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Please help with all requirements, thank you (Click the icon to view the events.) Read the More info a. Purchased materials on acount, $400,000. b.
Please help with all requirements, thank you
(Click the icon to view the events.) Read the More info a. Purchased materials on acount, $400,000. b. Incurred total manufacturing wages of $119,000, which included both direct labor and indirect labor. Used direct labor in manufacturing as follows: d. Depreciation of manufacturing equipment used on different chalets, $6,900. e. Other overhead costs incurred on Chalets 13-16: Equipment rentals paid in cash ..... \$ 10,200 Prepaid plant insurance expired .... \$ $3,000 f. Allocated overhead to jobs at the predetermined rate of 60% of direct labor cost. g. Chalets completed: 13,15 , and 16 . h. Chalets sold on account: 13 for $93,000 and 16 for $142,000. Requirements 1. Record the preceding events in the general journal. 2. Post the appropriate entries to the T-accounts, identifying each entry by letter. Determine the ending account balances, assuming that the beginning balances were zero. 3. Summarize the job costs of the unfinished chalet and show that this equals the ending balance in Work in Process Inventory. 4. Summarize the job cost of the completed chalet that has not yet been sold and show that this equals the ending balance in Finished Goods Inventory. 5. Compute the gross profit on each chalet that was sold. What costs must the gross profit cover for Sunset HomesStep by Step Solution
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