed to Job 106? Job 1072 Job 100 Job 107 Total Duc materials Direct labour Mansactumg overhead Total cost 5 0$ 03 0