Question: Please help to solve highlighted in yellow. All information above was either given, or i solved it. All information for the task is provided above.



Please help to solve highlighted in yellow. All information above was either given, or i solved it. All information for the task is provided above. Thank you.
Part 1: Information to use in completing is below and the requirements follow where you will answer the questions. Grass Mower Company manufacturers a variety of gasoline-powered mowers for discount hardware and department stores. The company uses a job cost system and treats each customer's order as a separate job. The primary mower components ( motors, chassis, and wheels) are purchased from three different suppliers under long-term contracts that call for the direct delivery of raw materials to the production floor as needed. When a customer's order is received, a raw materials purchase order is electronically placed with suppliers. The purchase order specifies the scheduled date that production is to begin as the delivery date for motors and chassis, the scheduled date production is to be completed is specified as the delivery date for the wheels. As a consequence, there are no raw materials inventories, raw materials are charged directly to Work-in-process upon receipt. Upon completion goods are shipped directly to customers rather than transferred to finished goods inventory. At the beginning of September the company had the following jobs in work-in-process inventories: Job 1 $19,000 Job 2 15,000 Job 3 16,000 Total $50,000 0 During September, the following activities took place: 1. Started jobs 4,5,6, and 7. 2. Ordered and received the following raw materials for specified jobs: Motors Chassis Wheels Total Job 2 $700 $700 Job 3 0 1,100 1,100 Job 4 1,500 2,000 1,600 5,100 Job 5 1,000 4,000 1,000 6,000 Job 6 8,000 3,500 900 12,400 Job 7 7,500 3,800 0 11,300 Total $36,600 3. Incurred September manufacturing payroll Direct Labor Job 1 $500 Job 2 3,100 Job 3 3,000 Job 4 4,000 Job 5 1,500 Job 6 2,500 Job 7 2,000 Total Direct Labor 16,600 Indirect Labor 4,000 4. Incurred additional manufacturing overhead costs for September: Manufacturing supplies purchased and used Depreciation on factory fixed assets Factory utilities 2,000 6,000 4,900 5. Applied manufacturing overhead using a predetermined rate based on predicted annual overhead and predicted annual direct labor cost as follows: Predicted Annual Overhead $185,250 Predicted Annual Direct Labor cost $195,000 6. Completed and shipped jobs 1 and 6. The following is what was charged to these customers. Job 1 28,000 Job 6 26,000 Total 54,000 7. Selling and Administrative costs incurred in September are the following: $3,900 Required: You need to use cell references to provide answers and calculations 1. Develop the predetermined overhead rate. 0.95 2. Complete the job cost sheets provided below: Job 1 Job 4 Job 5 Job 6 Job 7 Job 2 15,000 Job 3 16,000 Beginning Balance Current costs: Direct materials Direct Labor Applied overhead Total $500 $475.00 $19,975 $700 3,100 $2,945.00 $21,745 1,100 5,100 6,000 12,400 11,300 3,000 4,000 1,500 2,500 2,000 $2,850.00 $3,800.00 $1,425.00 $2,375.00 $1,900.00 $22,950 $12,900 $8,925 $17,275 $15,200 3. Determine the ending Work-In-Process Inventory at the end of September and provide the number of the Jobs still in Work-in-Process at the end of September. Job 2 Job 3 Job 4 Job 5 Job 7 Ending Work-in-Process Total Cost $21,745 $22,950 $12,900 $8,925 $15,200 $81,720 Number of Jobs in WIP 4. Determine the cost of Goods Sold for September and provide the number of the Jobs in Cost of Goods Sold for September. Job 1 Job 6 Cost of Goods Sold Total Cost $19,975 $17,275 $37,250 Number of Jobs in COGS 5. Prepare a statement of cost of goods manufactured for September below. Use Manufacturing Overhead applied in your statement. Grass Mower Company Statement of Cost of Goods Manufactured For Month ending September 30, 2019 $36,600 16,600 Current manufacturing costs. Cost of material placed in production Direct Labor Manufacturing overhead Applied Work-in-process September 1, 2019 Total costs in process Work-in-process September 30, 2019 Cost of goods manufactured $68,970 $50,000 $118,970 ($81,720) $37,250 5. Prepare a statement of cost of goods manufactured for September below. Use Manufacturing Overhead applied in your statement. Grass Mower Company Statement of Cost of Goods Manufactured For Month ending September 30, 2019 $36,600 16,600 $15,770.00 Current manufacturing costs: Cost of material placed in production Direct Labor Manufacturing overhead Applied Work-in-process September 1, 2019 Total costs in process Work-in-process September 30, 2019 Cost of goods manufactured $68,970 $50,000 $118,970 ($81,720) $37,250 6. Prepare an Income Statement for September below. The company does not close the over or underapplied overhead until the end of the year, so no adjustment is needed to Cost of Goods Sold. Grass Mower Company Income Statement For Month ending September 30, 2019 $37,250 Sales Cost of goods sold Gross Profit Selling and Administrative expenses Net income S3,900 7. Determine the underapplied or overapplied manufacturing for September. 8. Prepare a pie chart below showing the balance of the jobs that are in work-in-process at the end of September. BALANCE OF THE JOBS IN WORK-IN-PROCESS, SEPTEMBER 30, 2019 $15,200,18% $21,745,27% $8,925, 11% $12,900,16% $22,950,28%
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
