I just need help on step 8 these last three to be exact. Check my other work just in case if I have an error , I provided all the information you need just in case if you need it,

What is the total variable cost incurred for Job #1(assume that all selling and administrative cost and all manufacturing overhead costs are fixed.)?

What is the contribution margin for Job #1 (assume that all selling and administrative cost and all manufacturing overhead costs are fixed.)?

What would be the actual (not applied) total fixed manufacturing overhead cost incurred for the company for the month if the order in Job #1 is for five tables instead of one table assuming this cost is with in the relevant range?

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 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 using Job #1 Cost Sheet and Job #2 Cost Sheet. Step 1 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 To Table Le Drawer S2,300.00 $800.00 $430.00 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 The estimated manufacturing overhead cost for the month is a. Factory supervisor salary per month b. Rent for the factory per month c. Depreciation of factory equipment per month $4,000.00 $800.00 $600.00 $5,400.00 Total Estimated manufacturing overhead What is the predetermined manufacturing overhead rate? 450 Step 2 Step 3 The first order you received was to manufacture a table using a table top and four legs. This is your Job #1 The customer that has ordered Job #2, wants a table that is the same as Job #1, but wants to also add a drawer to the table The following is a list of transactions that need to be recorded for the company for activity in the month of December. Record those in the "General Journal" tab of the excel file using the proper 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 1-Dec Raw Materials purchased on account, $23,000 All Raw Materials needed for Job #1 were requisitioned from the material storage for use during the month. Assume all materials are 5-Dec direct. (After you journalize this entry please enter the information into Job #1 Cost Sheet) The following employee costs were incurred but not paid during the month: There are three assembly employees that spend 2 hours each, $25 per hour to make the table for Job #1. (After you journalize this 10-Dec entry please enter the information into Job #1 Cost Sheet) Salary for supervisor of the factory $4,500 Administrative Salary $2,000 All Raw Materials needed for Job #2 were requisitioned from the material storage for use during the month. Assume all materials are 15-Dec direct. (After you journalize this entry please enter the information into Job #2 Cost Sheet) 16-Dec Rent for the month of December for the factory building incurred but not paid $800 17-Dec Advertising costs incurred but not paid for the month was $1,400. Depreciation for the month of December was recorded on equipment was $750 ($150 for equipment used in the factory and the remainder for equipment used in selling and administrative activities) Manufacturing overhead cost was applied based on direct abor hours to ob #1 based on the POHR determined on the Job Cost Sheet". (After you journalize this entry please enter the information into Job #1 Cost Sheet) 22Dec 26-Dec Job #1 was completed and transferred to Finished Goods during the month. The completed table rom Job #1 was sold on account to the customer for S28.000 during the month. for the cost of the table that was sold using the cost from the job cost sheet.) Hint Make sure to account 28 Dec Direct labor cost incurred but not paid for three employees to start manufacturing Job #2. The employees only worked one hour each, three hours total, $25 per hour during the month and they did not complete their work on the job. (After you journalize this entry please enter the information into Job #2 Cost Sheet) 31-Dec Manufacturing overhead cost was applied based on direct labor ours to Job #2 based onthe POHR Only three direct!abor hours were worked on Job #2 during the month. (After you journalize this entry please enter the information into Job #2 Cost Sheet) 31-Dec Any underapplied or overapplied overhead for the month was closed out to Cost of Goods Sold Maner lorani Post the journal entries that you recorded on the "General Journal" tab to the "T-accounts" tab. This is the company's first month of business, so there will not be any beginning balances. Compute the balance for each T-account after all of the entries have been posted Step 5 Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold on the "Schedule of COGM and COGS" tab for Job #1 and Job #2 that were worked on during the month by the company. Make sure to follow the format noted in your book (pg. 87). (Hint: This is the company's first month of operations and therefore the beginning balances will be zero.) Step 6 Step 7 Prepare an Income Statement for the month using the Traditional Format on the "Income Statement" tab Step 8 Answer the additional questions below Check Figure: Cost of Goods Manufactured- $8,350, Net operating income $14,250 11570 7355 What is the ending balance for raw materials? What is the ending balance for work in process? What is the ending balance for finished goods? What is the actual manufacturing overhead cost incurred during December before adjustment? What is the total applied manufacturing overhead cost during December before adjustment? What is the unadjusted cost of goods sold? Was the manufacturing overhead for the month of December overapplied/underapplied? What is the amount of Manufacturing overhead overapplied/underapplied? What is the adjusted cost of goods sold? What is gross margin? What is the total prime cost for Job#1? What is the total conversion cost for job #1? What is the total product cost for job#1? What was the period cost incurred for the month of December? 450 4050 8350 nderapplied 1400 9750 65 5650 8350 8350 2600 What is the total variable cost incurred for Job #1 (assume that all selling and administrative cost and all manufacturing overhead costs are fixed.)? What is the contribution margin for Job #1 (assume that all selling and administrative cost and all manufacturing overhead costs are fixed.)? What would be the actual (not applied) total fixed manufacturing overhead cost incurred for the company for the month if the order in Job #1 is for five tables instead of one table assuming this cost is with in the relevant range? ob Cost Sheet Job Number #1 Date Initiated Item Date completed Direct Matarials Direct Labor Manufacturing Overhead Amount Hours Rate Amount Hours Rate Amount 5,500 25 150 $450.00 $2,700.00 Cost Summar Direct Materials Direct Labor Manufacturing Overhead Total Product Cost Unit Product Cost $5,500.00 150.00 $2,700.00 $8,350.00 8,350.00 Job Cost Sheet Job Number #2 Date Initiated Item Date completed Direct Matarials Direct Labor Manufacturing Overhead Amount Hours Rate Amount Hours Rate Amount 5,930 25 75 $450.00 $1,350.00 Cost Summary Direct Materials Direct Labor Manufacturing Overhead Total Product Cost Unit Product Cost $5,930.00 75.00 S 1,350.00 $7,355.00 $7,355.00 General Journal Date Description Debit $ 23,000 Credit 01-Dec Raw Materials Accounts Payable 23,000 05-Dec Work In Process S 5,500 Raw Materials 5,500 (2300 x 1)(800 x4) $150 4,500 $ 2,000 10-Dec Work In Process (3 x 2 x 25) Manufacturing Overhead alaries and Wages Expense Salaries and Wages Payable S6,650 15-Dec Work In Process $ 5,930 $ 5,930 Raw Materials (2300 x 1) + (800x x4) + 430 16-Dec Manufacturing Overhead 800 Accounts Payable $ 800 17-Dec Advertising expenses $ 1,400 Accounts Payable $ 1,400 $150 $600 20-Dec Manufacturing overhead Depreciation expense Accumulated depreciation $ 750 22-Dec Work in process $2,700 $ 2,700 Manufacturing overhead (3*2 *$450) (5400/12-450) 26-Dec Finished Goods S 8,350 Work in process $ 8,350 28-Dec Accounts Receivables S 28,000 Sales S 28,000 Cost of goods sold Finished Goods S 8,350 $ 8,350 31-Dec Work in process $ 75 $75 Salaries and Wages Payable (3 x 25) 31-Dec Work In Process 1,350 Manufacturing Overhead (3 x 5400/12) $1,350 31-Dec Cost of Goods Sold S1,400 S 1,400 Manufacturing overhead (4500+800+150)-(450*(6+3))