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tion.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/act Saved Help Required information [The following information applies to the questions displayed below.) Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March-Job P and Job Q. Job P was completed and sold by the end of March and Job Q was incomplete at the end of March. The company uses a plantwide predetermined overhead rate based on direct labour-hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per direct labour-hour Estimated total direct labour-hours to be worked Total actual manufacturing overhead costs incurred $ 16,000 $ 1.90 4,000 $ 22,200 Job P $ 22,700 $ 58,900 3,100 Job O $ 8,500 $ 10,450 550 Direct materials Direct labour Actual direct labour-hours worked SE Next 8. Assume the ending raw materials inventory is $3,000 and the company does not use any indirect materials. Prepare cost of goods manufactured. (Do not leave any empty spaces; input a 0 wherever it is required.) Schedule of Cost of Goods Manufactured Direct materials Raw materials inventory, beginning $ Add: Purchases of raw materials Total raw materials available Less: Raw materials inventory, ending Raw materials used in production Direct labour Manufacturing overhead applied to work in process inventory Total manufacturing costs AddBeginning work in process inventory 0 34200 34 200 3,000 $ 31.200 69.350 21.535 122.085 0 122.085 Less Ending work in process inventory Cost of goods manufactured $ 122085 Required information [The following information applies to the questions displayed below.) Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March --Job P and Job Q. Job P was completed and sold by the end of March and Job Q was incomplete at the end of March. The company uses a plantwide predetermined overhead rate based on direct labour-hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per direct labour-hour Estimated total direct labour hours to be worked Total actual manufacturing overhead costs incurred $ 16,000 $ 1.90 4,000 $ 22,200 Direct materials Direct labour Actual direct labour-hours worked Job P $ 22,700 $ 58,900 3,100 Job 5 8,500 $ 10,450 550 8. Assume the ending raw materials inventory is $3,000 and the company does not use any indirect materials. Prepare a schedule of cost of goods manufactured. (Do not leave any empty spaces; input a wherever it is required.) 0 34,200 34,200 3,000 Schedule of Cost of Goods Manufactured Direct materials Raw materials inventory, beginning $ Add: Purchases of raw materials Total raw materials available Less: Raw materials inventory, ending Raw materials used in production Direct labour Manufacturing overhead applied to work in process inventory Total manufacturing costs Add: Beginning work in process inventory $ 31 200 69,350 21,535 122,085 0 122,085 $ 122.085 Less: Ending work in process inventory Cost of goods manufactured Required information [The following information applies to the questions displayed below.) Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March-Job P and Job Q. Job P was completed and sold by the end of March and Job Q was incomplete at the end of March. The compariy uses a plantwide predetermined overhead rate based on direct labour-hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March); $ 16,000 $ 1.90 Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per direct labour-hour Estimated total direct labour-hours to be worked Total actual manufacturing overhead costs incurred $ 22,200 Job P $ 22,700 $ 58,900 3.100 Job $ 8,500 $ 10,450 550 Direct materials Direct labour Actual direct labour-hours worked 4 8. Assume the ending raw materials inventory is $3,000 and the company does not use any indirect materials. Prepare a schedule of cost of goods manufactured. (Do not leave any empty spaces; input a o wherever it is required.) 0 Schedule of Cost of Goods Manufactured Direct materials Raw materials inventory, beginning $ Add: Purchases of raw materials Total raw materials available Less: Raw materials inventory, ending Raw materials used in production Direct labour Manufacturing overhead applied to work in process inventory Total manufacturing costs 'Add: Beginning work in process inventory S 0 ses 0 0 0 $ 0 Less: Ending work in process inventory Cost of goods manufactured Check Ravsten Company uses a job-order costing system. On January 1, the beginning of the current year, the company's inventory balances were as follows: Raw materials Work in process Finished goods $25,500 $13,800 $31,900 The company applies overhead cost to jobs on the basis of machine-hours. For the current year, the company estimated that it would work 37,900 machine-hours and incur $151,600 in manufacturing overhead cost. The following transactions were recorded for the year a. Raw materials were purchased on account: $238.000 b. Raw materials were requisitioned for use in production $209,000 (90% direct and 10% indirect). c. The following costs were incurred for employee services Direct labour Indirect labour Sales commissions Administrative salaries $175,200 $ 30,800 $ 41,700 $ 87,600 d. Heat, power, and water costs were incurred in the factory: $50,550. e. Prepaid insurance expired during the year $19,500 (75% relates to factory operations, and 25% relates to selling and administrative activities) f. Advertising costs were incurred, $59,500. g. Depreciation was recorded for the year: $71,400 (80% relates to factory operations, and 20% relates to selling and administrative activities) h. Manufacturing overhead cost was applied to production. The company recorded 43,800 machine-hours for the year. 1. Goods that cost $534,600 to manufacture according to their job cost sheets were transferred to the finished goods warehouse j. Sales for the year totalled $788,400 and were all on account. The total cost to manufacture these goods according to their job cost sheets was $525,800. Required: 1. Prepare journal entries to record the transactions given above. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Che 2. Prepare T-accounts for inventories, Manufacturing Overhead, and Cost of Goods Sold. Post relevant data from your journal entries to these T-accounts (don't forget to enter the opening balances in your inventory accounts). Compute an ending balance in each account Raw Materials Beg Bal Manufacturing Overhead Beg Bal End Bal 0 nces End Bal Work in Process Cost of Goods Sold Beg Bal Beg Bal End Bal 0 End Bal Finished Goods Beg Bal tion.