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4-31. JOB COSTING, JOURNAL ENTRIES. Docks Transport assembles prestige manufactured homes. Its job-costing system has two direct-cost categories (direct materials and direct manufacturing labor) and one indirect-cost pool (manufacturing overhead allocated at a budgeted $21 per machine-hour in 2020). The following data (in millions) show operation costs for 2020: $ 13 4 Materials Control, beginning balance, January 1, 2020 Work-in-Process Control, beginning balance, January 1, 2020 Finished Goods Control, beginning balance January 1, 2020 Materials and supplies purchased on credit 7 154 Direct materials used 147 19 90 32 26 Indirect materials (supplies) issued to various production departments Direct manufacturing labor Indirect manufacturing labor incurred by various production departments Depreciation on plant and manufacturing equipment Miscellaneous manufacturing overhead incurred (ordinarily would be detailed as repairs, utilities, etc., with a corresponding credit to various liability accounts) Manufacturing overhead allocated, 4,000,000 actual machine-hours Cost of goods manufactured 14 2 295 Revenues 400 Cost of goods sold 293 Required 1. Identify the components of the overview diagram of Docks Transport's job-costing system. 2. Prepare journal entries. Number your entries. Explanations for each entry may be omitted. Post to T-accounts. What is the ending balance of Work-in-Process Control? 3. Show the journal entry for adjusting for under- or overallocated manufacturing overhead directly as a year-end writeoff to Cost of Goods Sold. Post the entry to T-accounts. 4. How did Docks Transport perform in 2020

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