ANSWER QUESTIONS 6,7,8, & 9????

Accounting 311 In Class Assignment Product Costing & Overhead Data and other information is provided below for the Keto Division of Lei Corp. pertaining to operations in May 2018. Keto worked on and completed production runs of three products (X1, X2, and X3) that month. Each product is accounted for as a "job with multiple units of each product manufactured. Manufacturing occurs in two departments identified as Dept. 1 and Dept. 2. Overhead is applied to jobs using predetermined overhead rates based on labor hours in Dept. 1 and machine hours in Dept 2. To keep things relatively simple you can assume that the beginning and ending inventories of work in process are zero. Also let the beginning inventory of finished goods equal zero. The objective is to trace the costs of production through inventory and the income statement. # Keto data for May ## Output ### output units produced job_1 10,000 units: product X1 job 2 6,000 units: product X2 job 3 2,000 units: product X3 ### Units sold & sales price X1 9,000 units $30 X2 6,000 units $105 X3 1,800 units $255 ### operating expenses Total op. exp. $650,000 ## input costs ###Overhead Dept. 1 estimated oh $320,000 estimated_ lbr hrs 8,000 hrs Actual oh $325,000 ###Overhead Dept. 2 estimated oh $180,000 estimated mach hrs 900 hrs Actual oh $165,000 ## input costs ### direct costs per unit of input material _A_cost_lb $6.50 / lbs material B_cost oz $145.00 / oz labor-rate-per-hr $25.00 / hrs ### actual labor hours job-1: 1,500 hrs job 2 2,500 hrs job 3 3,500 hrs total-lbr-hrs => 7,500 hrs ### actual machine hours job_1 500 hrs job_2 300 hrs job_3 200 hrs total1,000 hrs ### actual material A used job-1 5,000 lbs job 2-7,000 lbs job 3 4,000 lbs total 16,000 lb ### actual material B used job 1 30 oz job 2 60 oz job 3 10 oz total >100 oz Assume direct labor costs are added only in Dept. 1 and the machine hours given in the problem refer to machine hours used in Dept. 2. ## Cost Assignment ### WIP (Keto uses predetermined overhead rates) oh rate perlbr_hr QUESTION 1 oh rate per_mach hr QUESTION 2 Job 1 costs assigned (XI) before adjustments TOTAL COST Job 2 costs assigned (X2) before adjustments TOTAL COST Job 3 costs assigned (X3) before adjustments TOTAL COST QUESTION 3 QUESTION 4 QUESTION 5 ### At the end of the month Keto uses an adjusted overhead rate to assign over or under applied manufacturing overhead to each job. The adjusted overhead rates are based on actual labor hours in Dept. 1 and actual machine hours in Dept. 2. The unadjusted balance in Dept. 1 MOH is: (enter a positive number)? QUESTION 6 If the balance is a debit enter 1, if it is a credit enter 0: QUESTION 7 The unadjusted balance in Dept. 2 MOH is: (enter a positive number)? QUESTION 8 If the balance is a debit enter 1, if it is a credit enter 0: QUESTION 9 Accounting 311 In Class Assignment Product Costing & Overhead Data and other information is provided below for the Keto Division of Lei Corp. pertaining to operations in May 2018. Keto worked on and completed production runs of three products (X1, X2, and X3) that month. Each product is accounted for as a "job with multiple units of each product manufactured. Manufacturing occurs in two departments identified as Dept. 1 and Dept. 2. Overhead is applied to jobs using predetermined overhead rates based on labor hours in Dept. 1 and machine hours in Dept 2. To keep things relatively simple you can assume that the beginning and ending inventories of work in process are zero. Also let the beginning inventory of finished goods equal zero. The objective is to trace the costs of production through inventory and the income statement. # Keto data for May ## Output ### output units produced job_1 10,000 units: product X1 job 2 6,000 units: product X2 job 3 2,000 units: product X3 ### Units sold & sales price X1 9,000 units $30 X2 6,000 units $105 X3 1,800 units $255 ### operating expenses Total op. exp. $650,000 ## input costs ###Overhead Dept. 1 estimated oh $320,000 estimated_ lbr hrs 8,000 hrs Actual oh $325,000 ###Overhead Dept. 2 estimated oh $180,000 estimated mach hrs 900 hrs Actual oh $165,000 ## input costs ### direct costs per unit of input material _A_cost_lb $6.50 / lbs material B_cost oz $145.00 / oz labor-rate-per-hr $25.00 / hrs ### actual labor hours job-1: 1,500 hrs job 2 2,500 hrs job 3 3,500 hrs total-lbr-hrs => 7,500 hrs ### actual machine hours job_1 500 hrs job_2 300 hrs job_3 200 hrs total1,000 hrs ### actual material A used job-1 5,000 lbs job 2-7,000 lbs job 3 4,000 lbs total 16,000 lb ### actual material B used job 1 30 oz job 2 60 oz job 3 10 oz total >100 oz Assume direct labor costs are added only in Dept. 1 and the machine hours given in the problem refer to machine hours used in Dept. 2. ## Cost Assignment ### WIP (Keto uses predetermined overhead rates) oh rate perlbr_hr QUESTION 1 oh rate per_mach hr QUESTION 2 Job 1 costs assigned (XI) before adjustments TOTAL COST Job 2 costs assigned (X2) before adjustments TOTAL COST Job 3 costs assigned (X3) before adjustments TOTAL COST QUESTION 3 QUESTION 4 QUESTION 5 ### At the end of the month Keto uses an adjusted overhead rate to assign over or under applied manufacturing overhead to each job. The adjusted overhead rates are based on actual labor hours in Dept. 1 and actual machine hours in Dept. 2. The unadjusted balance in Dept. 1 MOH is: (enter a positive number)? QUESTION 6 If the balance is a debit enter 1, if it is a credit enter 0: QUESTION 7 The unadjusted balance in Dept. 2 MOH is: (enter a positive number)? QUESTION 8 If the balance is a debit enter 1, if it is a credit enter 0: QUESTION 9