RESULTS FOR THE REMAINDER OF THE YEAR

1. During February – December 31, ALC Mountain Dew Lamp workers, requisitioned out 800 Mountain Dew Cans and 160 pieces of paper. Give the journal entry to describe this transaction.
2. During February – December 31, ALC Coca-Cola Lamp workers requisitioned out 600 Coca-Cola cans and 300 pieces of paper. Give the journal entry.
3. During February – December 31, ALC paid CASH the following to its workers:

Mountain Dew Lamp workers for direct labor (800 dlh * $10/dlh) $8,000

Coca-Cola Lamp workers (240 dlh * $25/dlh) $6,000

4. Give the journal entry to APPLY overhead from February – December 31.
5. The Mountain Dew Lamp workers started and completed all 800 Mountain Dew Lamps from February – December 31. The 800 Mountain Dew Lamps were transferred to finished goods. Give the journal entry to describe this transaction. Once again, create a job cost sheet for these 800 mountain Dew lamps.
6. Coca-cola Lamp workers started and completed all 600 Coca-Cola Lamps from February – December 31. The 600 Coca-cola Lamps were transferred to finished goods. Give the journal entry to describe this transaction. Once again, create a job cost sheet for these 600 Coca-cola lamps.
7. During February – December 31, ALC made 11 monthly depreciation journal entries totaling $1,100 for its lamp-making equipment. Give the journal entry.
8. During February – December 31, ALC made 11 CASH payments for rent totaling $3,300. Give the journal entry.
9. During February – December 31, ALC made 11 CASH payments for utilities totaling $1,200. These utilities pertain to the manufacturing plant. Please give the journal entry.
10. During February – December 31, ALC sold 500 Mountain Dew Lamps for $50/lamp (or $25,000 total) in CASH. Give the journal entry to describe this transaction.
11. During February – December 31, ALC sold 500 Coca-Cola Lamps for $100/lamp (or $50,000) in CASH. Give the journal entry to describe this transaction.
12. During the year, ALC paid CASH for the following PERIOD COSTS:

Salaries at corporate headquarters $20,000

Rent on corporate headquarters $20,000

13. Create your MOH clearing t-account. Here are some hints:
    1. Remember, the MOH clearing account will have a zero beginning balance.
    2. Your MOH clearing account will have ACTUAL January MOH on the debit side and APPLIED January MOH on the credit side. It will also have ACTUAL February – December 31 MOH on the debit side and APPLIED February – December 31 MOH on the credit side.

Is MOH OVER or UNDER-applied at 12/31? IF so, indicate by how much.

14. Please make the appropriate journal entry to close out any over/under-applied MOH to COGS at 12/31.
15. Using your prior journal entries create a 5-line income statement for 2020 (I DO NOT NEED A BALANCE SHEET). Your 5-line income statement should look like this: