The University of Waterloo Pola wholly owned by the university. It performs the bulk of its work for other university departments which pay as though the press weten otsida butikens enterprise The publishes and maintain a stock of books for generals The prom us normal conting to cost ach job is job contingut has two direct cont categorie (direct materials and deed menuturing and onu ladiect-cost pool manufacturing overhead alocated on the basis of direct manufacturing labour costs). The following data in thousanda) pertain to 2017 (Click the icon to view the data) Requirements. Prepare journal entries to summarize the 2017 transaction. As your final entry, dispone of the year and under of overallocated manufacturing overheads wite or to cost of Gooth Solid Number your entries Explanation for each entry may be omitted (Record debits Get the credits Exclude exploration from any oumaltlos) Direct materials and supple purchased on credi, 5860 Journal Entry Accounts Insthousandu) Debli Credit Choose from any or enter any number in the input Delds and then continue to the next question 3 Data 860 750 130 Direct materials and supplies purchased on credit Direct materials used Indirect materials issued to various production departments Direct manufacturing labour Indirect manufacturing labour incurred by various production departments Depreciation on building and manufacturing equipment Miscellaneous manufacturing overhead incurred by various production departments (ordinarily would be detailed as repairs, photocopying, utilities ofc) Manufacturing overhead allocated at 160% of direct manufacturing about costs Cost of goods manufactured Revenue Cost of goods sold (before adjustment for under or overallocated manufacturing overhead) Inventories December 31, 2016 (not 2017) 1,350 950 430 560 4,130 8,500 4.050 Print Done Depreciation on building and manufacturing equipment 430 Miscellaneous manufacturing overhead incurred by various production departments (ordinarily would be detalled as repairs, photocopying, utilities, etc.) 560 Manufacturing overhead allocated at 160% of direct manufacturing labour costs Cont of goods manufactured 4,130 Revenues 8.500 Cost of goods sold before adjustment for under-or overallocated manufacturing overhead) 4,050 Inventorien December 31, 2016 (not 2017) Materials Control 130 Work In Process Control Finished Goods Control 560 "The term manufacturing overhead is not used uniformly. Other forms that are often encountered in printing companies Include job overhead and shop overhead 85 Required 1. Identify the components of the Iverview diagram of the job-costing system at the University of Waterloo Press 2. Prepare journal entries to summarize the 2017 transactions. As your final entry, dispose of the year-end under-or overallocated manufacturing overhead as a write-off to Cost of Goods Sold, Number your entries. Explanations for each entry may be omitted, 3. Show posted T-accounts for all inventories, Cost of Goods Sold, Manufacturing Overhead Control, and Manufacturing Overhead Allocated 4. How did the University of Waterloo Press perform in 2017? Print Done Record the direct materials used, 750 Journal Entry Accounts Debit Credit (In thousands) (2) Record the indirect materials used, 5130. Inumal Entry Choose from any list or enter any number in the input fields and then continue to the next question Journal Entry Accounts Debit Credit (In thousands) Record the cost of the direct and indirect labout used in production, 51,350 and 5950, respectively (Combine the entries to record direct and indirect lat Journal Entry Accounts Debit Credit Choose from any to enter any number in the input nelds and then continue to the next question Journal Entry Accounts Debit Credit (In thousands) Record the entry for depreciation, 5430 Journal Entry Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question Journal Entry Accounts Debit Credit (In thousands) (5) Record the miscellaneous manufacturing overhead costs, 5550 Journal Entry Accounts Debit Credit Choose from any list or enter any number in the input nelds and then continue to the next question Journal Entry Accounts Debit Credit (In thousando) ecord the allocation of the manufacturing overhead. Journal Entry Accounts Debit Credit (In thousands) Record the cost of goods manufactured, 54,130 Journal Entry Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question Journal Entry Accounts Debit Credit (In thousands) Record the revenues, 58,500 Journal Entry Accounts Debit Credit Choose from any ist or enter any number in the input helds and then continue to the next question Journal Entry Accounts Debit Credit (In thousands) (9) Record the cost of goods sold. 54.050 Journal Entry Accounts Credit Choose from any list or enter any number in the input fields and then continue to the next question Debit Journal Entry Accounts Debit Credit (In thousands) 10) Dispose of the year-end under- or overallocated manufacturing overhead. Journal Entry Accounts Debit Credit (In thousands) Choose from any list or enter any number in the input fields and then continue to the next question