Please convert into Journal Entries & T Accounts

0. I am predetermined overhead rate of _______. The total estimate amount of manufacturing overhead for the year $2,000,000. It is estimated 100,000 direct labor hours will be worked during the year.

1 I am the production foreman. I get to work and clock in. I work the entire day and supervise everyone's activities. I earn $100 for the day with fringe benefits.

2 I am the chicken for the chicken pot pies. 500 pounds is removed from the freezer and taken to the production area. At standard or normal cost, my value is $2500. The batch will produce 10,000 very fancy pot pies.

3 I am the cook, I take the chicken and add it to the batch of water, carrots, celery, potatoes and flour. I spend three hours cooking the food. I earn $10 an hour with fringes.

4 I am the USDA inspector. When I walk in, everyone sits down. $4000 in wages are incurred by cooks while I walk around.

5 I am the electric bill for the plant. My total is $5000

6 I am the tax bill for the plant. My bill is $7000

7 I am the hazardous waste disposal bill. My total is $800.

8 I am the Marketing Director, I earn $260,000 a year working part-time or $2600 a day - We will record today's cost only.

9 I am the quality control supervisor. I earn $67,600 a year or $260 a day. We will record today's cost only.

10 I am the heating bill for the fancy office building housing the president. My total is $30,000 for the month. We will record the cost for the month.

11 I am glue brought over to the packaging area for sealing the boxes of pot pies - value $10 12 I am the specialty cook called in to work one hour of overtime to add a special touch to the pot pie. My hourly wage is $10, but my overtime pay is a total of $15 per hour

13 I am the depreciation on the oven used to cook the pies $5000.

14 I am the total number of other labor hours for the other cooks spent on the batch of pot pies 196 hours at $10 per hour.

15 I am the overhead that needs to be applied.

16 I am the 10,000 finished pot pie. I am moved to the completed pot pie freezer.

We start a new batch

17 a. I am the raw materials used for the new batch: 2250 pounds at $5 per pound is removed from the Raw Material Inventory & Transferred to WIP 17 b. I am 900 hours worked on the new batch - $10 per hour is paid 17 c. I am the manufacturing overhead applied to this job with 900 hours worked, and 2250 of materials used

18 I am an additional 45,000 pot pies transferred to the finished pot pie freezer You will need to record the completion of the pot pies.

18.5 Pies costing $45,000 are sold on account at 200% of cost (Two Entries)

19 I am the end of the month, and it is time to deal with the under/over applied inventory

ets get started. We are going to make two batches of chicken pot pies. As a factory, we anticipated or estimated manufacturing overhead at $2,000,000. Our cost driver is determined to be direct labor. We have estimated direct labor hours of 100,000. Therefore, our predetermined overhead rate is:

$ ____________ / ______________ = $ _______________ per direct labor hour

Therefore, the standard cost per pot pie can be computed at:

Dir. mat.	$0.25
Dir. labor (.02 hours @ $10 per hour)	$0.20
MOH (.02 hours @ ____ per hour)	$ ____
Standard cost per pie	$ ____

You will need the following T accounts:

• Manufacturing Overhead
• Wages/Accounts Payable
• Work in Process
• Selling, General & Administrative Expense (SG&)
• Raw Material Inventory Beginning Balance $40,000
• Supply Inventory Beginning Balance $5,000
• Accumulated Depreciation
• Finished Goods
• Cost of Goods Sold
• Accounts Receivable
• Sales Revenue

Job Cost Sheet ONE Job Cost Sheet TVO 2 Batch Number 3 Date Started 4 Number of produced Batch Number Date Started 10,000 Number of produced 45,000 Direct Material DATE Direct Material UNIT QUANTITY | PRICE 500 $ 5.00 REQU # DATE REQU # COST 2,500.00 QUANTITY 2250 UNIT PRICE $ 5.00 $ $ COST 11,250.00 Total $ 2,500.00 Total $ 11,250.00 DATE CARD DATE CARD Direct Labor hours 900 COST Direct Labor hours L 3 1 196 200 $ RATE 10.00 $ 9,000.00 800 W NO $ $ $ RATE 10.00 $ 10.00 $ 10.00 $ COST 30.00 10.00 1,960.00 900 Total $ 2,000.00 Totall $ 9,000.00 Manufacturing Overhead Manufacturing Overhead Pool Rate/ Activity Base/ Predetermined Level of Cost Driver Overhead Rate Cost Driver dlhrs $20 per dlhr 2 00 $ Pool Rate/ Overhead Cost Activity Base/ Cost Predetermined Assigned Pool Driver Overhead Rate 4,000.00 all dlhrs $20 per dlhr 21 Cost Pool Level of Cost Driver 900 $ Overhead Assigned 18,000.00 Total $ 4,000.00 18,000.00 Cost Summary Cost Summary 30 Direct Material 31 Direct Labor 82 Manufacturing Overhead 2,500.00 Direct Material 2,000.00 Direct Labor 4,000.00 Manufacturing Overhead 8,500.00 0.85 11,250.00 9,000.00 18,000.00 38,250.00 0.85 Total Cost $ Unit Cost $ Total Cost $ Unit Cost $ Job Cost Sheet ONE Job Cost Sheet TVO 2 Batch Number 3 Date Started 4 Number of produced Batch Number Date Started 10,000 Number of produced 45,000 Direct Material DATE Direct Material UNIT QUANTITY | PRICE 500 $ 5.00 REQU # DATE REQU # COST 2,500.00 QUANTITY 2250 UNIT PRICE $ 5.00 $ $ COST 11,250.00 Total $ 2,500.00 Total $ 11,250.00 DATE CARD DATE CARD Direct Labor hours 900 COST Direct Labor hours L 3 1 196 200 $ RATE 10.00 $ 9,000.00 800 W NO $ $ $ RATE 10.00 $ 10.00 $ 10.00 $ COST 30.00 10.00 1,960.00 900 Total $ 2,000.00 Totall $ 9,000.00 Manufacturing Overhead Manufacturing Overhead Pool Rate/ Activity Base/ Predetermined Level of Cost Driver Overhead Rate Cost Driver dlhrs $20 per dlhr 2 00 $ Pool Rate/ Overhead Cost Activity Base/ Cost Predetermined Assigned Pool Driver Overhead Rate 4,000.00 all dlhrs $20 per dlhr 21 Cost Pool Level of Cost Driver 900 $ Overhead Assigned 18,000.00 Total $ 4,000.00 18,000.00 Cost Summary Cost Summary 30 Direct Material 31 Direct Labor 82 Manufacturing Overhead 2,500.00 Direct Material 2,000.00 Direct Labor 4,000.00 Manufacturing Overhead 8,500.00 0.85 11,250.00 9,000.00 18,000.00 38,250.00 0.85 Total Cost $ Unit Cost $ Total Cost $ Unit Cost $