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fnewconnect.mheducation.com%252F#/act Saved Help Required information [The following information applies to the questions displayed below.) Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March-Job P and Job Q. Job P was completed and sold by the end of March and Job Q was incomplete at the end of March. The company uses a plantwide predetermined overhead rate based on direct labour-hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per direct labour-hour Estimated total direct labour-hours to be worked Total actual manufacturing overhead costs incurred $ 16,000 $ 1.90 4,000 $ 22,200 Job P $ 22,700 $ 58,900 3,100 Job O $ 8,500 $ 10,450 550 Direct materials Direct labour Actual direct labour-hours worked SE Next 8. Assume the ending raw materials inventory is $3,000 and the company does not use any indirect materials. Prepare cost of goods manufactured. (Do not leave any empty spaces; input a 0 wherever it is required.) Schedule of Cost of Goods Manufactured Direct materials Raw materials inventory, beginning $ Add: Purchases of raw materials Total raw materials available Less: Raw materials inventory, ending Raw materials used in production Direct labour Manufacturing overhead applied to work in process inventory Total manufacturing costs AddBeginning work in process inventory 0 34200 34 200 3,000 $ 31.200 69.350 21.535 122.085 0 122.085 Less Ending work in process inventory Cost of goods manufactured $ 122085 Required information [The following information applies to the questions displayed below.) Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March --Job P and Job Q. Job P was completed and sold by the end of March and Job Q was incomplete at the end of March. The company uses a plantwide predetermined overhead rate based on direct labour-hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per direct labour-hour Estimated total direct labour hours to be worked Total actual manufacturing overhead costs incurred $ 16,000 $ 1.90 4,000 $ 22,200 Direct materials Direct labour Actual direct labour-hours worked Job P $ 22,700 $ 58,900 3,100 Job 5 8,500 $ 10,450 550 8. Assume the ending raw materials inventory is $3,000 and the company does not use any indirect materials. Prepare a schedule of cost of goods manufactured. (Do not leave any empty spaces; input a wherever it is required.) 0 34,200 34,200 3,000 Schedule of Cost of Goods Manufactured Direct materials Raw materials inventory, beginning $ Add: Purchases of raw materials Total raw materials available Less: Raw materials inventory, ending Raw materials used in production Direct labour Manufacturing overhead applied to work in process inventory Total manufacturing costs Add: Beginning work in process inventory $ 31 200 69,350 21,535 122,085 0 122,085 $ 122.085 Less: Ending work in process inventory Cost of goods manufactured Required information [The following information applies to the questions displayed below.) Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. It started only two jobs during March-Job P and Job Q. Job P was completed and sold by the end of March and Job Q was incomplete at the end of March. The compariy uses a plantwide predetermined overhead rate based on direct labour-hours. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March); $ 16,000 $ 1.90 Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per direct labour-hour Estimated total direct labour-hours to be worked Total actual manufacturing overhead costs incurred $ 22,200 Job P $ 22,700 $ 58,900 3.100 Job $ 8,500 $ 10,450 550 Direct materials Direct labour Actual direct labour-hours worked 4 8. Assume the ending raw materials inventory is $3,000 and the company does not use any indirect materials. Prepare a schedule of cost of goods manufactured. (Do not leave any empty spaces; input a o wherever it is required.) 0 Schedule of Cost of Goods Manufactured Direct materials Raw materials inventory, beginning $ Add: Purchases of raw materials Total raw materials available Less: Raw materials inventory, ending Raw materials used in production Direct labour Manufacturing overhead applied to work in process inventory Total manufacturing costs 'Add: Beginning work in process inventory S 0 ses 0 0 0 $ 0 Less: Ending work in process inventory Cost of goods manufactured Check Ravsten Company uses a job-order costing system. On January 1, the beginning of the current year, the company's inventory balances were as follows: Raw materials Work in process Finished goods $25,500 $13,800 $31,900 The company applies overhead cost to jobs on the basis of machine-hours. For the current year, the company estimated that it would work 37,900 machine-hours and incur $151,600 in manufacturing overhead cost. The following transactions were recorded for the year a. Raw materials were purchased on account: $238.000 b. Raw materials were requisitioned for use in production $209,000 (90% direct and 10% indirect). c. The following costs were incurred for employee services Direct labour Indirect labour Sales commissions Administrative salaries $175,200 $ 30,800 $ 41,700 $ 87,600 d. Heat, power, and water costs were incurred in the factory: $50,550. e. Prepaid insurance expired during the year $19,500 (75% relates to factory operations, and 25% relates to selling and administrative activities) f. Advertising costs were incurred, $59,500. g. Depreciation was recorded for the year: $71,400 (80% relates to factory operations, and 20% relates to selling and administrative activities) h. Manufacturing overhead cost was applied to production. The company recorded 43,800 machine-hours for the year. 1. Goods that cost $534,600 to manufacture according to their job cost sheets were transferred to the finished goods warehouse j. Sales for the year totalled $788,400 and were all on account. The total cost to manufacture these goods according to their job cost sheets was $525,800. Required: 1. Prepare journal entries to record the transactions given above. (Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required in the first account field.) Che 2. Prepare T-accounts for inventories, Manufacturing Overhead, and Cost of Goods Sold. Post relevant data from your journal entries to these T-accounts (don't forget to enter the opening balances in your inventory accounts). Compute an ending balance in each account Raw Materials Beg Bal Manufacturing Overhead Beg Bal End Bal 0 nces End Bal Work in Process Cost of Goods Sold Beg Bal Beg Bal End Bal 0 End Bal Finished Goods Beg Bal

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