& @j m Question 3 - Week 4 - Chapter 4 Homework - Connect [l X ] Other favorites Q i Week 4 - Chapter 4 Homework 0 Saved Help Save & Exit Submit - m [cmme= ] Q a W + Dream Makers is a small manufacturer of gold and platinum jewelry. It uses a job costing system that applies overhead on the basis of direct labor hours. Budgeted factory overhead for the year was $607,500, and management budgeted 40,500 direct labor-hours. The ' company had no Materials, Work-in-Process, or Finished Goods Inventory at the beginning of April. These transactions were recorded 3 during April: = paolnts a. April insurance cost for the manufacturing property and equipment was $2,500. The premium had been paid in January. & b. Recorded $1,515 depreciation on an administrative asset. eBook c. Purchased 21 pounds of high-grade polishing materials at $16 per pound (indirect materials). o d. Paid factory utility bill, $7.070, in cash. Frint e. Incurred 4,000 hours and paid payroll costs of $160,000. Of this amount, 1,000 hours and $20,000 were indirect labor costs. + References f. Incurred and paid other factory overhead costs, $6.690. g. Purchased $31,500 of materials. Direct materials included unpolished semiprecious stones and gold. Indirect materials included supplies and polishing materials. . Requisitioned $25,500 of direct materials and $3,000 of indirect materials from Materials Inventory. . Incurred miscellaneous selling and administrative expenses, $7620 . Incurred $4.975 depreciation on manufacturing equipment for April. _Paid advertising expenses in cash, $3.700. . Applied factory cverhead to production on the basis of direct labor hours. . Completed goods costing $71,000 during the month. . Made sales on account in April, $74.350. The Cost of Goods Sold was $59,620. 53 me - T Complete this question by entering your answers in the tabs below. v % & M Question 3 - Week 4 - Chapter 4 Homework - Connect X G A https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=08launchUrl=https%253A%252F%252Fconnect... . . a Amazon.com - Onli... B. Booking.com McAfee Security Bookmarks @ Home Suggested Sites W WildTangent Games Imported From IE ) Toshiba > Other favorites Week 4 - Chapter 4 Homework Saved Help Save & Exit Submit M Check my work a 3 complete this question by entering your answers in one taps below. + Req 1 Req 2 Req 3 Req 4 COGM Req 4 COGS Req 5 Req 6 3 points Compute the amount of overapplied or underapplied overhead that should be prorated to Work-in-Process, Finished Goods, and Cost of Goods Sold. Note: Round both the Relative Amount and the Share of overapplied overhead to two decimal places. o eBook Share of Print Balance Relative amount overapplied + overhead References Work-in-Process % Finished Goods Cost of Goods Sold % Total 0 0.00 % $ 0.00 Mc Graw Hill 81 F Mostly cloudy Q Search 8:59 PM 7/24/2024M Question 3 - Week 4 - Chapter 4 Homework - Connect X G A https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=08launchUrl=https%253A%252F%252Fconnect... . . a Amazon.com - Onli... B. Booking.com McAfee Security Bookmarks @ Home Suggested Sites W WildTangent Games Imported From IE ) Toshiba > Other favorites Week 4 - Chapter 4 Homework Saved Help Save & Exit Submit M Check my work a 3 complete wuIs question by entering your answers in one Labs below. + Req 1 Req 2 Req 3 Req 4 COGM Req 4 COGS Req 5 Req 6 3 points Using the results from requirements 4 and 5, prepare the income statement for April. o Dream Makers eBook Income Statement Print For the Month Ended April 30 + Sales revenue $ 74.350 References Cost of goods sold Gross margin Selling and administrative Advertising expense Total selling & administrative expenses Mc Graw Hill 81 F Mostly cloudy Q Search T 8:59 PM 7/24/2024