MUST SHOW ALL WORK

CH 15: Job costing Creative Designs Inc specializes in custom order products based on specific wishes of their customers There are currently 4 customer orders in process with the following Beg WIP balances: Customer 1: $5 Customer 2: $3 Customer 3: $1 Customer 4: $0 Below is a table showing the Direct Materials and Direct Labor amounts added to each customer during the month. Creative Designs allocates FOH based on 90% of Direct Labor. customer 1 customer 2 customer 3 customer 4 DM $20 $40 $50 $60 DL $50 $80 $60 $100 Customer 1's job was completed and sold for $360 and customer 2's job was also completed and sold for $495. Customer 3's job is complete, but not yet sold and customer 4's job is not complete and still in process. ACTUAL FOH is determined to be $265 at the end of the accounting period Using the concepts of Job order costing, determine the following. DO NOT enter the $ a) Total Applied FOH b) Ending WIP (in total) $ c) Ending FGI $ d) COGS for the company (before any FOH adjustment) $ Job Costing continued: Using the data from Creative Designs: 1) Determine the GP% for each sale and comment on which customer job was more profitable for the company. (do not consider the FOH adjustment for this portion) 2) prepare the journal entry needed to adjust FOH based on your calculations. Assume the adjustment is immaterial. Your answers will need to be included on your PDF upload. You do not need to type anything in the text box below