PLEASE HURRY HELP
Prepare journal entries to record items (a) through ( f ) above [ignore item ( g ) for the moment]. (If no entry is require cransaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Journal entry worksheet Raw materials purchased on account, $318,000. Note: Enter debits before credits. Required: 1. Prepare journal entries to record items (a) through (f) above [ignore item ( g ) for the moment]. 2. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant items from yo accounts. 3. Prepare a journal entry for item (g) above. 4. If 10,000 of the custom-made machined parts are shipped to the customer in February, how much of tl in cost of goods sold for February? Complete the question by entering your answers in the tabs below. If 10,000 of the custom-made machined parts are shipped to the customer in February, how much of this jol included in cost of goods sold for February? (Round your intermediate calculations to 2 decimal places and fi nearest whole dollar amount.) Journal entry worksheet Record the entry to transfer from WIP to Finished goods. Note: Enter debits before credits. Dillon Products monufactures various machined parts to customer specifications. The company uses a job-order costing system and applies overhead cost to jobs on the basis of machine-hours. At the beginning of the year, the company used o cost formula to estimate that it would incur $4,252,500 in manufacturing overheod cost at an activity level of 567,000 machine-hours. The company spent the entire month of January working on a large order for 12,100 custom-made machined parts. The company had no work in process at the beginning of Jonuory. Cost date relating to January follow: c. Raw materials purchased on account, $318,000. b. Raw materials used in production, $257,000(80% direct materials and 20% indirect materiais). c. Lobor cost accrued in the factory. $159,000 (one-third direct labor and two-thirds indirect labor). d. Depreciotion recorded on factory equipment, $63,300 e. Other manufacturing overhead costs incurred on account, $84.500. 1. Manufacturing overhead cost was applied to production on the basis of 40,590 machine-hours actually worked during the month. g. The completed job for 12,100 custom-made machined parts was moved into the finished goods warehouse on January 31 to await delivery to the customer. (In computing the doliar amount for this entry, remember that the cost of a completed job consists of direct materials, direct labor, and applled overhead) Required: 1. Prepare journal entries to record items (o) through ( f ) above [ignore item (g) for the moment]. 2. Prepare T-accounts for Monufocturing Overhead and Work in Process. Post the relevant items from your journal entries to these Taccounts. 3. Prepare a journal entry for item (g) above. 4. If 10,000 of the custom-made machined parts are shipped to the customer in February, how much of this job's cost will be included in cost of goods sold for February? Complete the question by entering your answers in the tabs below. Complete the question by entering your answers in the tabs below. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant items from your journal entries
