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3 Problem 5-22 T-Accounts; Overhead Rates: Journal Entries (LO3, LO4, LOS, LOT) Kenworth Company uses a job order costing system. Only three jobs Job 105, Job 106 and Job 107-were worked on during November and December Job 105 was completed on December 10, the other two jobs were still production on December the end of the company's operating year Data from the job cost sheets of the three jobs follow 20 ports A Tovember costs Incurrean Direct materials Direct labe Manufacturing overhead Deceber cast incurred Directorials Direct labo Manufacturing verhead Joh 107 5131 $15.00 $9,00 522,150 $13,500 $ 9,200 $ 25,00 $5.500 7.000 12.000 The following additional information is available a. Manufacturing overhead is applied to jobs on the basis of direct labour cost b. Balances in the inventory accounts at November 30 were as follows $40.000 Raw Hits work in Process Finished Goode 395,000 Required: 1. Prepare T-accounts for Raw Materials. Work in Process Finished Goods and Manufacturing Overhead Enter the November inventory balances given above in the case of Work in Process compute the November 30 balance and enter into the Work Process T-account 3 Required: 1. Prepare accounts for Raw Materials. Work in Process. Finished Goods, and Manufacturing Overhead Enter the November Inventory balances given above in the case of Work in Process, compute the November 30 balance and enter it into the Work in Process T account Haw Malas Work in Process 20 De Bog Bol Beglia End Ela co AR End Pent Finished Goods Manufacturing Overhead Begal Beg Bail End Hal End. Accounts Payable Salaries & Wages Payable E B Beg Bal End Bal End Bal 3 b. Prepare an entry to record the incurrence of labour cost and post the entry to appropriate Taccounts. In the case of checabou cost, it is not necessary to make a separate entry for each job) Indirect labour cost totaled $10,000 for December. Of no antis required for a transaction/event, select "No journal entry required in the first account field.) View transaction list 20 Dit Journal entry worksheet Record the incurrence of our cost and the labour cost to $10,000 Noord Event General Journal Dehnt Credit Clear entry Record entry View generala 3 c. Prepare an entry to record the incurrence of $19.250 in various actual manufacturing overhead costs for December credit Accounts Payable). Post this entry to the appropriate accounts of no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list 20 points Journal entry worksheet Print Record the entry for actual manufacturing overhead costs for December Note Enter debts before credits General Journal Debit Credit Event 1 Clear entry View general Journal Record entry 3 3-8. What apparent predetermined overhead rate does the company is to assign overhead cost to jobs 20 3-b. Prepare a journal entry to record the application of overhead cost to jobs for December is not necessay to make a separate entry for each job. Post this entry to the appropriate Taccounts. Of no entry is required for transaction/event, select "No journal entry required in the first account field) View transaction Journal entry worksheet Record the entry to record the potication of over to jobs for December be Debit General Journal Cret Event View General Clear Record entry 3 4. As stated earlier, Job 105 was completed during Decembet. Prepare a journal entry to show the transfer of this job off the production line and into the finished goods warehouse. Post the entry to the appropriate accounts. If no anuy is required for a transaction/event, select "No journal entry required in the first account field.) View transaction lit 20 points Journal entry worksheet eBook A AR Print Record the entry to show the transfer of work in process to finished goods. Note: Enter debut before credits General Journal Debit Credit Event 1 Record entry Clear entry View general Journal 5. Determine the balance at December 31 in the Work in Process Inventory account How much of this balance consists of costs charged to Job 106? Job 107? Job 106 Job 107 Total 4 Direct materials Direct labour Manufacturing overhead Total cost

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