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Please assist with the attached homework problems. Thanks. There are three problems this week. Click the tabs at the bottom of the spreadsheet to go

Please assist with the attached homework problems. Thanks.

image text in transcribed There are three problems this week. Click the tabs at the bottom of the spreadsheet to go to problems 2 and 3. Echo Sports Company produces home basketball goal systems consisting of a stand, backboard, rim, and net. The company has and capacity to produce 800 goal systems per month. Manufacturing costs and other costs are shown below: Administrative salary Depreciation on office equipment Depreciation on production equipment Electric and other factory utilities Factory supervisor salary Fiberglass backboards purchased from another manufacturer Insurance on factory building and contents Maintenance costs on factory equipment Nets and rims purchased from another manufacturer Rent on factory building Sales commissions Steel pipe for stand fabrication Supplies for administrative office Wages for production workers Direct Materials 2,400.00 400.00 1,800.00 1,400.00 2,000.00 30,400.00 600.00 1,200.00 6,400.00 2,000.00 1,600.00 14,920.00 600.00 14,720.00 Direct Labor 80,440.00 Enter each manufacturing cost in the appropriate column. Leave blank if it does not fit in any column. Administrative salary Depreciation on office equipment Depreciation on production equipment Electric and other factory utilities Factory supervisor salary Fiberglass backboards purchased from another manufacturer Insurance on factory building and contents Maintenance costs on factory equipment Nets and rims purchased from another manufacturer Rent on factory building Sales commissions Steel pipe for stand fabrication Supplies for administrative office Wages for production workers Totals Direct Materials Direct Labor - - ms 2 and 3. , and net. The company has sufficient orders Overhead Manufacturing Overhead - Job Costing Elite Custom Cabinetry Company produces custom cabinets ordered to exact measure based on CAD drawings provided by As of June 1, there was one order in production (job 5-3), and two new jobs were started in June (jobs 6-1 and 6-2). Job 5-3 had incurred costs as follows prior to the month of June: direct material, $4,600; direct labor, $6,550; overhead, $3 There were no finished goods, because orders ship out upon completion. Raw material inventory was $18,600 as of June 1 The following events occurred during June: 1. Purchased additional raw materials of $20,000. 2. Incurred direct labor hours of 640 hours at a rate of $24.00 during the month of June. 3. Incurred total manufacturing overhead costs of $18,400 during the month of June. 4. Assigned Direct materials and direct labor hours to jobs as follows: Actual Materials Hours Job 5-3 2,300 112 Job 6-1 8,700 320 Job 6-2 5,420 208 Totals 16,420 640 5. The company uses direct labor hours to assign overhead to individual jobs, and the predetermined overhead rate is $28.00 per hour, based on the budget of 600 labor hours per month. 6. Job 5-3 and 6-1 are completed and shipped in the month of June. Job 6-2 is in progress at month end. A. B. C. D. Calculate the completed cost of jobs 5-3 and 6-1. Calculate the cost of work in process (job 6-2). Calculate over or under applied overhead for hours worked and rate per hour. Calculate the actual overhead rate per hour. ed on CAD drawings provided by kitchen remodeling firms. ed in June (jobs 6-1 and 6-2). irect labor, $6,550; overhead, $3,400. ventory was $18,600 as of June 1. redetermined ss at month end. Process Job Costing and Equivalent Units of Production Bay Manufacturing produces paint. The company has two processes: mixing and packaging. The ingredients for the paint are mixed in large batches and then transferred to the packaging department, where one-gallon cans are filled, capped, labeled, and boxed. There was no work in process on February 1. The materials are all brought to the packaging job up front and charged to the job. Nothing is transferred to finished goods until the entire job is complete. The materials costs include the packaging, material, and the cost transferred from the mixing department. On February 2, 15,000 gallons (job 2-1) were transferred into the packaging department from the mixing department and completed on February 19. The costs incurred to complete job 2-1 in the packaging department are as follows: Materials 56,250 Labor 11,250 Overhead (applied based on direct labor hours) 7,500 On February 20, another 20,000 gallons (job 2-2) were transferred into the packaging department. Job 2-2 was 50% complete as to labor at the end of the month. The costs incurred (unit cost unchanged from job 2-1) to complete job 2-2 in the packaging department are as follows: Materials 75,000 Labor 15,000 Overhead (applied based on direct labor hours) 10,000 INSTRUCTIONS: 1. Compute the physical units of production. 2. Compute the cost per unit to complete packaging for labor, materials, overhead, and total. 3. Compute equivalent units and cost of work in process as of the end of February. 4. Record journal entries for: a. the movement of materials from materials inventory to each job b. the allocation of payroll to each job c. the application of overhead to each job d. the movement of work in process to finished goods ing job up front mplete. The department

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