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6) Prepare all journal entries for all product costs for Dec below in good form...

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Accounting

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6) Prepare all journal entries for all product costs for Dec below in good form

7) what is the balance in manufacturing overhead T-account at Dec 31 and should anything be done with it and if so prepare a journal entry

Cost Sheets; Overhead Rates; Journal Entries Kenworth Company em- ploys a job-order costing system. Only three jobs-job 105, job 106, and job 107were worked on during November and December. Job 105 was completed on December 10; the other two jobs were still in production on December 31, the end of the company's operating year. Job cost sheets on the three jobs are given below: Job Cost Sheet 32.000 Job 105 Job 106 Job 107 .. $16,500 13,000 $ 9,300 7,000 11,200 20,800 November costs incurred: Direct materials ...... Direct labor............ Manufacturing overhead .... December costs incurred: Direct materials ........ Direct labor .......... Manufacturing overhead ...... 8,200 6,000 4,000 ? 21,300 10,000 The following additional information is available: a. Manufacturing overhead is assigned to jobs on the basis of direct labor cost. b. Balances in the inventory accounts at November 30 were as follows: $40,000 Raw Materials ....... Work in Process ..... Finished Goods ...... 85,000

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