\begin{tabular}{|l|l|l|l|} \hline Required 1 & Required 2 & Required 3 & Required 4 \\ \hline \end{tabular} Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant items from your journal entries to these T-accounts. \begin{tabular}{|l|l|l|l|l|l|l|} \hline \multicolumn{2}{|c|}{ Manufacturing Overhead } & \multicolumn{2}{c|}{ Dork in Process } \\ \hline Debit & \multicolumn{2}{c|}{ Credit } & \multicolumn{2}{c|}{ Credit } \\ \hline Beginning Balance & & & & & \\ \hline \end{tabular} Journal entry worksheet Manufacturing overhead cost was applied to production on the basis of 40,590 machine-hours actually worked during the month. Note: Enter debits before credits. Journal entry worksheet 3456 Raw materials purchased on account, $320,000. Note: Enter debits before credits. Journal entry worksheet Other manufacturing overhead costs incurred on account, $84,100. Nate: Enter debits before credits. If 10,300 of the custom-made machined parts are shipped to the customer in February, how much of this job's cost will be included in cost of goods sold for February? (Round your intermediate calculations to 2 decimal places and final answer to the nearest whole dollar amount.) Journal entry worksheet Record the entry to transfer from WIP to Finished goods. Nate: Enter debits befare cred ts. Journal entry worksheet 1 56 Labor cost accrued in the factory, $150,000 (one-third direct labor and twothirds indirect labor). Nate: Enter debits before credits. Exerclse 3.10 (Algo) Applylng Overhead; Journal Entrles; T-accounts [LO3-1, LO3-2] Dillon Products manufactures varlous machined parts to customer speclifications. The company uses a job-order costing system and applies overhead cost to jobs on the basis of machine-hours. At the beginning of the year, the company used a cost formula to estimate that it would Incur $4,294,000 in manufacturing overhead cost at an activity level of 565,000 machine-hours. The company spent the entire month of January working on a large order for 12,400 custom-made machined parts. The company had no work In process at the beginning of January. Cost data relating to January follow. a. Raw materlals purchased on account, $320,000. b. Raw materlals used in production, $255,000 (80\% direct materlals and 20% Indirect materlals). c. Labor cost accrued In the factory. $150,000 (one-third direct labor and two-thirds indirect labor). d. Depreclation recorded on factory equipment, $62,500. e. Other manufacturing overhead costs Incurred on account, $84,100. f. Manufacturing overhead cost was applied to production on the basis of 40,590 machine-hours actually worked during the month. g. The completed job for 12,400 custom-made machined parts was moved into the finished goods warehouse on January 31 to awalt delivery to the customer. (In computing the dollar amount for this entry, remember that the cost of a completed job consists of direct. materlals, direct labor, and applied overhead.) Required: 1. Prepare Journal entrles to record items (a) through (f) above [Ignore Item (g) for the moment]. 2. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant Items from your journal entrles to these Taccounts. 3. Prepare a journal entry for Item (g) above. 4. If 10,300 of the custom-made machined parts are shipped to the customer in February, how much of this job's cost will be Included in cost of goods sold for February? Journal entry worksheet 456 Raw materials used in production, $255,000 ( 80% direct materials and 20% indirect materials). Note: Enter debits before credits. Journal entry worksheet