Question: Need help with D, E B. Record journal entries given the following information for August. Material Job Requisitions Time Tickets Mercedes $1,600 $1,200 Corvette $1,200

B. Record journal entries given the following information for August. Material Job Requisitions Time Tickets Mercedes $1,600 $1,200 Corvette $1,200 $2,000 Murcielago $4,000 $3,200 Land Rover $2.800 $1.600 $9,600 $8,000 General use* $400 $800 $10,000 $8,800 *Idle time, cleaning & maintenance, indirect materials, etc.) Date Account Dr. Cr. 31-Aug Work in process inventory 9.600 Manufacturing overhead 400 Raw materials inventory 10,000 (Raw materials issued into production) 31-Aug Work in process inventory 8.000 Manufacturing overhead 800 Wages payable 8.800 (Assign labor costs) C. Estimated manufacturing overhead for the year was $100000. Overhead is applied based on direct labor dollars (estimated at $80000 for the year). Use this information to calculate predetermined overhead rate and apply manufacturing overhead. 31-Aug Work in process inventory 10,000 Manufacturing overhead 10,000 (Apply overhead using PDO) D. Calculate the cost of each job by completing the following table. (Go up to the very top box for Beg. Wip. The rest can be found in the above entries.) Mercedes Corvette Murcielago Land Rover Beg. WIP # X X X # Direct Materials Direct Labor Man. Overhead X X X X Total Cost X X X X E. The Mercedes, Corvette, and Murcielago jobs are completed and sold on account for $11160, $17640, & $16059 respectively. Journalize below. 31-Aug Finished goods inventory Work in process inventory X E. The Mercedes, Corvette, and Murcielago jobs are completed and sold on account for $11160, $17640, & $16059 respectively. Journalize below. 31-Aug Finished goods inventory X Work in process inventory X (Complete Mercedes, Corvette, Murcielago jobs) 31-Aug Cost of goods sold Finished goods inventory Accounts receivable Sales (Sold Mercedes, Corvette & Murcielago jobs on account)
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