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Purl of Great Price Company Maria Young is the sole stockholder of Purl of Great Price Company ( POGP Company ) , which produces high
Purl of Great Price Company
Maria Young is the sole stockholder of Purl of Great Price Company POGP Company which produces highend knitted sweaters and sweater vests for sale to retail outlets. The company started in January of the current year, and employs three knitters each of whom work hours per week and one office managerknitting supervisor this employee works hours per week as office manager, and hours per week as knitting supervisor All wages are paid in cash at the end of each month.
Each knitter has a knitting machine that is used about of the knitters time, the rest of the knitters time being involved in hand knitting and piecing together the garments. The company also has a packaging machine used to wrap the garments in plastic for shipping, which is operated by the office managerknitting supervisor approximately hours per week.
The knitting machines were purchased on January of the current year, and cost $ each, with an anticipated useful life of years and no salvage value. The packaging machine was purchased on the same date and cost $ with the same anticipated useful life and salvage value.
Question Content Area
Nov. Trial Balance
POGP Company
Trial Balance
November Y
Account Title Debit Credit
Cash
Accounts Receivable
Supplies
Materials
Work in Process
Equipment
Accumulated DepreciationEquipment
Accounts Payable
Common Stock
Retained Earnings
Dividends
Sales
Cost of Goods Sold
Factory Overhead
Wages Expense
Predetermined Factory Overhead Rate
Since the company is more reliant on labor than machines, Maria decides to use direct labor hours DLH as the activity base for her predetermined factory overhead rate, rather than machine hours MH
Estimated Selected Amounts for the Year
Estimated depreciation on equipment $
Estimated total Office ManagerKnitting Supervisor wages $
Estimated office utilities $
Estimated factory utilities $
Estimated factory rent $
Activity Base Data
Estimated number of DLH for the year
Estimated number of MH for the year
Compute the predetermined factory overhead rate for the current year.
$ per DLH
Question Content Area
Materials Requisition Date: Dec.
Req. No Job No
Description Qty Issued Unit Price Amount
Yarn type B skeins $ $
Total issued $
Time Ticket No Name: Susan Blake
Work Description: Knittingpiecing
Dates Job No Hours Worked Unit Price Amount
$ $
Total Cost $
Time Ticket No Name: Josh Porter
Work Description: Knittingpiecing
Dates Job No Hours Worked Unit Price Amount
$ $
Total Cost $
Time Ticket No Name: Mary Jones
Work Description: Knittingpiecing
Dates Job No Hours Worked Unit Price Amount
$ $
Total Cost $
Job Cost Sheets
On December POGP Company receives an order for sweater vests and assigns Job to the order. Review the Materials Requisition table to add the materials to the Job Cost Sheet for Job
On December review the Time Ticket tables to add the appropriate amount of direct labor and factory overhead costs to the Job Cost Sheet for Job for the period December through December
On December the last work day of the year for the knitters, review Time Ticket tables to add the appropriate amount of direct labor and factory overhead costs to the Job Cost Sheet for Job for the period December through December
If there is no amount or an amount is zero, enter If required, round your answers to the nearest cent.
Job units: Sweaters
Direct Materials Direct Labor Factory Overhead Total
Balance Dec. $ $ $ $
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Unit Cost $fill in the blank efcfc
Job units: Sweater vests
Direct Materials Direct Labor Factory Overhead Total Job Cost
Balance Dec. $ $ $ $
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Please help me solve this most of my answer is wrong.
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