White Technology Co. manufactures DVDs for computer software and entertainment companies. White uses job order costing. On September 2. White began production of 5.200 DVDs. Job 423, for Panorama Pictures for $1.80 sales price per DVD. White promised to deliver the DVDs to Panorama Pictures by September 5. White incurred the following direct costs: (Click the icon to view the costs.) i (Click the icon to view additional information.) Read the requirements. Requirement 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. Begin by determining the total amount of direct materials and direct labor incurred on the job. Next, calculat location rate and apply manufacturing overhead to the job. Lastly, compute the total cost of Job 423 and the cost per DVD. X Data Table Job Cost Record Job No. 423 Customer Name Panorama Date Labor Time Record No. Description Amount Job Description 5,200 DVDs X 9/02 655 10 hours @ $18 per hour $ 180 Date Promised 9-5 Date Started 9-2 Date Completed 9-3 More Info 9/03 656 20 hours @ $15 per hour 300 Direct materials Direct labor Manufacturing overhead allocated Labor Time White Technology allocates manufacturing overhead to jobs based on the relation Materials between estimated overhead of $625,000 and estimated direct labor costs of $500.000. Requisition Date No. Record Job 423 was completed and shipped on September 3. Description Amount Requisition Date Number 31 lbs. polycarbonate plastic @ $11 per lb. S 341 Amount Number 9/02 Amount Date Rate Amount 725 of direct 9/02 25 lbs. acrylic plastic @ $20 per lb. 9/03 74 3 lbs. refined aluminum @ $45 per lb 135 9-2 341 65.5 180 labor cost 9-2 64 725 Overall Cost Summary 135 Print Done 300 Direct materials Direct labor Print Done Manufacturing overhead Allocated Total Job Cost Totals Cost per DVDRequirement 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. (Record debits first, then credits. Exclude explanations from any journal entries.) Start by journalizing the use of direct materials. Date Accounts Debit Credit Sep. 3 Next, journalize the use of direct labor. Date Accounts Debit Credit Sep. 3 Now journalize the allocation of overhead to Job 423. Date Accounts Debit Credit Sep. 3 Requirement 3. Journalize completion of the job and the sale of the 5,200 DVDs on account. (Record debits first, then credits. Exclude explanations from any journal entries.) Begin by preparing the entry to show the completion of the job. Date Accounts Debit Credit Sep. 3 Next, journalize the revenue portion of the sale of Job 423. Date Accounts Debit Credit Sep. 3 Finally, journalize the cost of goods portion of the sale. Date Accounts Debit Credit Sep. 3