Please can you complete the whole assignment.

This is due for me at midnight and I wanted to check it before i submitted. Specifically I am confused on what the Unit Product Cost is on the job Orders since it is only for one table is it the same as the product cost, and I am not sure I did Step 8 Correctly or the T charts; those are the items I need to check the most. Thank you.

Priority:

- Step 8 Questions

- T charts

pls pls pls don't forget step 8. If thats all you do, i need to check those answers the most.

You work for Thunderduck Custom Tables Inc. This is the first month of operations. The company designs and manufactures specialty tables. Each table is specially customized for the customer. This month, you have been asked to develop and manufacture two new tables for customers. You will design and build the tables. This is a no nail, no screw, and no glue manufacturing (no indirect materials used). You will be keeping track of the costs incurred to manufacture the tables using Job #1 Cost Sheet and Job #2 Cost Sheet Step 1 The cost of the direct materials that can be used to manufacture the table are as follows. These cost are on a per unit basis. Table Top $1,400.00 $400.00 Table Leg $340.00 Drawer The company uses a job order costing system and applies manufacturing overhead to jobs based on direct labor hours. The company estimates that there will be 12 direct labor hours worked during the month The estimated manufacturing overhead cost for the month is: $4,500.00 Factory supervisor salary per month Rent for the factory per month a. $900.00 b. $600.00 Depreciation of factory equipment per month C Total Estimated manufacturing overhead $6,000.00 What is the predetermined manufacturing overhead rate? 500 Step 2 The first order you received was to manufacture a table using a table top and four legs. This is your Job #1 The customer that has ordered Job #2, wants a table that is the same as Job #1, but wants to also add a drawer to the table. Step 3 The following is a list of transactions that need to be recorded for the company for activity in the month of December. Record those in the "General Journal" tab of the excel file Receivables, Raw materials, Work in process, Finished dAccumulated depreciation, Account bl Salaries and wages payable, Sales revenue, Manufacturing overhead, Cost of goods sold, Salaries and wages expense, Advertising expenses, and Depreciation expense. the follow counts: Accounts r format Plon the Step 4 Raw Materials purchased on account, $14,000. 1-Dec All Raw Materials needed for Job #1 were requisitioned from the material storage for use during the month. Assume all materials are direct. (After you journalize this entry please enter the information into Job #1 Cost Sheet) nai: 5-Dec 10-Dec The following employee costs were incurred but not paid during the month: There are three assembly employees that spend 2 hours each, $20 per hour to make the table for Job#1. (After you journalize this entry please enter the information into Job #1 Cost Sheet) Salary for supervisor of the factory $5,000. Administrative Salary $2,000 All Raw Materials needed for Job #2 were requisitioned from the material storage for use during the month. Assume all materials are direct. (After you journalize this entry please enter the information into Job #2 Cost Sheet) 15-Dec 16-Dec Rent for the month of December for the factory building incurred but not paid $900. Advertising costs incurred but not paid for the month was $1,400. 17-Dec Depreciation for the month of December was recorded on equipment was $750 ($150 for equipment used in the factory and the remainder for equipment used in selling and administrative activities) 20-Dec Manufacturing overhead cost was applied based on direct labor hours to Job #1 based on the POHR determined on the "Job Cost Sheet". (After you journalize this entry please enter the information into Job #1 Cost Sheet) 22-Dec 26-Dec Job#1 was completed and transferred to Finished Goods during the month. The completed table from Job #1 was sold on account to the customer for $19,000 during the month. (Hint: Make sure to account for the cost of the table that was sold using the cost from the job cost sheet.) 28-Dec Direct labor cost incurred but not paid for three employees to start manufacturing Job # 2. The employees only worked one hour each, three hours total, $20 per hour during the month and they did not complete their work on the job. (After you journalize this entry please enter the information into Job #2 Cost Sheet) 31-Dec Direct labor cost incurred but not paid for three employees to start manufacturing Job # 2. The employees only worked one hour each, three hours total, $20 per hour during the month and they did not complete their work on the job. (After you journalize this entry please enter the information into Job #2 Cost Sheet) 31-Dec Manufacturing overhead cost was applied based on direct labor hours to Job #2 based on the POHR. Only three direct labor hours were worked on Job #2 during