POGP Company Trial Balance November 30, 2018 Account Title Debit Credit Cash 20,000 Accounts Receivable 1,000 Supplies 200 Materials 5,000 Work in Process 5,404 Equipment 12,000 Accumulated Depreciation-Equipment 825 Accounts Payable 150 Common Stock 10,000 Retained Earnings 12,000 Dividends 18,096 Sales 307,500 Cost of Goods Sold 255,040 Factory Overhead 15 Wages Expense 13,750 330,490 330,490 Estimated Selected Amounts for the Year Estimated depreciation on equipment $1,200 Estimated total Office Manager/Knitting Supervisor wages $36,000 Estimated office utilities $3,000 Estimated factory utilities $4,800 Estimated factory rent $12,000 Activity Base Data Estimated number of DLH for the year 6,250 Estimated number of MH for the year 4,375 Compute the predetermined factory overhead rate for the current year. $5.76 per DLH Materials Requisition Date: Dec. 10 Reg. No. 12255 Job No. 83 Description Qty. Issued Unit Price Amount Yarn type B 600 skeins $5 $3,000 Total issued $3,000 Time Ticket No. 1255 Name: Susan Blake Work Description: Knitting/piecing Dates Job No. Hours Worked Unit Price Amount 12/01-12/15 62 65 $15 $975 12/16-12/31 83 103 15 1,545 Total Cost $2,520 Time Ticket No. 2274 Name: Josh Porter Work Description: Knitting/piecing Dates Job No. Hours Worked Unit Price Amount 12/01-12/15 62 75 $15 $1,125 12/16-12/31 83 88 15 1,320 Total Cost $2,445 Time Ticket No. 3923 Name: Mary Jones Work Description: Knitting/piecing Dates Job No. Hours Worked Unit Price Amount 12/01-12/15 62 60 $15 $900 12/16-12/31 83 109 15 1,635 Total Cost $2,535 Job 62 100 units: Sweaters Direct Materials Direct Labor Factory Overhead Total Balance Dec. 1 $5,000 $300 $104 $5,404 Dec. 15 Total Cost $ Unit Cost Job 83 Sweater vests 200 units: Direct Materials Direct Labor Factory Overhead Total Job Cost $0 $0 $0 Balance Dec. 1 Dec. 10 $0 Dec. 31 Total Cost Journal On December 10, POGP Company receives an order for 200 sweater vests and assigns Job 83 to the order. Review the Mate materials to Work in Process. If an amount box does not require an entry, leave it blank. Dec. 10 Feedback Check My Work Think about the flow of costs incurred to do a job and the accounts affected by sales to customers On December 15, review the Time Ticket tables to journalize the entry to record the addition of direct labor to Work in Proce does not require an entry, leave it blank. Dec. 15 On December 15, review the Time Ticket tables to Journalize the entry to record the addition of factory overhead to Work in Process for th box does not require an entry leave it blank, Dec. 15 Feedback Check My World Incorrect on December 21, Job 62 is completed. Review the Job Cost Sheets and your journal entries. Journalize the entry to move the associated not require an entry, leave it blank. Dec. 21 On December 22, 75 of the 100 sweaters from Job 62 are sold on account for $125 each. Journalize the following transactions: a. The entry to record the sale. b. The entry to record the transfer of costs from Finished Goods to cost of Goods Sold. If an amount box does not require an entry, leave it blank. Dec. 22 Dec. 22 Feedback Check My Work Incorrect On December 31, the last work day of the year for the knitters, review the Time Ticket tables to foumalize the entry to record the additio 16 through December 31. if an amount box does not require an entry leave it blank. Dec. 31 On December 31, the last work day of the year for the knitters, review the Time Ticket tables to journalize the entry to record the addition December 16 through December 31. If an amount box does not require an entry, leave it blank. Dec. 31 On December 31, journalize the following transactions. Note that expenses (b), (c), and (d) were paid in cash. a. One month's depreciation on equipment b. One month's payroll for all employees C. One month's rent of $1,000 d. One month's factory utilities of $1,275 if an amount box does not require an entry, leave it blank. Dec. 31 - On December 31, prepare the journal entry to dispose of the balance in the factory overhead account. It an amount box does not require an entry, leave it blank Dec 31 Feedback Check My W Incorrect Final Question What are the balances in the following accounts as of December 317 If an amount is zero, enter "0". Materials Work in Process Finished Goods 0.1 Factory Overhead Cost of Goods Sold
