Question

can someone please shownme the work i wamt tonleanr how to do it correctly

Check my work 5 Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the upcoming year, the company estimated its total manufacturing overhead cost at $214,200 and total machine hours at 63,000. During the first month of operations, the company worked on three jobs and recorded the following actual direct materials cost, direct labor cost, and machine hours for each job: Job 101 Job 102 Job 103 Total Direct materials used $10,300 $ 8,200 $4,600 $ 23,100 Direct labor $ 17,200 $ 5,800 $5,800 $ 28,888 Machine hours 1.600 hours 2,400 hours 500 hours 4,500 hours Book Job 101 was completed and sold for $51,300. Job 102 was completed but not sold. Job 103 is still in process Print Actual overhead costs recorded during the first month of operations totaled $10,500. rences Required: 1. Prepare a journal entry showing the transfer of Job 102 into Finished Goods Inventory upon its completion. 2. Prepare the journal entries to recognize the sales revenue and cost of goods sold for Job 101 3. Prepare the journal entry to transfer the balance of the Manufacturing Overhead account to Cost of Goods Sold. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round your intermediate calculations.) View transaction list View journal entry worksheet ® Debi Credit No A Transaction 01 14,000 General Journal Finished Goods Inventory Work in Process Inventory 14.000 B 02.a 51,300 Cost of Goods Sold Finished Goods Inventory 51,300 < Prev 5 of 7 Hii Next > MacBook Air

Answer 1

No	Transaction	General Journal	Debit	Credit
A	1	Finished goods inventory	$ 22,160
		Work in process inventory		$ 22,160
		(To record the Completion of Finished goods inventory )
B	2a	Cost of Goods Sold	$ 32,940
		Finished Goods Inventory		$ 32,940
		(To record the Cost of Goods Sold for Job 101
C	2b	Cash	$ 51,300
		Sales Revenue		$ 51,300
		(To record the Cash recived )
D	3	Manufacturing overhead ( $ 15,300 (-) $ 10,500 )	$ 4,800
		Cost of Goods Sold		$ 4,800
		(To record the transfer of Manufacturing overhead )
		Workings :
		Predetermined overhead rate        = Est. Manfacturing OH / Est. Machine hours         =   $ 214,200 / 63,000         =   $ 3.4 per MH
			Job 101	Job 102	Job 103	Total
		Direct materials used	$ 10,300	$ 8,200	$ 4,600	$ 23,100
		Direct labor	$ 17,200	$ 5,800	$ 5,800	$ 28,800
		Manufacturing overhead	$ 5,440 ( $ 3.40 x 1,600 )	$ 8,160 ( $ 3.40 x 2,400 )	$ 1,700 ( $ 3.40 x 500 )	$ 15,300
		Total	$ 32,940	$ 22,160	$ 12,100	$ 67,200
		Status	Sold	Finished but not sold	Work in Process