Super Cancion, Inc. Sed contacto comparte Content The company et de conformed on 51.100.000 de loco 2.750,000. The following codurre ut Cather) Feat aurent Carter wieder were you Prov Choose from winter any rober in the potesse Check 14. GRAM sation rat Requirements x 1. Calculate Superior's predetermined overhead allocation rate for the year. 2. Prepare journal entries to record the events in the geeral journal. 3. T-accounts for Work-in-Process Inventory and Finished Goods Inventory have been opened for you. Post the appropriate entries to these accounts, identifying each entry by letter. Determine the ending account balances, assuming that the beginning balances were zero. 4. Add the costs of the unfinished houses, and show that this total amount equals the ending balance in the Work-in-Process Inventory account. 5. Add the costs of the completed house that has not yet been sold, and show that this equals the ending balance in Finished Goods Inventory. 6. Compute gross profit on the house that was sold. What costs must gross profit cover for Superior Construction? Print Done Arizona: Superior uses a job order costing system in which each house is a job. Because it constructs houses, the company uses an account title For the year, it estimated construction overhead of $1,100,000 and total direct labor cost of $2,750,000. The following events occurred during Au More Info ained o a. Purchased materials on account, $400,000 b. Requisitioned direct materials and used direct labor in construction. Recorded the materials requisitioned. Direct Materials Direct Labor House 402 58,000 $ 44,000 House 403 63,000 38,000 House 404 61,000 56,000 House 405 82,000 53,000 c. The company incurred total wages of $270,000. Use the data from Item b to assign the wages. Wages are not yet paid. d. Depreciation of construction equipment, $6,700 e. Other overhead costs incurred: Equipment rentals paid in cash, $35,000; Worker liability insurance expired, $7,000. f. Allocated overhead to jobs. g. Houses completed: 402, 404 h. House sold on account: 404 for $260,000 Print Done in the input fields and then click Check