Module 4 Job Costing Homework Canvas Casas makes custom tents. Selling and cost details are below. Work through each of the tabs to help Canvas Casa understand their costs and margins and to prepare the acconting for the period. Assumptions: Canvas Casas makes custom tents. A standard tent sells for $400 A deluxe tent sells for $1,000 Customers can add extra waterproofing to their tent for $300 The standard tent requires 10 yards of fabric The deluxe tent requires 25 yards of fabric One bottle of waterproofer is required to extra waterproof either a standard or a deluxe tent the canvas for the tents costs $25/yard one bottle of waterproofer costs $150 Direct labor costs $25/hour Manufacturing a standard tent requires 3 hours of DL Manufacturing a deluxe tent requires 4 hours of DL Waterproofing a tent does not require any extra DL because the extra waterproofing can be applied at the same time as the standard waterproofing Annual FOH includes the following: Indirect Materials 20,000 Indirect labor 50,000 Rent 35,000 Utilities 10,000 Depreciation on equipment 16,250 The company expects to manufacture 1,000 tents in the current period as follows: 500 standard tents 500 deluxe tents The company allocates FOH based on DLS Orders: All orders are completed and sold in the current year 201 200 standard tents with standard waterproofing 202 400 standard tents with extra waterproofing 203 420 deluxe tents with extra waterproofing Instructions: 10) Prepare the journal entry to record the RM purchased (include indirect materials) DR DR CR 11) Prepare the journal entry to move direct materials to WIP: DR CR 12) Prepare the journal entry to record wages and to move direct labor $ to WIP: DR DR CR DR CR 13) Prepare the journal entry to move Indirect costs to FOH: DR CR CR CR CR CR