Kenworth Company uses a job-order costing system. Only three jobs-Job 105, Job 106, and Job 107-v November and December. Job 105 was completed on December 10; the other two jobs were still in pros end of the company's operating year. Data from the job cost sheets of the three jobs follow: 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: Required: 1. Prepare T-accounts for Raw Materials, Work in 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 , th end of the company's operating year. Data from the job cost sheets of the three jobs follow: 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: 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 T-account. b. Prepare an entry to record the incurrence of labour cost, and post the entry to appropriate T-accounts. (In the case cost, it is not necessary to make a separate entry for each job.) Indirect labour cost totalled $10,400 for December. (If required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the incurrence of labour cost and Indirect labour cost totalled $10,400. Note: Enter debits before credits. 3- a. What apparent predetermined overhead rate does the company use to assign overhead cost to jobs? c. Prepare an entry to record the incurrence of $19,700 in various actual manufacturing overhead costs for December (credit Accounts Payable). Post this entry to the appropriate T-accounts. (If no enery is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the entry for actual manufacturing overhead costs for December. Note: Enter debits before credits. 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 T-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 $5,800. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the issue of materials into production and Indirect materials used during December totalled $5,800. Note: Enter debits before credits. 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.) Journal entry worksheet Record the entry to record the application of overhead cost to jobs for December. Note: Enter debits before credits. 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 T-account. 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 T-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 $5,800. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the issue of materials into production and Indirect materials used during December totalled $5,800. Note: Enter debits before credits. 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: 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: 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 T-account. Required: 1. Prepare T-accounts for Raw Materials, Work in Process, Finished Goods, and Manufacturing Overhead. Enter the Nov inventory balances given above; in the case of Work in Process, compute the November 30 balance and enter it into the Process T-account. 4. As stated earlier, Job 105 was completed during December. Prepare a journal entry to show the transfer of this job off the production line and into the finished goods warehouse. Post the 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.) Journal entry worksheet Record the entry to show the transfer of work in process to finished goods. Note: Enter debits before credits. 3- a. What apparent predetermined overhead rate does the company use to assign overhead cost to jobs? 5. Determine the balance at ecember 31 in the Work in Process inventory account. How much of this balance co charged to Job 106? Job 107