Prepare a General Journal Entries. Include recording materials, labor, overhead, etc., etc. It is your responsibility to provide journal entries for all purchases, natural flow into WIP (materials, labor, and overhead). A time sheet has been provided for you. This should be accounted for as direct labor. The cost of your hours will be recorded as overhead (indirect labor.) Your hourly rate is $16/ hour. Prepare a timesheet for your time.You will apply overhead based on 200% of direct labor cost. You will assume the final package has been sold for $225.00. Record your entries for the sale.Entries 1 & 2. Use the requisition (acting both like a purchase order and requisition). The amount on the requisition IS the number of raw materials. Entry 3. Account for time. You have two time sheets. The one completed is for direct labor. The other is your time sheet, which is indirect labor on this project and the amount will be the ONLY actual Overhead on this project. Entry 4 Apply overhead using the rate. Entry 5. Move WIP (close it out) to finished goods. Entry 6 Record sale. Entry 7 record COGS. Entry 8 closeout manufacturing #1. Your job cost card should agree to WIP.

1, 2. using full cost, if you want to make a 300% profit, you would have to sell your-product" for what amount? What profit did you actually make, assuming a sales price of $225.00 Cost Summary Materials Direct Materials Direct Labor Manufact Overhead L0 1 Date 12 Cost Date Cost Date Cost 200% of 14 S Total 16 Purchase Requisition #1 DATE Total 1-Sep 17 Item No. Item Unit Cost Total Amount 1PAMPERS SENSITIVE WIPES 2 PAMPERS CRUISERS DIAPERS 3|JOHNSON & JOHNSON FACE WIPES 4 PKG 1 PKG 4 PKG 2.97 8.99 2.99 11.88 8.99 11.96 OHNSON&JOHNSON BABY BATH 4 (VAPOR OR HEAD TO TOE CLOROX WIPES (75 6 ROOM ESSENTIALS FABRIC DRAWER 1 BTL 2 PKG 4.49 4.69 6.99 4.49 10.99 6.99 CARTWHEEL DISCOUNT (SELECT ITEMS) COUPONS USED TAXES PAID 5.50) 2.50 4.45 TOTAL AMOUNT$ 56.75