Step 1 You work for Thunderduck Custom Tables Inc. This is the first month of operations. The company designs and manufactures specialty tables. Each table is specially customized for the customer. This month, you have been asked to develop and manufacture two new tables for customers. You will design and build the tables. This is a no nail, no screw, and no glue manufacturing (no indirect materials used). You will be keeping track of the costs incurred to manufacture the tables using Job #1 Cost Sheet and Job #2 Cost Sheet The cost of the direct materials that can be used to manufacture the table are as follows. These cost are on a per unit basis. Table Top $2,800.00 Table Leg $1,050.00 Drawer $480.00 The company uses a job order costing system and applies manufacturing overhead to jobs based on direct labor hours The company estimates that there will be 12 direct labor hours worked during the month The estimated manufacturing overhead cost for the month is a Factory supervisor salary per month b Rent for the factory per month Depreciation of factory equipment per month Total Estimated manufacturing overhead $4,000.00 $1,400.00 $600.00 $6,000.00 C What is the predetermined manufacturing overhead rate? Step 2 Qten 3 The first order you received was to manufacture a table using a table top and four legs. This is your Job #1 The customer that has ordered Job #2, wants a table that is the same as Job #1, but wants to also add a drawer to the table Step 2 Step 3 The first order you received was to manufacture a table using a table top and tour legs. This is your job #1 The customer that has ordered Job #2 wants a table that is the same as Job #1, but wants to also add a drawer to the table Step 4 The following is a list of transactions that need to be recorded for the company for activity in the month of December Record those in the "General Journal" tab of the excel file using the proper format. Please use the following accounts Accounts Receivables, Raw materials, Work in process, Finished goods, Accumulated depreciation Accounts payable Salones and was payable, Sales revenue, Manufacturing overhead, Cost of goods sold, Salaries and wages expense, Advertising oranges, and Depreciation expense 1-Dec 5-Dec 10-Dec Raw Materials purchased on account, $28.000 All Raw Materials needed for Job #1 were requisitioned from the material storage for use during the month Assure all materials are direct (After you journalize this entry please enter the information into Job #1 Cost Sheet) The following employee costs were incurred but not paid during the month There are three assembly employees that spend 2 hours each $30 per hour to make the table for Job #1 (After you journalize this entry please enter the information into Job #1 Cost Sheet) Salary for supervisor of the factory $4,500 Administrative Salary $2,000 All Raw Materials needed for Job #2 were requisitioned from the material storage for use during the month. Asume al menos are direct (After you journalize this entry please enter the information into Job 12 Cost Shoot) Rent for the month of December for the factory building incurred but not paid $1,400 Advertising costs incurred but not paid for the month was $1,200 15-Dec 16-Dec 17-Dec 20-Dec Depreciation for the month of December was recorded on equipment was $750 ($150 for equipment used in the factory and the remainder for equipment used in solling and administrative activities) Manufacturing overhead cost was applied based on direct labor hours to Job #t based on the POHR determined on the 30 22 Dec llantes Check Figure Cost of Goods Manufactured=$10,180 Net operating income-517.470 What is the ending balance for raw materials? What is the ending balance for work in process? What is the ending balance for finished goods? What is the actual manufacturing overhead cost incurred during December before adjustment? What is the total applied manufacturing overhead cost during December before adjustment? What is the unadjusted cost of goods sold? Was the manufacturing overhead for the month of December overapplied/underapplied? What is the amount of Manufacturing overhead overappliedunderapplied? What is the adjusted cost of goods sold? What is gross margin? What is the total prime cost for Job#1? What is the total conversion cost for job #1? What is the total product cost for job#1? What was the period cost incurred for the month of December? What is the total variable cost incurred for Job #1(assume that all selling and administrative cost and all manufacturing overhead costs are fixed ? What is the contribution margin for Job #1 (assume that all selling and administrative cost and all manufacturing overhead costs are fixed.)? What would be the actual (not applied) total fixed manufacturing overhead cost incurred for the company for the month if the order in Job #1 is for five tables instead of one table assuring this cost is with in the relevant range