Ki Technology Co. manufactures DVDs for computer software and entertainment companies. Ki uses job order costing. On April 2, Ki began production of 6,000 DVDs, Job 423, for Paradigm Pictures for $1.20 sales price per DVD. Ki promised to deliver the DVDs to Paradigm Pictures by April 5. Ki incurred the follwoing direct costs

iconia Madditional information i Requirements 1. Prepare a job cost record for Job 423. Calculate the predetermined overhead allocation rate (round to two decimal places), then allocate manufacturing overhead to the job 2. Journalize in summary form the requisition of direct materials and the assignment of direct labor and the allocation of manufacturing overhead to Job 423. Wages are not yet paid. 3. Journalize completion of the job and the sale of the 6,000 DVDs on account. Print Done Data Table K - Xir Date Labor Time Record No. 4/02 655 Description Amount 10 hours @ $16 per hour $ 160 20 hours @ $15 per hour 300 al 4/03 656 ver Materials Requisition No. Date Amount 4/02 63 $ 341 Description 31 lbs polycarbonate plastic @ $11 per lb. 25 lbs, acrylic plastic @ $29 per lb. 3 lbs. refined aluminum @ $45 per lb. 4/02 64 725 4/03 74 135 Print Done More Info - Ki Technology allocates manufacturing overhead to jobs based on the relation between estimated overhead of $574,000 and estimated direct labor costs of $410,000. Job 423 was completed and shipped on April 3. Print Done