The University of Waterloo Pola wholly owned by the university. It performs the bulk of its work for other university departments which pay as though the press weten otsida butikens enterprise The publishes and maintain a stock of books for generals The prom us normal conting to cost ach job is job contingut has two direct cont categorie (direct materials and deed menuturing and onu ladiect-cost pool manufacturing overhead alocated on the basis of direct manufacturing labour costs). The following data in thousanda) pertain to 2017 (Click the icon to view the data) Requirements. Prepare journal entries to summarize the 2017 transaction. As your final entry, dispone of the year and under of overallocated manufacturing overheads wite or to cost of Gooth Solid Number your entries Explanation for each entry may be omitted (Record debits Get the credits Exclude exploration from any oumaltlos) Direct materials and supple purchased on credi, 5860 Journal Entry Accounts Insthousandu) Debli Credit Choose from any or enter any number in the input Delds and then continue to the next question 3 Data 860 750 130 Direct materials and supplies purchased on credit Direct materials used Indirect materials issued to various production departments Direct manufacturing labour Indirect manufacturing labour incurred by various production departments Depreciation on building and manufacturing equipment Miscellaneous manufacturing overhead incurred by various production departments (ordinarily would be detailed as repairs, photocopying, utilities ofc) Manufacturing overhead allocated at 160% of direct manufacturing about costs Cost of goods manufactured Revenue Cost of goods sold (before adjustment for under or overallocated manufacturing overhead) Inventories December 31, 2016 (not 2017) 1,350 950 430 560 4,130 8,500 4.050 Print Done Depreciation on building and manufacturing equipment 430 Miscellaneous manufacturing overhead incurred by various production departments (ordinarily would be detalled as repairs, photocopying, utilities, etc.) 560 Manufacturing overhead allocated at 160% of direct manufacturing labour costs Cont of goods manufactured 4,130 Revenues 8.500 Cost of goods sold before adjustment for under-or overallocated manufacturing overhead) 4,050 Inventorien December 31, 2016 (not 2017) Materials Control 130 Work In Process Control Finished Goods Control 560 "The term manufacturing overhead is not used uniformly. Other forms that are often encountered in printing companies Include job overhead and shop overhead 85 Required 1. Identify the components of the Iverview diagram of the job-costing system at the University of Waterloo Press 2. Prepare journal entries to summarize the 2017 transactions. As your final entry, dispose of the year-end under-or overallocated manufacturing overhead as a write-off to Cost of Goods Sold, Number your entries. Explanations for each entry may be omitted, 3. Show posted T-accounts for all inventories, Cost of Goods Sold, Manufacturing Overhead Control, and Manufacturing Overhead Allocated 4. How did the University of Waterloo Press perform in 2017? Print Done Record the direct materials used, 750 Journal Entry Accounts Debit Credit (In thousands) (2) Record the indirect materials used, 5130. Inumal Entry Choose from any list or enter any number in the input fields and then continue to the next question Journal Entry Accounts Debit Credit (In thousands) Record the cost of the direct and indirect labout used in production, 51,350 and 5950, respectively (Combine the entries to record direct and indirect lat Journal Entry Accounts Debit Credit Choose from any to enter any number in the input nelds and then continue to the next question Journal Entry Accounts Debit Credit (In thousands) Record the entry for depreciation, 5430 Journal Entry Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question Journal Entry Accounts Debit Credit (In thousands) (5) Record the miscellaneous manufacturing overhead costs, 5550 Journal Entry Accounts Debit Credit Choose from any list or enter any number in the input nelds and then continue to the next question Journal Entry Accounts Debit Credit (In thousando) ecord the allocation of the manufacturing overhead. Journal Entry Accounts Debit Credit (In thousands) Record the cost of goods manufactured, 54,130 Journal Entry Accounts Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question Journal Entry Accounts Debit Credit (In thousands) Record the revenues, 58,500 Journal Entry Accounts Debit Credit Choose from any ist or enter any number in the input helds and then continue to the next question Journal Entry Accounts Debit Credit (In thousands) (9) Record the cost of goods sold. 54.050 Journal Entry Accounts Credit Choose from any list or enter any number in the input fields and then continue to the next question Debit Journal Entry Accounts Debit Credit (In thousands) 10) Dispose of the year-end under- or overallocated manufacturing overhead. Journal Entry Accounts Debit Credit (In thousands) Choose from any list or enter any number in the input fields and then continue to the next