the month. (After you journalize this entry please enter the information into Job #2 Cost Sheet) 31-Dec 31-Dec Any underapplied or overapplied overhead for the month was closed out to Cost of Goods Sold. Post the journal entries that you recorded on the "General Journal" tab to the "T-accounts" tab. This is the company's first month of business, so there will not be any beginning balances. Compute the balance for each T-account after all of the entries have been posted Step 5 Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold on the "Schedule of COGM and COGS" tab for Job #1 and Job #2 that were worked on during the month by the company. Make sure to follow the format noted in your book (pg. 87). (Hint: This is the company's first month of operations and therefore the beginning balances will be zero.) Step 6 Prepare an Income Statement for the month using the Traditional Format on the "Income Statement tab. Step 7 Step 8 Answer the additional questions below SmartArt Formulas Review Home Layout Tables Charts Data Alignment Edit Font Number Format Cells General Fill Calibri (Body) 11 abc Wrap Text A ,00 U .0 Conditional Clear Merge Paste Delete Format Insert Formatting Styles Q18 N O P A K L M R T U B V 1 Jab Cost Shoet Direct Materials: 2 Job Number Date Initated Date campleted tem Direct Matarial 6 Direct Labar Manufacturing Overhead |Amount Hours Amount 7 Amount Rater Rute ours 8 9 12 Cast Summary Direct Materiak 13 Direct Labor Manufacturing Ouarhead 14 15 Total Product Cost LUnit Product Cast 18 19 20 45 Schedule General Journal Job #1 Cost Sheet T-accounts (General Ledger) Job #2 Cost Sheet Normal View Sum-0 Ready 5 G K. N A D M General Journal 1 Description Debit Date Credit 3 4 5 6 8 10 11 12 13 14 15 17 18 19 20 21 22 23 25 26 27 28 29 30 31 32 34 35 36 37 38 39 General Journal lob #1 Cost Sheet Job #2 Cost Sheet T-accounts (General Ledger) Schedule Tables Formulas Review Home Layout Charts SmartArt Data (fx K3 A N O R Account Receivables Accounts Payable Sales Revenue Salaries and Wages Payable Raw Materials Cost of Goods Sold Work In Process Salaries and Wages Expense 2 Finished Goods 1. Advertising Expense 3 7 Depreciation Expense 9 Manufacturing Overhead 4 Accumulated Depreciation 9 3 4 Layout Tables Charts Formulas Review Home SmartArt Data fx D14 D C G H M N Thunderduck Custom Tables, Inc. Thunderduck Custom Tables, Inc Thunderduck Custom Tables, Inc 3 Cost of goods sold For the month Ended December 31, 20XX Income Statement Schedule of cost of goods manufactured 4 For the month Ended December 31, 20XX For the month Ended December 31, 20XX 5 6 7 10 11 12 13 14 16 17 18 19 20 23 24 25 26 27 20 30 31 2 33 34 35 36 38 39 40 41 42 43 45 T-accounts (General Ledger)Schedule of COGM, COGS & Income+ General Journal You work for Thunderduck Custom Tables Inc. This is the first month of operations. The company designs and manufactures specialty tables. Each table is specially customized for the customer. This month, you have been asked to develop and manufacture two new tables for customers. You will design and build the tables. This is a no nail, no screw, and no glue manufacturing (no indirect materials used). You will be keeping track of the costs incurred to manufacture the tables using Job #1 Cost Sheet and Job #2 Cost Sheet Step 1 The cost of the direct materials that can be used to manufacture the table are as follows. These cost are on a per unit basis. Table Top $1,400.00 $400.00 Table Leg $340.00 Drawer The company uses a job order costing system and applies manufacturing overhead to jobs based on direct labor hours. The company estimates that there will be 12 direct labor hours worked during the month The estimated manufacturing overhead cost for the month is: $4,500.00 Factory supervisor salary per month Rent for the factory per month a. $900.00 b. $600.00 Depreciation of factory equipment per month C Total Estimated manufacturing overhead $6,000.00 What is the predetermined manufacturing overhead rate? 500 Step 2 The first order you received was to manufacture a table using a table top and four legs. This is your Job #1 The customer that has ordered Job #2, wants a table that is the same as Job #1, but wants to also add a drawer to the table. Step 3 The following is a list of transactions that need to be recorded for the company for activity in the month of December. Record those in the "General Journal" tab of the excel file Receivables, Raw materials, Work in process, Finished dAccumulated depreciation, Account bl Salaries and wages payable, Sales revenue, Manufacturing overhead, Cost of goods sold, Salaries and wages expense, Advertising expenses, and Depreciation expense. the follow counts: Accounts r format Plon the Step 4 Raw Materials purchased on account, $14,000. 1-Dec All Raw Materials needed for Job #1 were requisitioned from the material storage for use during the month. Assume all materials are direct. (After you journalize this entry please enter the information into Job #1 Cost Sheet) nai: 5-Dec 10-Dec The following employee costs were incurred but not paid during the month: There are three assembly employees that spend 2 hours each, $20 per hour to make the table for Job#1. (After you journalize this entry please enter the information into Job #1 Cost Sheet) Salary for supervisor of the factory $5,000. Administrative Salary $2,000 All Raw Materials needed for Job #2 were requisitioned from the material storage for use during the month. Assume all materials are direct. (After you journalize this entry please enter the information into Job #2 Cost Sheet) 15-Dec 16-Dec Rent for the month of December for the factory building incurred but not paid $900. Advertising costs incurred but not paid for the month was $1,400. 17-Dec Depreciation for the month of December was recorded on equipment was $750 ($150 for equipment used in the factory and the remainder for equipment used in selling and administrative activities) 20-Dec Manufacturing overhead cost was applied based on direct labor hours to Job #1 based on the POHR determined on the "Job Cost Sheet". (After you journalize this entry please enter the information into Job #1 Cost Sheet) 22-Dec 26-Dec Job#1 was completed and transferred to Finished Goods during the month. The completed table from Job #1 was sold on account to the customer for $19,000 during the month. (Hint: Make sure to account for the cost of the table that was sold using the cost from the job cost sheet.) 28-Dec Direct labor cost incurred but not paid for three employees to start manufacturing Job # 2. The employees only worked one hour each, three hours total, $20 per hour during the month and they did not complete their work on the job. (After you journalize this entry please enter the information into Job #2 Cost Sheet) 31-Dec Direct labor cost incurred but not paid for three employees to start manufacturing Job # 2. The employees only worked one hour each, three hours total, $20 per hour during the month and they did not complete their work on the job. (After you journalize this entry please enter the information into Job #2 Cost Sheet) 31-Dec Manufacturing overhead cost was applied based on direct labor hours to Job #2 based on the POHR. Only three direct labor hours were worked on Job #2 during the month. (After you journalize this entry please enter the information into Job #2 Cost Sheet) 31-Dec 31-Dec Any underapplied or overapplied overhead for the month was closed out to Cost of Goods Sold. Post the journal entries that you recorded on the "General Journal" tab to the "T-accounts" tab. This is the company's first month of business, so there will not be any beginning balances. Compute the balance for each T-account after all of the entries have been posted Step 5 Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold on the "Schedule of COGM and COGS" tab for Job #1 and Job #2 that were worked on during the month by the company. Make sure to follow the format noted in your book (pg. 87). (Hint: This is the company's first month of operations and therefore the beginning balances will be zero.) Step 6 Prepare an Income Statement for the month using the Traditional Format on the "Income Statement tab. Step 7 Step 8 Answer the additional questions below SmartArt Formulas Review Home Layout Tables Charts Data Alignment Edit Font Number Format Cells General Fill Calibri (Body) 11 abc Wrap Text A ,00 U .0 Conditional Clear Merge Paste Delete Format Insert Formatting Styles Q18 N O P A K L M R T U B V 1 Jab Cost Shoet Direct Materials: 2 Job Number Date Initated Date campleted tem Direct Matarial 6 Direct Labar Manufacturing Overhead |Amount Hours Amount 7 Amount Rater Rute ours 8 9 12 Cast Summary Direct Materiak 13 Direct Labor Manufacturing Ouarhead 14 15 Total Product Cost LUnit Product Cast 18 19 20 45 Schedule General Journal Job #1 Cost Sheet T-accounts (General Ledger) Job #2 Cost Sheet Normal View Sum-0 Ready 5 G K. N A D M General Journal 1 Description Debit Date Credit 3 4 5 6 8 10 11 12 13 14 15 17 18 19 20 21 22 23 25 26 27 28 29 30 31 32 34 35 36 37 38 39 General Journal lob #1 Cost Sheet Job #2 Cost Sheet T-accounts (General Ledger) Schedule Tables Formulas Review Home Layout Charts SmartArt Data (fx K3 A N O R Account Receivables Accounts Payable Sales Revenue Salaries and Wages Payable Raw Materials Cost of Goods Sold Work In Process Salaries and Wages Expense 2 Finished Goods 1. Advertising Expense 3 7 Depreciation Expense 9 Manufacturing Overhead 4 Accumulated Depreciation 9 3 4 Layout Tables Charts Formulas Review Home SmartArt Data fx D14 D C G H M N Thunderduck Custom Tables, Inc. Thunderduck Custom Tables, Inc Thunderduck Custom Tables, Inc 3 Cost of goods sold For the month Ended December 31, 20XX Income Statement Schedule of cost of goods manufactured 4 For the month Ended December 31, 20XX For the month Ended December 31, 20XX 5 6 7 10 11 12 13 14 16 17 18 19 20 23 24 25 26 27 20 30 31 2 33 34 35 36 38 39 40 41 42 43 45 T-accounts (General Ledger)Schedule of COGM, COGS & Income+ General Journal