Prepare the journal entries to record Concord's costs for 2017. (Use Salaries Payable and Wages Payable accounts for payroll costs.) (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Post entries in order presented in the problem. Round answers to 0 decimal places, e.g. 5,275.) No. Account Titles and Explanation Debit Credit (To record salaries for president, vice president, and corpoarte secretary) (To record salaried factory worker costs) (To record hourly factory worker costs) (To record depreciation on administrative office equipment) (To record depreciation on factory building and equipment) (To record administrative office utilities and office supplies expense) . (To record factory insurance and factory utilities) (To record raw materials purchases) (To record direct materials and indirect materials used in production) (To apply overhead to work in process) (To record transfer of completed airplanes) (To record sale of airplanes to customers) (To record cost of airplanes sold) LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT Your answer is partially correct. Try again. Prepare the appropriate T accounts for Raw Materials Inventory, Work in Process Inventory, Finished Goods Inventory Manufacturing Overhead Control, Cost of Goods Sold, and Sales, and record Concord's transactions for 2017. (Post entries in order presented in the problem. Round answers to O decimal places, eg. 5,275.) Raw Materials Work in Process Inventory OOO OOOOO DOO Finished Goods Inventory Manufacturing Overhead O O OOOOOO Cost of Goods Sold Sales Revenue LINK TO TEXTLINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO VIDEO LINK TO VIDEO x Your answer is incorrect. Try again. Was manufacturing under- or overapplied in 2017? By how much? (Round answer to o decimal places, e.g. 5,275.) Overheads LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT INK TO VIDEO LINK TO VIDEO X Your answer is incorrect. Try again. Make the adjusting entry necessary to close the under- or overapplied overhead to cost of goods sold. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to O decimal places, e.g. 5,275.) Account Titles and Explanation Debit Credit LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO VIDEO LINK TO VIDEO x Your answer is incorrect. Try again. If Concord chooses instead to prorate under or overapplied overhead, what are the adjusted Work in Process Inventory, Finished Goods Inventory and Cost of Goods Sold account balances for 2017? (Round of total to 2 decimal places, e.g. 55.75 and final answers to o decimal places, e.g. 5,275.) Adjusted Balance Work In Process Finished Goods Cost of Goods Sold x Your answer is incorrect. Try again. Job 3827 was started and completed in 2017. The job required 400 machine hours, 700 direct labor hours, and $80,000 in direct materials to complete. What was the total cost of this job? Using Concord's 80% markup, what sales price would be charged for this airplane? (Round answers to o decimal places, e.g. 5,275.) Total Cost Sales Price LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO VIDEO LINK TO VIDEO Your answer is incorrect. Try again. If Concord had chosen to use machine hours as its overhead application base, what would the rate have been in 2017? (Round answer to 2 decimal places, e.g. 52.75.) Predetermined rate $ Click if you would like to Show Work for this question: Open Show Work