Managerial Accounting - Job Order Costing Project

Need help with Excel Workbook & Transactions Page, Please & Thank You!!!!!! :)

Pictures of instructions and transactions page with information for excel workbook are at the bottom.

Need help with the excel workbook which include:

1. Job #1 cost sheet

2. Job # 2 cost sheet

3. General Journal

4. General Ledger aka T Accounts

5. Schedule cost of goods manu, schedule cost of goods sold & income statement.

Instructions & Transactions Page (Pictures Posted Below) Steps 1-8.

B3 & fx A General Journal Description Date Debit Credit General Journal Job #1 Cost Sheet Job #2 Cost Sheet T-accounts (General Le Ready Review View Insert -X cut Copy Format Page Layout Formulas Data Calibri (Body) - 11 - A- A B IU .L .S.A. Wrap Text General + Merge & Center $ % Direct Materials: Dule completed Menu Overhead 1 General Journal Job 1 Costs Job 2 Cost Sheet T-accounts (General Ledger) Schedule of COG Ready Copy Format BIU . L. S.A. E =3 M erge & Center Direct Materials General Journa J ob Cost Sheet Job 2 Cost Sheet T accounts General Ledger) Schedule Ready x fx 8 C D E F G H I J Account Receivables Accounts Payable Cost of Goods Sold Salaries and Wages Expense Finished Goods Accumulated Degredator General Journal Job #1 Cost Shoot Job #2 Cost Sheet T-accounts (General Ledger) Ready Review View Page Layout Formulas Data - 10 -A- A BIU.L.S.A Arial Insert X Cut Copy Format x V = = = 33 33 5 Wrap Text Merge & Center. Accounting $ . % ) Formatt C D Income Statement Schedule of cost of goods manufactured For the month Ended December 31, 20XDX Cost of goods sold For the month Ended December 31, 200X General Journal Job Cost Sheet Job 2 Cost Sheet Taccounts General Ledger Schedule of COOM, COGS & Income teady Question Completion Status: 1-Dec Raw Materials purchased on account, $15,000. 5-Dec All Raw Materials needed for Job #1 were requisitioned from the material storage for use during the month. Assume all materials are direct. (After you journalize this entry please enter the information into Job #1 Cost Sheet) 10-Dec The following employee costs were incurred but not paid during the month: There are three assembly employees that spend 2 hours each, $25 per hour to make the table for Job #1. (After you journalize this entry please enter the information into Job #1 Cost Sheet) Salary for supervisor of the factory $3,000. Administrative Salary $2,000. 15-Dec All Raw Materials needed for Job #2 were requisitioned from the material storage for use during the month. Assume all materials are direct. (After you journalize this entry please enter the information into Job #2 Cost Sheet) 16-Dec 17-Dec Rent for the month of December for the factory building incurred but not paid $1,100. Advertising costs incurred but not paid for the month was $1,600 20-Dec Depreciation for the month of December was recorded on equipment was $750 ($150 for equipment used in the factory and the remainder for equipment used in selling and administrative activities). 22-Dec Manufacturing overhead cost was applied based on direct labor hours to job w1 based on the POHR determined on the "Job Cost Sheet". (After you journalize this entry please enter the information into Job #1 Cost Sheet) 26-Dec Job #1 was completed and transferred to Finished Goods during the month. 28-Dec The completed table from Job #1 was sold on account to the customer for $20,000 during the month. (Hint: Make sure to account for the cost of the table that was sold using the cost from the job cost sheet.) 31-Dec Direct labor cost incurred but not paid for three employees to start manufacturing Job #2. The employees only worked one hour each, three hours total, $25 per hour during the month and they did not complete their work on the job. (After you journalize this entry please enter the information into Job #2 Cost Sheet) Question Completion Status: Step 8 Answer the additional questions below Check Figure: Cost of Goods Manufactured=$5,350, Net operating income $9,350 What is the ending balance for raw materials? What is the ending balance for work in process? What is the ending balance for finished goods? What is the actual manufacturing overhead cost incurred during December before adjustment? What is the total applied manufacturing overhead cost during December before adjustment? What is the unadjusted cost of goods sold? Was the manufacturing overhead for the month of December overapplied/underapplied ? What is the amount of Manufacturing overhead overapplied/underapplied? What is the adjusted cost of goods sold? What is gross margin? What is the total prime cost for Job#1? What is the total conversion cost for job #1? What is the total product cost for job#1? What was the period cost incurred for the month of December? What is the total variable cost incurred for Job #1(assume that all selling and administrative cost and all manufacturing overhead costs are fixed.)? What is the contribution margin for Job #1 (assume that all selling and administrative cost and all manufacturing overhead costs are fixed.)? What would be the actual (not applied) total fixed manufacturing overhead cost incurred for the company for the month if the order in Job #1 is for five tables instead of one table assuming this cost is with in the relevant range