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las 101 5-6 5-7 5-8 5-9 5-10 Assume that the company does not use any indirect labour. Prepare the journal entry to record the direct labour costs added to production. Prepare the journal entry to apply manufacturing overhead costs to production. Assume the ending raw materials inventory is $1,000 and the company does not use any indirect materials. Prepare a schedule of cost of goods manufactured. Prepare the journal entry to transfer costs from Work in Process to Finished Goods. Prepare a completed Work in Process T-account including the beginning and ending balances and all debits and credits posted to the account. Prepare a schedule of cost of goods sold. (Stop after computing the unadjusted cost of goods sold.) Prepare the journal entry to transfer costs from Finished Goods to Cost of Goods Sold. What is the amount of underapplied or overapplied overhead? Prepare the journal entry to close the amount of underapplied or overapplied overhead to the appropriate account. 5-11 512 5-13 5-14 Job P Job Q Direct materials $13,000 $8,000 Direct labour $21,000 $7,500 Actual direct labour-hours worked 1,400 500 5-1 5-2 53 5-4 5_5 What is the company's predetermined overhead rate? How much manufacturing overhead was applied to Job P and Job Q? What is the direct labour hourly wage rate? If Job P includes 20 units, what is its unit product cost? What is the total amount of manufacturing cost assigned to Job Q as of the end of March (including applied overhead)? Assume the ending raw materials inventory is $1,000 and the company does not use any indirect materials. Prepare the journal entries to record raw materials purchases and the issuance of direct materials for use in production. Assume that the company does not use any indirect labour. Prepare the journal entry to record the direct labour costs added to production. Prepare the journal entry to apply manufacturing overhead costs to production. Assume the ending raw materials inventory is $1,000 and the company does not use any indirect materials. Prepare a schedule of cost of goods manufactured. Prepare the journal entry to transfer costs from Work in Process to Finished Goods. Prepare a completed Work in Process T-account including the beginning and ending balances and all 5-6 5-7 5-8 5-9 5-10 FOUNDATIONAL EXERCISES connect [LO2 , L03Q, L04Q, L050, L06 , L07@] 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 Page 171 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): $10,000 Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per direct labour-hour $ 1.00 Estimated total direct labour-hours to be worked 2,000 Total actual manufacturing overhead costs incurred $12,500 Job P Job Q Direct materials $13 non $8.non 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): Page 171 Estimated total fixed manufacturing overhead $10,000 Estimated variable manufacturing overhead per direct labour-hour $ 1.00 Estimated total direct labour-hours to be worked 2,000 Total actual manufacturing overhead costs incurred $12,500 Job P Job Q. Direct materials $13,000 $8,000 Direct labour $21,000 $7,500 1,400 500 Actual direct labour-hours worked las 101 5-6 5-7 5-8 5-9 5-10 Assume that the company does not use any indirect labour. Prepare the journal entry to record the direct labour costs added to production. Prepare the journal entry to apply manufacturing overhead costs to production. Assume the ending raw materials inventory is $1,000 and the company does not use any indirect materials. Prepare a schedule of cost of goods manufactured. Prepare the journal entry to transfer costs from Work in Process to Finished Goods. Prepare a completed Work in Process T-account including the beginning and ending balances and all debits and credits posted to the account. Prepare a schedule of cost of goods sold. (Stop after computing the unadjusted cost of goods sold.) Prepare the journal entry to transfer costs from Finished Goods to Cost of Goods Sold. What is the amount of underapplied or overapplied overhead? Prepare the journal entry to close the amount of underapplied or overapplied overhead to the appropriate account. 5-11 512 5-13 5-14 Job P Job Q Direct materials $13,000 $8,000 Direct labour $21,000 $7,500 Actual direct labour-hours worked 1,400 500 5-1 5-2 53 5-4 5_5 What is the company's predetermined overhead rate? How much manufacturing overhead was applied to Job P and Job Q? What is the direct labour hourly wage rate? If Job P includes 20 units, what is its unit product cost? What is the total amount of manufacturing cost assigned to Job Q as of the end of March (including applied overhead)? Assume the ending raw materials inventory is $1,000 and the company does not use any indirect materials. Prepare the journal entries to record raw materials purchases and the issuance of direct materials for use in production. Assume that the company does not use any indirect labour. Prepare the journal entry to record the direct labour costs added to production. Prepare the journal entry to apply manufacturing overhead costs to production. Assume the ending raw materials inventory is $1,000 and the company does not use any indirect materials. Prepare a schedule of cost of goods manufactured. Prepare the journal entry to transfer costs from Work in Process to Finished Goods. Prepare a completed Work in Process T-account including the beginning and ending balances and all 5-6 5-7 5-8 5-9 5-10 FOUNDATIONAL EXERCISES connect [LO2 , L03Q, L04Q, L050, L06 , L07@] 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 Page 171 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): $10,000 Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per direct labour-hour $ 1.00 Estimated total direct labour-hours to be worked 2,000 Total actual manufacturing overhead costs incurred $12,500 Job P Job Q Direct materials $13 non $8.non 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): Page 171 Estimated total fixed manufacturing overhead $10,000 Estimated variable manufacturing overhead per direct labour-hour $ 1.00 Estimated total direct labour-hours to be worked 2,000 Total actual manufacturing overhead costs incurred $12,500 Job P Job Q. Direct materials $13,000 $8,000 Direct labour $21,000 $7,500 1,400 500 Actual direct labour-hours worked

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