Please help with questions 5 - 9. Part 1: Relates to Module 18 and I have support videos in the Module 18 Resources in the applicable weekly folder.
The scenario to this part is below and the requirements follow where you will answer the questions pertaining to this part.
Glass Company makes glass orders based on the customer specifications, so the company uses job costing to track costs.
1. The company uses direct labor hours as the cost driver for manufacturing overhead application.
The company estimated the following manufacturing overhead costs for the year:	$340,000
The company estimated the following usage of direct-labor hours for the year:	170,000
2. Beginning Work-in-process, March 1 (Job 55)	$21,000
3. Beginning Finished Goods, March 1 (Job 57)	$88,000
2. Labor Information for March:
	Direct-labor hours:
		Job 55	5,000
		Job 58	6,400
		Job 59	2,600
	Labor costs in factory:
		Direct-labor wages	$280,000
		Indirect-labor wages	$20,000
3. Material Information for March:
		Raw Materials, Inventory, March 1	$8,000
		Purchase or raw material	$159,000
	Direct materials requisitioned:
		Job 55	$55,000
		Job 58	$72,000
		Job 59	$18,000
4. Other costs incurred in March:
	Factory Utilities	$1,800
	Sales offices Utilities	$1,100
	Administrative offices Utilities	$1,900
	Factory equipment repair and maintenance costs	$1,700
	Depreciation on factory equipment	$3,000
	Manufacturing supplies purchased and used	$2,000
5. During March the following jobs were completed :
	Job 55
	Job 58
6. During March the following jobs were sold for the following amounts:
	Job 55		$215,000
	Job 57		$100,000
Required:	You need to use cell references to provide answers and calculations. There are 9 questions in Part 1.
	1. Develop the predetermined overhead rate.		2.00
	Pre determine Overhad rate = Estimated Manufacturing overhead rate/Direct labor hours = $340,000/$170,000
	2. Complete the job cost sheets provided below for the month of March:
			Job 55	Job 58	Job 59
	Beginning Balance	$21,000	0	0
	Current costs:
	Direct materials	$55,000	$72,000	18,000
	Direct Labor @$20	$100,000	128,000	52,000
	Applied overhead @ 2.0	$10,000	$12,800	$5,200
	Total		$186,000	$212,800	$75,200
	3. Determine the ending Work-In-Process Inventory at the end of March and provide the Job number of the job(s) still in Work-in-Process at the end of March and the determine total cost of ending work in process for March.
		(Job 58: $72,000(DM) + $100,000(DL) + $10,000(AO) = $182,000) + (Job 59: $18,000(DM) + $52,000(DL) + $5,200 (AO) = $75,200)
		Total Ending work-in-Process Inventory $257,200
	4. Determine the ending Finished Goods for March and provide the Job number(s) of the job(s) in Finished Goods at the end of March and determine the total cost of ending finished goods for March.
		The cost of Job 55 (from question 2) is the ending Finished Goods inventory: $186,000
	5. Determine the Cost of Goods Sold for March and provide the Job number of the Job(s) in Cost of Goods Sold for March and determine the total cost of goods sold for March.
	6. Prepare a statement of cost of goods manufactured for March below. Use Manufacturing Overhead applied in your statement. You need to prepare in good form. Please see Exhibit 18.6.
			Glass Company
			Statement of Cost of Goods Manufactured
			For Month ending March 31, 20XX
	Current manufacturing costs:
	Cost of material placed in production
	Raw materials, 3/1/XX
	Purchases
	Total available
	Raw materials, 3/31/XX
	Direct Labor
	Manufacturing overhead Applied
	Work-in-process March 1, 20XX
	Total costs in process
	Work-in-process March 31, 20XX
	Cost of goods manufactured
	7. Prepare an Income Statement for March 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.
	You need to prepare in good form. Please see Exhibit 18.6, but you do not have to provide a detailed COGS section, since you know COGS relates to the Job(s) sold at cost and should agree with your analysis in #5 above.
			Glass Company
			Income Statement
			For Month ending March 31, 20XX
	Sales
	Cost of goods sold
	Gross Profit
	Selling and Administrative expenses
	Net income
	8. Determine the dollar amount and the underapplied or overapplied manufacturing for March. Provide your calculations.
	9. Prepare a Pie chart below showing the three product costs that were added to the job cost sheets in March.