Process Costing, Job Order Costing In Class Practice 1. Minnie's Mints uses a Process costing System. Calculate the manufacturing cost per pie for July based on the following information : Beginning work in process inventory 4,000 pies Ples placed in process 30,000 Ending work in process inventory 7,000 The ending work in process inventory is 100% complete as to material and 60% complete as to direct labor and manufacturing overhead. Production Costs for July Direct Materials Cost $50,000 Direct Labor cost $30,000 Manufacturing Overhead $20,000. 2. Tara's Treasures uses a job order costing system. 7-1: Katy Perry orders a gold necklace 7-3: 10 ounces of gold requested from the warehouse. The gold costs $400 per ounce. Between Julu 3rd and July 10Th The factory works on the necklace, Direct material charged 50 hours at S60 per hour. Manufacturing overhead is allocated based on direct laboe hours. The rate is $20 per hour. 7-11: The bracelet is finished and sent to the warehouse 7-12: The necklace is delivered to Katy Perry and she is billed $15,000 7-13: Katy Perry returns the necklace for a full refund. Prepare the appropriate journal entries and post them to the ledger, 3. Polly's Popcorn Manufacturing Overhed applied to jobs in June was $200,000 the actual manufacturing overhead was $240,000. The balance in Work in porocee inventory was $200 000, the balance in finished goods inventory was $600,000 and the balance in Cost of Goods Sold was $1,000,000. Prepare the required adjusting journal entry for June 30th 4. Molly's Muffins Manufacturing Overhed applied to jobs in July was $300,000 the actual manufacturing overhead was $270,000. The balance in Work in porocee inventory was $600,000, the balance in finished goods inventory was $800,000 and the balance in Cost of Goods Sold was $1,200,000. Prepare the required adjusting journal entry for July 31st