need some help on the journal and final question. thank you in advance!
Mana Young is the sole stockholder of Puat of Great Price Compary (ROGP Comphy), which produces high end krited sweaters and sweater vests foe sait fo retal oullets. The company started in Janaary of the curtent year, and enoloys three knitters (each of Whom work 40 hours per week) and one office managerikneting upervisor fthis employee works 20 houss per week as oflice maraget, and 20 hours per week as knitting sucervioe). A wages are pard in cash at the end of each month. Each knitiec has a kniting machine that is used about 23 of the kokter's time, the rest of the initter's time being invelved in hand knitting and piecing logether the garmenta. The The loriting machines were curchased on Janwary t of the current year, and cost 32.400 each. with an anticpoted inetud lie of 10 years and no satvage value. The packigerg machire was parchayed on the same date and cost 84,800 , with the sane antipated usefdl hte and satvage walue Required: Company 2. On December 10. PoGP Conpary receves an order for 200 aweater vests and assigns sob 86 to fie order Reverw Me Mafenari. fiequater panel A soumalie the entry to record the addifon of the materials to Wolk in Process" B. On the dot. Cose Shech punet add the materials to the dob Cost Sheet for 100803 . 1 On December 15 revew the source documents on the Time. Inckefs panel 3. On December 15 , review the source documents on the Iime fickets panel. A. Joumalize the entry to record the addition of direct labor to Work in Process for the penod December 1 through December 15 . B. Joumalize the entry to record the addition of factory overhead to Work in Process for the periad December 1 through Decomber 15 . C. On the Job Cost Sheets panel add the appropriate amount of drect labor and factory overhead costs fo the Job Cost Sheot for Job 62 for the periad December t through December 15 4. On December 21, Job 62 is compieled. Revew the Job Cost Sheets panel and your foumal entries. Joumatre the entry to move the associated costs to the Finished Goods tccoount." 5. On December 22, 75 of the 100 sweaters from Job 62 are sold on account for $125 each. Joumafize the following transactons" A The entry to record the sale B. The entyy to record the transter of costs from Finished Goods to Cost of Goods Sold 6. On December 31, the last work day of the year for the knitters, revew the source documents on the Time Tickets panel. A Joumalize the entry to record the addition of direct fabor fo Wark in Process for the penod December 16 through December 31" B. Joumatize the entry to record the addition of factory overhead to Wark in Process for the period December 16 through December 31 . C. On the Job Cost Sheets panel, add the approprate amount of direct labor and factory overficad casts to the Job Cast Sheet for Job 33 for the period December 16 through December 31 7. On December 31, joumalze the following transactions". Note that expenses (B), (C), and (D) were pad in cash. A. One month's deprecation on equipment C. On the Job Cast Sheets panel, add the appropriate amount of direct labor and factory overhead costs to the Job Cost Sheet for Job 83 for the penod December 16 through December 31 . 7. On December 31, joumalize the following transactions: Note that expenses (B), (C), and (D) were paid in cash. A. One month's depreciation on equipment B. One month's payroll for all employees. C. One month's rent of $1,000 D. One month's utlities of $1,275 General Ledger Nov. 30 Trial Balance POGP Company UNADJUSTED TRIAL BALANCE November 30,20 Y 8 Since the company is more reliant on labor than machines, Maria decides to use direct labor hours (DLH) as the activity base for her predetermined factor machine hours (MH). Calculate the predetermined factory overhead rate for the current year. If required, round your answers to the nearest cent. Materials Requisition Time Tickets \begin{tabular}{|l|c|c|l|l|} \hline Time Ticket & No. 1255 & Employee Name: & Susan Blake \\ \hline Work Description: & Knitting/piecing & & & \\ \hline Dates & Job No. & Hours Worked & Hourly Rate & Cost \\ \hline 12/0112/15 & 62 & 65 & $20.00 & $1,300.00 \\ \hline 12/1612/31 & 83 & 103 & $20.00 & $2,060.00 \\ \hline & & & Total Cost & $3,360.00 \\ \hline \end{tabular} \begin{tabular}{|l|c|c|l|l|} \hline Time Ticket & No. 2274 & Employee Name: Josh Porter \\ \hline Work Description: & Knitting/piecing & & \\ \hline Dates & Job No. & Hours Worked & Hourly Rate & Cost \\ \hline 12/0112/15 & 62 & 75 & $20.00 & $1,500.00 \\ \hline 12/1612/31 & 83 & 88 & $20.00 & $1,760.00 \\ \hline \end{tabular} \begin{tabular}{|l|c|c|c|c|} \hline Time Ticket & No. 3923 & Employee Name: Mary Jpnes \\ \hline Work Description: & Knitting/piecing & & \\ \hline Dates & Job No. & Hours Worked & Hourly Rate & Cost \\ \hline 12/0112/15 & 62 & 60 & $20.00 & $1,200.00 \\ \hline 12/1612/31 & 83 & 109 & $20.00 & $2,180.00 \\ \hline \end{tabular} What are the balances in the following accounts as of December 31 ? if an ambunt s zero, enter "or, Foedback Check My. Work Creale T accounts and post the beginning balances from the Nov 39 Trial Bulance panel. Then post your jourmal entries to got the Dec. 31 account balances artikeatel anctua tile and salvage vase. micodes unatille ad wavage vate
