me build onstructil direct label ents.) b. Because it X s. For the yea i More Info rior's pred a. Purchased materials on account, $460,000 b. Requisitioned direct materials and used direct labor in construction. Recorded the materials requisitioned. Direct Materials Direct Labor House 402 53,000 $ 42,000 House 403 64,000 32,000 House 404 61,000 53,000 House 405 82,000 52,000 c. The company incurred total wages of $200,000. Use the data from Item b to assign the wages. Wages are not yet paid. d. Depreciation of construction equipment, $6,500 e. Other overhead costs incurred: Equipment rentals paid in cash, $36,000; Worker liability insurance expired, $8,000. f. Allocated overhead to jobs. g. Houses completed: 402, 404 h. House sold on account: 404 for $200,000 nter any numb Print Done Clear All Check Ar T 1090 V0852) is based on Custom MyAccountinglab for ACCTG 1090 for Macomb Community College 000 an 4 of 6 (1 complete) HW SC a home builder in Arizona Superior uses a job order costing system in which each house is a job. Because ed Construction Overhead. The company applies overhead based on estimated direct labor costs. For the y total direct labor cost of $3,375,000. The following events occurred during August: e events * Requirements Superior's 1. Calculate Superior's predetermined overhead allocation rate for the year. 2. Prepare journal entries to record the events in the general journal. 3. T-accounts for Work-in-Process Inventory and Finished Goods Inventory have been opened for you. Post the appropriate entries to these accounts, identifying each entry by letter. Determine the ending account balances, assuming that the beginning balances were zero. 4. Add the costs of the unfinished houses, and show that this total amount equals the ending balance in the Work-in-Process Inventory account. 5. Add the costs of the completed house that has not yet been sold, and show that this equals the ending balance in Finished Goods Inventory. 6. Compute gross profit on the house that was sold. What costs must gross profit cover for Superior Construction? Print Done er enter any number in the input fields and then click Check Answer. Clear All Check ACCT 1090 V0852) is based on Custom MyAccountingLab for ACCTG 1090 for Macomb Community College cing Score: 0 of 1 pt 4 of 6 (1 complete) HW Score: 15.96%, P19-30A (similar to) Questic Superior Construction, Inc. is a home builder in Arizona Superior uses a job order costing system in which each house is a job. Because it constructs hou company uses an account titled Construction Overhead. The company applies overhead based on estimated direct labor costs. For the year, it estimated overhead of $1,350,000 and total direct labor cost of $3,375,000. The following events occurred during August: (Click the icon to view the events.) Read the cosurements Requirement 1. Calculate Superior's predetermined overhead allocation rate for the year. Predetermined overhead allocation rate % Choose from any list or enter any number in the input fields and then click Check Answer. 14 parts Clear Al Check Answer remaining This course (ACCT 1090 VO852) is based on Custom My Accountinglab for ACCTG 1090 for Macomb Community College 80 DU F10 F2 F3 F4 53 55 TE $ C ) 0 2 3 4 5 6 7 00 9