PRODUCT	PRINCIPLES	INTERMEDIATE	ADVANCED	TAX	TOTALS
Quantity	20,000	20,000	10,000	10,000
Ink	1@$10	2@$10	3@10	4@$10
Paper	1@$5	2@$5	2@$5	4@$5
Labor productivity	20 books per hour	10 books per hour	10 book per hour	5 book per hour
Labor rate	$40 per hour	$40 per hour	$40 per hour	$40 per hour
Selling price multiple	4	4	2	2
Labor hours	?	?	?	?	?

ASSUME TOTAL OVERHEAD IS $150,000

Journal Entry	PRINCIPLES	INTERMEDIATE	ADVANCED	TAX	Total
Purchased Ink					150,000
Purchased Paper					150,000
Ink to WIP	20,000	40,000	30,000	40,000
Paper to WIP	20,000	40,000	20,000	40,000
Actual labor hours	900	2,100	1,100	1,900
Applied overhead
Completed books	15,000	18,000	9,000	10,000
Books Sold	10,000	15,000	8,000	10,000
Actual Overhead					175,000

journal entries?

Cost of Goods Manufactured?

Cost of Goods Sold and Gross Margin?