Uudul ULUSL ULU.. why * Requirements e year Pre 1. Calculate Memory's predetermined overhead allocation rate for the year. 2. Prepare journal entries to record the events in the general 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 Memory Construction? Print Done Memory Construction, Inc. is a home Dund direct labor costs. For the year, it estimated construction A (Click the icon to view the events.) Read the requirements. Requirement 1. Calculate Memory's predetermined overh Actual direct labor cost Actual overhead cost Estimated direct labor cost Estimated overhead cost Choose from any list or enter any number in the input fields 14 parts It remaining O Ask me anything for the year Predeter a. Purchased materials on account, $420,000 Requisitioned direct materials and used direct labor in construction. Recorded the materials requisitioned. Direct Materials Direct Labor House 402 55,000 $ 46,000 House 403 66,000 32,000 House 404 64,000 55,000 House 405 88,000 54,000 C. The company incurred total wages of $220.000. Use the data from Item b to assign the wages. Wages are not yet paid. d. Depreciation of construction equipment, $6,300 e. Other overhead costs incurred: Equipment rentals paid in cash, $35,000: Worker liability insurance expired, $3,000. f. Allocated overhead to jobs. g. Houses completed: 402 404 h. House sold on account: 404 for $240,000 Print Done lick Check