Question: Can you also explain it You work for Thunderduck Custom Tables Inc. This is the first month of operations. The company designs and manufactures specialty
Can you also explain it You work for Thunderduck Custom Tables Inc. This is the first month of operations. The company designs and manufactures specialty tables. Each table is specially customized for the customer. This month, you have been asked to Step develop and manufacture two new tables for customers. You will design and build the tables. This is a no nail, no screw and no glue manufacturing (no indirect materials used). You will be keeping track of the costs incurred to manufacture the tables. The cost of the direct materials that can be used to manufacture the table are as follows. These cost are on a per unit basis. Table Top Table Leg Drawer 2,200.00 S 750.00 S 420.00 Assume a S20 per hour wage rate to the assembly employees. The company uses a job order costing system and applies manufacturing overhead to jobs based on direct labor hours. The company estimates that there will be 12 direct labor hours worked during the month. overhead cost for the month is: The estimated a. Factory supervisor salary per month b. Rent for the factory per month c. Depreciation of factory equipment per month S 3,500.00 S 700.00 Total Estimated manufacturing overhead 4,800.00 What is the predetermined manufacturing overhead rate? The first order you received was to manufacture a table using a table top and four legs. This is your Job 1, Go to the .Job # 1 Cost Sheet' tab. There are three assembly employees that spend 2 hours each to m ake the table. Here, you will calculate the cost of making the table by calculating the direct material, direct labor and applied overhead cost. Complete the job cost sheet by calculating the direct material, direct labor and manufacturing overhead applied that would be incurred for job #1 Step 2 The customer that has ordered Job #2, wants a table that is the same as Job table. There are three assembly employees that spend 3 hours each to make the table. calculate the cost of making the table by calculating the direct material, direct labor and applied overhead cost. 1, but wants to also add a drawer to the Step 3 On the "Job 2 Cost Sheet" tab you Here you will find a list of transactions that must be recorded for the company for the month of December. On the "General Journal tab, you will record all of these entries in proper journal entry format. The following is a list of transactions that need to be recorded for the company for activity in the month of December. Record these in the 'General Journal tab using the proper journal entry format. Please use the following accounts: Accounts Receivables, Raw materials, Work in process Finished goods, Accumulated depreciation, Accounts payable, Salaries and wages payable, Sales revenue, Manufacturing overhead, Cost of goods sold, Salaries and wages expense, Advertising expenses, and Depreciation expense. Step 4
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
