Attached is the problem.

Task #5: Other miscellaneous activity includes: a) Paid Utilities on the factory building of $10,000.00 b) Paid Selling and administrative expenses of $5,000.00 c) Paid FICA, FUTA, SUTA, and Federal Income Taxes withheld as of the end of last year. d) Monthly depreciation on plant assets were calculated. On an annual basis, the company writes off 75 (rounded to the nearest dollar): 76 5 percent - Factory buildings 77 20 percent - Machinery and Equipmer 78 20 percent - Office Equipment e) Adjust the balance of the prepaid insurance account, which represents a two-year premium for a fire insurance policy covering the factory building and machinery. It was paid on the last day of the 79 preceding month and became effective on January 1. (Round your journal entry to the nearest dollar.) 80 Task #5 - Record the journal entry for letters a thru e above. 81 82 83 Task #6: Post all above journal entries. Review the balance of the Factory Overhead Account. See Exhibit 4 for detail of that account by department. 84 To better evaluate how well overhead costs were controlled, record a journal entry to empty out the general Overhead Control Account and create 5 new ones (one for each department...e.g. Overhead Control - Cutting). 85Exhibit 4 Factory Overhead - by Department Producing Departments Service Departments Cutting Tooling Assembly Janitorial Maintenance Total Supplies $450.00 $300.00 $280.00 $175.00 $295.00 $1,500.00 Indirect Labor $2,000.00 $2,000.00 $2,000.00 $3,000.00 $5,000.00 $14,000.00 6 Payroll Taxes $1,324.39 $621.65 $4,648.86 $229.50 $1,082.50 $7,906.90 17 Miscellaneous $3,000.00 $2,750.00 $2,500.00 $750.00 $1,000.00 $10,000.00 8 Depreciation $863.00 $1,190.00 $600.00 $180.00 $150.00 $2,983.00 19 Insurance $1,805.00 $892.00 $1,425.00 $125.00 $100.00 $4,347.00 $9,442.39 $7,753.65 $11,453.86 $4,459.50 $7,627.50 $40,736.90 01 check figure 2 square feet 7,530 5,000 10,000 1,000 2,000 03 04 05 06128 Exhibit 2 129 Account: Finished Goods 130 131 Job TG1000 Job RW3000 Total 132 Direct Materials $10,000 $30,000 $40,000 133 Direct Labor $15,000 $37,750 $52,750 134 Factory Overher $4,000 $12,000 $16,000 135 $29,000 $79,750 $108,750 136 137 138 Account: Work in Process 139 140 Job XY200 Job AP5000 Total 141 Direct Materials $9,000 $40,000 $49,000 142 Direct Labor $6,000 $19,200 $25,200 143 Factory Overher $5,400 $24,000 $29,400 144 $20,400 $83,200 $103,600 145168 169 Exhibit 3 170 Actual Machine and Labor hours - by Job and Department 171 172 Cutting Tooling Assembly 173 Machine hours 174 JOB XY200 200 1,400 275 175 JOB AP5000 600 600 100 176 JOB QE3000 500 400 75 177 JOB ME2000 600 300 50 178 Total 1,900 2,700 500 179 180 Direct Labor Hours Total 181 JOB XY200 210 210 182 JOB AP5000 70 100 110 280 183 JOB QE3000 210 130 510 850 184 JOB ME2000 1,100 1100 185 Total 490 230 1720 2440 186 187140 147 148 Account: Materials 149 150 Description Units Unit Cost Total 151 Material A 120 $15.25 $1,830.00 152 Material A 150 $15.35 $2,302.50 153 154 Material B 100 $10.00 $1,000.00 155 Material B 150 $9.95 $1,492.50 156 Material B 200 $9.90 $1,980.00 157 158 Material C 105 $50.00 $5,250.00 159 Material C 125 $52.00 $6,500.00 160 161 Material D 1100 $75.00 $82,500.00 162 163 Material E 800 $15.18 $12,144.00 164 165 $114,999.00 166 Misc Factory Sul $2,001.00 167 $117,000.00Koushirou Incorporated manufactures special made to order construction equipment. It has three production departments (Cutting, Tooling, and Assembly) and two service departments (Janitorial and Maintenance). In any production department, the job in process is wholly completed before the next job is started. The company operates on a calendar year. The company uses job order costing since each job is unique. Job names are assigned using a two letter code for the company combined with the number of units contracted for. Before beginning, notice Exhibit 1 and 2 included in this company information: Exhibit 1 shows a post-closing trial balance as of December 31, 2019 Exhibit 2 shows subsidiary ledgers for the Finished Goods, Work in Process, and Materials accounts. The company uses the FIFO method of Accounting for all inventory. Task #1: The company uses departmental overhead rates. Cutting and Tooling use machine hours. Assembly uses direct labor hours. In December of the year just completed, the company estimated the new year's overhead related activity as follows: Cutting Tooling Assembly Total Machine hours 30,000 25,000 7,500 62,500 Direct Labor Hours 3,000 4,000 15,000 22,000 Estimated Annual O/H $195,000 $100,000 $150,000 $445,000 Task #1 - calculate the predetermined overhead rates to be used during the year and make note of them. Then continue on to the next task.Task #2: In January of the new year, the company purchased the following Miscellaneous factory supplies and materials: Material Amount Date Factory Supplies $5,000 1-Jan Material A 150 @ $16.9 7-Jan Material B 400 @ $12 12-Jan Material C 150 @ $65 18-Jan Material D 900 @ $72 18-Jan Material E 500 @ $18 25-Jan Task #2 - for simplicity's sake for this fake company, do one journal entry to record the full amount of the purchases. Remember to review your Trial Balance as of Dec 31 for an idea of what account titles you have to use. Assume purchases are paid for in the month following the purchase.100 Exhibit 1 101 Koushirou Incorporated 102 Post-Closing Trial Balance 103 December 31, 2019 104 105 Debit Credit 106 Cash 122,500 107 Accounts Receivable 121,700 108 Finished Goods 108,750 109 Work in Process 103,600 110 Materials 117,000 111 Prepaid Insurance 104,320 112 Factory Building 164,000 113 Accumulated Depr - Factory Building 122,500 114 Machinery and Equipment 138,000 115 Accumulated Depr - Machinery and Equip 116,000 116 Office Equipment 110,500 117 Accumulated Depr - Office Equipment 107,500 118 Accounts Payable 102,500 119 FICA Tax Payable 7,500 FUTA Payable 500 121 SUTA Payable 100 122 Employee Income Tax Payable 10,000 123 Capital Stock 75,000 124 Retained Earnings 548,770 125 1,090,370 1,090,370 126A B D G H Task #3: In January, in addition to $1,500 of Misc Factory Supplies, the following materials were issued to the factory: 5-Jan 10-Jan 15-Jan 20-Jan In Units Job XY200 Job AP5000 Job QE3000 Job ME2000 Material A 25 100 50 Material B 25 100 200 300 Material C 200 50 Material D 30 300 400 300 Material E 300 400 Task #3 - Looking at both the purchases on the prior page and the materials issued above, update the Materials Inventory Worksheet, focusing on one material at a time and paying attention to when the material was purchased and used. Using the summary at the bottom of that worksheet, create one Journal Entry to summarize all materials issued to the factory for the entire month. Remember indirect materials are not WIP. Update the Job Cost Sheets for Materials (round to the nearest cent)54 55 Task #4: An analysis of Time Cards for the employees showed the following hours 56 57 Job XY200 Job AP5000 Job QE3000 Job ME2000 per hr 58 Line Worker #1 210 180 250 200 $15.00 59 Line Worker #2 100 300 400 $25.00 60 Line Worker #3 300 500 $35.00 61 Factory Supervisor (equal time to 3 Producing Departments) 6,000 62 Factory Janitorial Staff 3,000 63 Factory Maintenance Staff 5,000 64 Administrative S 12,000 65 Assume FICA rates are 6.2% + 1.45% = 7.65% and Employee Income Tax Withholding is at 10% of wages. Assume FUTA 66 and SUTA rates of 4% and 1% respectively on the first $10,000 of wages. 67 Task #4 - Record the Journal Entries for wages. Then, record any payroll taxes due. 68 Update the Job Cost Sheets for labor (round to the nearest cent) 69 7086 Task #7: Calculate the applied overhead for each job. See exhibit 3 for breakdown of machine and labor hours by job. Record the journal entry. Update the Job Cost Sheets. 87 Task #8: Overhead expenses of the support departments are allocated to the producing departments using the sequential method, with the higher dollar support department being allocated first. Janitorial services are allocated based on square footage of each department, and Maintenance services are split equally. Calculate the allocation and record the journal entry. Round all dollars allocated to the nearest cent and all percentages to 4 decimal places. 88 89 Task #9: Jobs TG1000, RW3000, and XY200 were delivered to customers during the month, sales terms n/15. Sale 90 price is 30% markup over cost. Job AP5000 was finished during the month. 91 92 Task #10: $250,000 in cash is received from customers on account during the month. 93 94 Task #11: $120,000 in various Accounts Payables were paid during the month. 95 Task #12: Create a Balance Sheet, Income Statement, and Statement of Goods Manufactured, and Cost of Goods Sold. 96 For purposes of these financial statements, create a reclassing journal entry to roll all the various Overhead Control accounts into one Over/Under Applied Overhead account that will appear on the Balance Sheet (Other Asset if it is a Debit, Other Liability if it is a Credit). Note that if this was the final Balance Sheet for the year we would actually close the account and not show it at all. 97 98