please add an explanation as to how you got the missing and wrong numbers that i put in.
Management accounting
Required: 1. Prepare T-accounts for Raw Materials, Work in Process, Finished Goods, and Manufacturing Overhead. Enter the November 30 inventory balances given above; in the case of Work in Process, compute the November 30 balance and enter it into the Work in Process T-account. Answer is not complete. 3-a. What apparent predetermined overhead rate does the company use to assign overhead cost to jobs? Answer is complete and correct. 3-b. Prepare a journal entry to record the application of overhead cost to jobs for December (it is not necessary to make a separate entry for each job). Post this entry to the appropriate T-accounts, (If no entry is required for a transaction/event, select "No journal entry required in the first account fleid.) 2. Prepare joumal entries for December as follows: a. Prepare an entry to record the issue of materials into production and post the entry to appropriate T-accounts. (in the case of direct materials, it is not necessary to make a separate entry for each job.) Indirect materials used during December totalled $6,700. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Kenworth Company uses a job-order costing system. Only three jobs-Job 105, Job 106, and Job 107 -were worked on during November and December. Job 105 was completed on December 10; the other two jobs were stal in production on December 31 , the end of the company's operating year: Data from the job cost sheets of the three jobs follow: The following additional information is avallable: o. Manufacturing overtiead is applied to jobs on the basis of direct labour cost. b. Balances in the inwentory accounts at November 30 were os follows: Required: 1. Prepore Taccounts for Raw Materiais, Work in Process, Finished Goods, and Manufacturing Overheod. Enter the November 30 inventory balances given above; in the case of Work in Process, compute the November 30 balance and enter it into the Work in Process T-account. 4. As stated earliet, Job 105 was completed during December. Prepore a journal entry to show the transfer of this job off the production line and into the finished goods warehouse. Post the entry to the appropriate T-accounts. (if no entry is required for a transaction/event, select "No journaf entry required" in the first accoumt field.) 5. Determine the balence at December 31 in the Work in Process inventory account. How much of this balance consists of costs charged to Job 106 ? Job 10 ? b. Prepare an entry to record the incurrence of labour cost, and post the entry to appropriate T-accounts. (In the case of direct labour cost, it is not necessary to make a separate entry for each job.) Indirect labour cost totalled $11,600 for December. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) c. Prepare an entry to record the incursence of $21,050 in various actual manufocturing overhead costs for December (credit Accounts Payable). Post this entry to the appropriate T-accounts. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
