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need help with c, d and e Job Mercedes Corvette Murcielago Work in Process Subsidiary Data 8/1: Direct Materials Direct Labor $3,200 $800 $2,400 $2,000
need help with c, d and e
Job Mercedes Corvette Murcielago Work in Process Subsidiary Data 8/1: Direct Materials Direct Labor $3,200 $800 $2,400 $2,000 $2.000 $1,200 $7,600 $4,000 Man Overhead $1,000 $2,500 $1.500 $5,000 40 42 43 44 45 46 47 48 49 50 B. Record journal entries given the following information for August. Material Job Requisitions Time Tickets Mercedes $1,600 $1,200 Corvette $1,200 $2,000 Murcielago $4,000 $3,200 Land Rover $2,800 $1.600 $9,600 $8,000 General use $400 $800 $10,000 $8,800 *Idle time, cleaning & maintenance, indirect materials, etc.) 31-Aug C. Estimated manufacturing overhead for the year was $100000. Overhead is applied based on direct labor dollars (estimated at $80000 for the year). Use this information to calculate predetermined overhead rate and apply manufacturing overhead. Work in process inventory X Manufacturing overhead X (Apply overhead using PDO) D. Calculate the cost of each job by completing the following table. (Go up to the very top box for Beg. Wip. The rest can be found in the above entries.) Mercedes Corvette Murcielago Land Rover Beg. WIP X X X X Direct Materials x x x x Direct Labor X X X X Man. Overhead + X X X X Total Cost X X X X E. The Mercedes, Corvette, and Murcielago jobs are completed and sold on account for $11160, $17640, & $16059 respectively. Journalize below. 31-Aug XX X X (Complete Mercedes, Corvette, Murcielago jobs) 31-Aug XX XX X X X X (Sold Mercedes, Corvette & Murcielago jobs on account) Step by Step Solution
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