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Please help with All Parts: Part 1: PART 2: PART 3: PART 4: Required information Use the following information to answer questions. (Static) [The following
Please help with All Parts:
Required information Use the following information to answer questions. (Static) [The following information applies to the questions displayed below.] The following information is available for THE Company, which uses a job order costing system. Overhead is applied using a predetermined overhead rate of 70% of direct labor cost. Computing materials, labor, overhead, and cost of goods manufactured LO P1, P2, P3, P4 1 Solve for direct materials used in the period. show work your (don't forget to account for indirect materials. 2. Compute the cost of direct labor used for the period. show your work 3. Work in Process Inventory calculations - first what is overhead applied What is the amount of total manufacturing cost? What makes up total manufacturing Solve for cost of goods manufactured in the period. show your work (note: this is the amount transferred to finished goods inventory) 4. Solve for cost of goods sold in the period (do not consider any under- or overapplied overhead). show your work 5. Factory Overhead calculations: What is actual overhead? Factory overhead is applied. 5. Factory Overhead calculations: What is actual overhea spplied. Recording materials; direct and indirect LO P1, P3 1. Raw materials purchases for cash. 2. Direct materials used. 3. Indirect materials used. Prepare journal entries for the above transactions for the period. Journal entry worksheet Record the raw material purchases for cash. Journal entry worksheet Record the direct materials used. Record the indirect materials used. 1. Direct labor used (recorded as factory wages payable). 2. Indirect labor used (recorded as factory wages payable). Prepare journal entries for the above transactions for the period. Journal entry worksheet Record the entry for direct labor used. 1. Direct labor used (recorded as factory wages payable). 2. Indirect labor used (recorded as factory wages payable). Prepare journal entries for the above transactions for the period. Journal entry worksheet Record the entry for indirect labor used. 1. Incurred other actual overhead costs (all paid in Cash). 2. Applied overhead to work in process. Prepare journal entries for the above transactions for the period. Journal entry worksheet Record the entry for other actual overhead costs incurred (all paid in Cash). Prepare journal entries for the above transactions for the period. Journal entry worksheet Record the entry to apply overhead to work in process Part 1:
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