* More Info a. Purchased materials on account, $460,000 Incurred total manufacturing wages of $112.000, which included both direct labor and indirect labor. Used direct labor in manufacturing as follows: Direct Labor Requirements Chalet 13 .........$ 14,100 Chalet 14...........$ 28,100 Chalet 15........... $ 19,300 1. Record the preceding events in the general journal. Chalet 16. 2. Post the appropriate entries to the T-accounts, identifying each entry by letter. Determine the ending ..........$ 21,500 account balances, assuming that the beginning balances were zero. c. Requisitioned direct materials in manufacturing as follows: 3. Summarize the job costs of the unfinished chalet and show that this equals the ending balance in Direct Materials Work in Process Inventory. 4. Summarize the job cost of the completed chalet that has not yet been sold and show that this equals Chalet 13............ $ 41,300 the ending balance in Finished Goods Inventory. Chalet 14...................... 56,800 5. Compute the gross profit on each chalet that was sold. What costs must the gross profit cover for Memory Homes? Chalet 15. ......... 62,500 Chalet 16............ $ 66,000 Depreciation of manufacturing equipment used on different chalets, $6,600. Print Done e. Other overhead costs incurred on Chalets 1316: Equipment rentals paid in cash .....$ 10,700 Prepaid plant insurance expired.....$ 7,000 f. Allocated overhead to jobs at the predetermined rate of 60% of direct labor cost. g. Chalets completed: 13, 15, and 16. h. Chalets sold on account: 13 for $96,000 and 16 for $140,000 Print Done] Print Done Requirement 2. Post the appropriate entries to the T-accounts, identifying each entry by letter. Determine the ending account balances, assuming that the beginning balances were zero. Identify the ending account balance with the "Bal" reference on the applicable side of the account Finished Goods Inventory 236000 | (h) 164260 (9) Work in Process Inventory (g) 236000 (C) 226600 (1) N N Ball Bal 71740N Requirement 3. Summarize the job costs of the unfinished chalet and show that this equals the ending balance in Work in Process Inventory. Add the costs of the unfinished chalet, and show that this total amount equals the ending balance in the Work in Process Inventory account. Memory Homes Reconciliation of Work in Process Inventory Subsidiary and Control Accounts Unfinished chalet: Direct materials Direct labor Manufacturing overhead (60% of labor) Total cost equals Work in Process balance Requirement 4. Summarize the job cost of the completed chalet that has not yet been sold and show that this equals the ending balance in Finished Goods Inventory Memory Homes Reconciliation of Finished Goods Inventory Subsidiary and Control Accounts Completed, unsold chalet: Direct materials Direct labor Manufacturing overhead (60% of labor) Total cost equals Finished Goods balance Requirement 5. Compute the gross profit on each chalet that was sold. What costs must the gross profit cover for Memory Homes? Begin by determining which costs must be included to compute gross profit for Memory Homes The gross profit must cover these types of costs: (Complete all answer boxes.) Now comnute the cross nrofit for each chalet cold Now compute the gross profit for each chalet sold. Memory Homes Gross Profit on Chalets Sold In May Less: Gross profit Choose from any list or enter any number in the input fields and then continue to the next