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please help with charts and the blanks You work for Thunderduck Custom Tables inc. This is the first month of operations. Tho company designs and
please help with charts and the blanks
You work for Thunderduck Custom Tables inc. This is the first month of operations. Tho company designs and manufactures specialy tables. Each table is specially customizod for the customer. This month, you have been asked to dovolop and manulacture two new tables for customers. You will design and bulld the tables. The company does not have indirect materials. You will be keeping track of the costs incurred to manulacture the tables using Job \#1 Cost Sheet and Job \#2 Cost Shobl The cost of the direct materials that can be used to manutacture the table are as foliows. Assume a 565 per hour wage tate to the assembly employees. The company uses a job order costing system and apples manulacturing overhead to jobs based on diroct labor hours. The company esfimates that there will be 120 direct labor hours worked during the month The foxed estimated manufactunny overhead costs per month are: 1 What in the predetermined overhead rats (POHR)? Oala 2 The Ilrst crder you rocoived was to manufacture a table using a table top and four loge. This is your Job :1. Data 3 The cuatomer that has ordered Job i2, wants a table that is the same as Job 11 , but wants to aiso add a draver to the table. sin1 The folowing is a list of transactions that need to be recorded for the compary for acility in the month of Docember. Record those in the "Cenerai Joumal" lab of the excel fle uting the proper format. Please use the following accounts: 1.Dec P.w materials purhased an acoount 521,000. direct. (Aher you foumalio stits entry pleme enier the information into Job ifi Cout Sheel) 10-Des The lollowing emplosee cosis were incurred but hot paid during the month Ouect labor for Jab 11, consisies at bo houn at a rate of $65 per hout, lotating 53.900, (ARer you foumalise thin entry pleose enter the information inte job o1 cost shend? Selary foe sipenisor of the factory 32.000 . Administralive Salary $2,000 12-Dec Manulacturing ovehead cost was appled based on direct labor hours to Job tif using the POHR calculated in Question 1. (ATer you joumalize this entry please enler the information into Job 11 Cot Sheot) 15-Dec All Raw materials needed for Job 122 were requested trom the miterial storage for use during the month. Al matorials are direct. (Afler you joumalize this entry please enter the information into Job 122 Cost Sheet) 16-Dee Rent for the month of December for the factory bullding incurred but not paid 5500 . 17.-eec Adverteing costn incurred but not poid for the month was $1,600. 20-Dec Depreciation tor the month of December was recorded on equipment 5950 (\$700 for equipment used in the tactory and 5260 for equpment used in selling and administrative acthitles). 24-Dec Property insurance inceimed but not paid 51,850 (\$1,300 for the factory and 5550 for selling and asininithative olfices). 26-Des: Job it was compleled and translerned lo Finahed Goods during the month. 24-0e0 The completed table was sold on acpouht to the customer for 526,000 dunng the month. (Hint Make sure to account for the cosi of the tuble that was wold uiing tie cont hom the job coest sheet) 31-Dec By the end of the month, 30 hours of drech labor were incurred at a rale of $65 per hour, totaing $1.950 to begin production on pob 12. The employees will be paid next month. (Aler you journalize this anty ploase enter the information inlo Job itz Cost Sheol) 31-Dec Manulacturing ovechead cont was applied using the direct labor houns from Job wh and the POHR calaulaled in Quesibon 1. (ARer you joumalie thit entry ploase enter the inloimalion into Job s2 Cost Sheet) step 2 Post the joumal entries that you recorded on the "Oenenal Joumar" tab to the "T-accourin (Generai Ledger) tab and calculate the belance for each account. This is the companys fiat month of bushous, so there will not be ary beginning balancet: 31-Deo Record the entry in the general joumal to close the Manutacturing Oveheed occount and adjust for overapplediundorappled overhesd sing3 Pepare a Schedue of Cost of Goods Manutoctured and a schedule of Cost of Goods Sold on the "schedule of cocM and cocs? tab far Jab at and Job in that were worted on during the month by pe compary. Make wirn to follow the format noled. Check Figure 1: Cest of oeode Menufactured check figure 2i Not Opersing inceme 112,1003,.030 2. What in the extilivg basance for maw nuderials? What is the ending balance for work in process? What is the ending balarce for finiahed goods? What is the ending balance for accounts paynble? From the Schedule of Cost of Goods Manufactured, What are the raw materiale used in producton? What is the actual manulacturing overheod ooet incured during December? What is the total appled manufacluring overhead cost during December? What is the unadfusted cost of goods nold? 10 Was the manufocturing overtead for month December overappledunderapplied ?nter elther underappled or overapplied. 11. What is the dollar amount of everappliedhanderapplied manufacturing ovenead? 12 What is the adjusted coet of goods sold? 13 What is the grots margin (in doliars) from the income staternent? 14 What is the tolai grime cost from the Job tif cost sheet? 15 What is the tolal convenion cott from the Job 31 Cost Sheet? 10 What in the todal product cost tram the 400 ist coet sheet? 17. What was the perod cost incuned for then month of December? 13. What is the contributon maryin (in dotars) for Job ot (assume that alt seting and adminiatrative cost and all marutactiring overhead cotis are fteed) 19 if jobill was for five iables insiead recorded on Job lis soos sheer?? It the taclony has the capocity to groduce five tabies each monith what would be the fotal 20 actual fixed manulacturing ovenead cost (in dollars) incurred it five tables were productd Insinad of one? Silet ixyenes Centeroosi inld Belechet end Waget Leponte Step by Step Solution
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