The following additional information is available: a. Manufacturing overhead is applied to jobs on the basis of direct labour cost. b. Balances in the inventory accounts at November 30 were as follows: $ 44,200 Raw Materials Work in Process Finished Goods $ 92,000 Required: 1. Prepare T-accounts for Raw Materials, Work in Process, Finished Goods, and Manufacturing Overhead. Enter the November 30 inventory balances given above; in the case of Work in Process, compute the November 30 balance and enter it into the Work in Process T-account. Beg. Bal. Beg. Bal. Raw Materials 44,200 33.000 5,050a. 6,150 Work in Process 87,880 33,000 68,470 b. 23,150 37,040| 112,600 End. Bal. End. Bal. 1 Next > Saved Help Save & Exit Submit Beg. Bal. Finished Goods 92,000 68,470 160.470 Beg. Bal. End. Bal. Manufacturing Overhead 0 5,050 37,040 d. 9,400 20,8901 1,700 End. Bal. Salaries & Wages Payable Accounts Payable Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. 2. Prepare journal entries for December as follows: a. Prepare an entry to record the issue of materials into production and post the entry to appropriate T-accounts. (In the case of direc materials, it is not necessary to make a separate entry for each job.) Indirect materials used during December totalled $5,050. (if no Ontruic reruired for transactionlovont colort "Neinurnal ant. rantired in the first account field Journal entry worksheet Help Save & Exit Record the issue of materials into production and Indirect materials used during December totalled $5,050. Note: Enter debits before credits. Event + General Journal Debit Credit 1 Clear entry Record entry View general journal nep Save & Exit b. Prepare an entry to record the incurrence of labour cost, and post the entry to appropriate T-accounts. In the case of direct labour cost, it is not necessary to make a separate entry for each job.) Indirect labour cost totalled $9.400 for December. If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Submit View transaction list Journal entry worksheet Record the incurrence of labour cost and Indirect labour cost totalled $9,400. Note: Enter debits before credits. General Journal Debit Event 1 Credit 2. Prepare an entry to record the incurrence of $20,890 in various actual manufacturing overhead costs for December (credit Accounts Payable). Post this entry to the appropriate T-accounts. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the entry for actual manufacturing overhead costs for December. Note: Enter debits before credits. General Journal Debit Credit Event 1 3-a. What apparent predetermined overhead rate does the company use to assign overhead cost to jobs? Predetermined overhead rate 3-b. Prepare a journal entry to record the application of overhead cost to jobs for December (it is not necessary to make a separate entry for each job). Post this entry to the appropriate T-accounts: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the entry to record the application of overhead cost to jobs for 1:36 2019-1 Help Save & Exit Submit Journal entry worksheet Record the entry to record the application of overhead cost to jobs for December Note: Enter debits before credits. Event General Journal Debit Credit - All View general journal Clear entry Record entry 4. As stated earlier, Job 105 was completed during December. Prepare a journal entry to show the transfer of this job off the production line and into the finished goods warehouse. Post the entry to the appropriate T-accounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the entry to show the transfer of work in process to finished goods. Note: Enter debits before credits. Event General Journal Debit Credit