Michal Bowry ACC 300 Cost Accounting (1) Save Homework: Chapter 4 Score: 0 of 2 pts 5 of 5 (2 complete) HW Score: 24.35%, 2.43 of 10 pts P4-43 (book/static) Tutoring Question Help Estevez Company unes normal costing in its job-costing system. The company produces kitchen cabinets. The beginning balances (December 1) and ending balances (as of December 30) in their inventory accounts are as follows: Click the icon to view the data.) (Click the icon to view the additional information) Read the requirements Requirement 1. Prepare journal entries for the December 31 payroll (Record debits first, then credits. Exclude explanations from any joumal entries.) Begin by preparing the journal entry to recognize indirect and direct payroll for the December 31 work day. Journal Entry Accounts Debit Credit (1a) 13 on Choose from any list or enter any number in the input fields and then click Check Answer arvos 5 parts Clear All romaining Check Answer (Click the icon to view the additional information.) the icon to view the data.) He uirements ment 1. preparid i Data Table Materials Control Work in Process Control Manufacturing Department Overhead Control Finished Goods Control Boginning Balance 121 4,200 13,400 Ending Balance 12/30 17.000 18,000 188,000 8,800 38.800 Print Done 5 of 5 (2 complete) HW Score: 24. Tutoring Qu osting in its job-costing system. The company produces kitchen cabinets. The beginning balances (December 1) ntory accounts are as follows: ata.) (Click the icon to view the additional information.) More Info - More Info lento any journal entrie entry c. Additional information follows: a. Direct materials purchased during December were $132,600. b. Cost of goods manufactured for December was $468,000. No direct materials were returned to suppliers. d. No units were started or completed on December 31 and no direct materials were requisitioned on December 31. The manufacturing labor costs for the December 31 working day: direct manufacturing labor, $8,600, and indirect manufacturing labor, $2,800 Manufacturing overhead has been allocated at 110% of direct manufacturing labor costs through December 31. Print Done ments X Requirements equirements Prepare ntries ng the jo 1. Prepare journal entries for the December 31 payroll. 2. Use T-accounts to compute the following: a The total amount of materials requisitioned into work in process during December b. The total amount of direct manufacturing labor recorded in work in process during December (Hint: You have to solve requirements 2b and 2c simultaneously) C. The total amount of manufacturing overhead recorded in work in process during December d. Ending balance in work in process, December 31 e. Cost of goods sold for December before adjustments for under or overallocated manufacturing 3. Prepare closing journal entries related to manufacturing overhead. Assume that all under-or overallocated manufacturing overhead is closed directly to Cost of Goods Sold Overhead Print Done