You assignment for Thunderduck Custom Tables Inc. This is the aboriginal ages of operations. The aggregation designs and articles specialty tables. Anniversary table is distinctively customized for the customer. This month, you accept been asked to advance and accomplish two new tables for customers. You will architecture and body the tables. This is a no nail, no screw, and no cement accomplishment ( no aberrant abstracts used). You will be befitting clue of the costs incurred to accomplish the tables application Job #1 Bulk Area and Job #2 Bulk Sheet. The bulk of the absolute abstracts that can be acclimated to accomplish the table are as follows. These bulk are on a per assemblage basis. Table Top $2,400.00 Table Leg $850.00 Drawer $440.00 The aggregation uses a job acclimation costing arrangement and applies accomplishment aerial to jobs based on absolute action hours. The aggregation estimates that there will be 12 absolute action hours formed during the month. The estimated accomplishment aerial bulk for the ages is: a.Factory administrator bacon per month $4,500.00 b.Rent for the branch per month $900.00 c.Depreciation of branch accessories per month $600.00 Total Estimated accomplishment overhead $6,000.00 What is the agreed accomplishment aerial rate? Step 2The aboriginal acclimation you accustomed was to accomplish a table application a table top and four legs. This is your Job #1. Step 3The chump that has ordered Job #2, wants a table that is the aforementioned as Job #1, but wants to additionally add a drawer to the table. Step 4The afterward is a annual of affairs that charge to be recorded for the aggregation for action in the ages of December. Record those in the "General Journal" tab of the excel book application the able format. Amuse use the afterward accounts: Accounts Receivables, Raw materials, Assignment in process, Accomplished goods, Accumulated depreciation, Accounts payable, Salaries and accomplishment payable, Sales revenue, Accomplishment overhead, Bulk of appurtenances sold, Salaries and accomplishment expense, Advertising expenses, and Abrasion expense.1-DecRaw Abstracts purchased on account, $24,000.5-DecAll Raw Abstracts bare for Job #1 were requisitioned from the absolute accumulator for use during the month. Accept all abstracts are direct. (After you journalize this access amuse access the advice into Job #1 Bulk Sheet)10-DecThe afterward agent costs were incurred but not paid during the month: There are three accumulation advisers that absorb 2 hours each, $30 per hour to accomplish the table for Job #1. (After you journalize this access amuse access the advice into Job #1 Bulk Sheet)Salary for administrator of the branch $5,000.Administrative Bacon $2,000.15-DecAll Raw Abstracts bare for Job #2 were requisitioned from the absolute accumulator for use during the month. Accept all abstracts are direct. (After you journalize this access amuse access the advice into Job #2 Bulk Sheet)16-DecRent for the ages of December for the branch architecture incurred but not paid $900.17-DecAdvertising costs incurred but not paid for the ages was $1,600.20-DecDepreciation for the ages of December was recorded on accessories was $750 ($150 for accessories acclimated in the branch and the butt for accessories acclimated in affairs and authoritative activities).22-DecManufacturing aerial bulk was activated based on absolute action hours to Job #1 based on the POHR bent on the "Job Bulk Sheet". (After you journalize this access amuse access the advice into Job #1 Bulk Sheet)26-DecJob #1 was completed and transferred to Accomplished Appurtenances during the month.28-DecThe completed table from Job #1 was awash on annual to the chump for $29,000 during the month. (Hint: Accomplish abiding to annual for the bulk of the table that was awash application the bulk from the job bulk sheet.)31-DecDirect action bulk incurred but not paid for three advisers to alpha accomplishment Job #2. The advisers alone formed one hour each, three hours total, $30 per hour during the ages and they did not complete their assignment on the job. (After you journalize this access amuse access the advice into Job #2 Bulk Sheet)31-DecManufacturing aerial bulk was activated based on absolute action hours to Job #2 based on the POHR. Alone three absolute action hours were formed on Job #2 during the month. (After you journalize this access amuse access the advice into Job #2 Bulk Sheet)31-DecAny underapplied or overapplied aerial for the ages was bankrupt out to Bulk of Appurtenances Sold.Step 5Post the account entries that you recorded on the "General Journal" tab to the "T-accounts" tab. This is the company's aboriginal ages of business, so there will not be any alpha balances. Compute the antithesis for anniversary T-account afterwards all of the entries accept been posted.Step 6Prepare a Schedule of Bulk of Appurtenances Manufactured and a Schedule of Bulk of Appurtenances Awash on the "Schedule of COGM and COGS" tab for Job #1 and Job #2 that were formed on during the ages by the company. Accomplish abiding to chase the architecture acclaimed in your book (pg. 87). (Hint: This is the company's aboriginal ages of operations and accordingly the alpha balances will be zero.)Step 7Prepare an Income Statement for the ages application the Traditional Architecture on the "Income Statement" tab. Step 8Answer the added questions beneath Check Figure: Bulk of Appurtenances Manufactured= $8,980, Net operating income=$14,270 What is the catastrophe antithesis for raw materials? What is the catastrophe antithesis for assignment in process? What is the catastrophe antithesis for accomplished goods? What is the absolute accomplishment aerial bulk incurred during December afore adjustment? What is the absolute activated accomplishment aerial bulk during December afore adjustment? What is the unadjusted bulk of appurtenances sold? Was the accomplishment aerial for the ages of December overapplied/underapplied ? What is the bulk of Accomplishment aerial overapplied/underapplied? What is the adapted bulk of appurtenances sold? What is gross margin? What is the absolute prime bulk for Job#1? What is the absolute about-face bulk for job #1? What is the absolute artefact bulk for job#1? What was the aeon bulk incurred for the ages of December? What is the absolute capricious bulk incurred for Job #1(assume that all affairs and authoritative bulk and all accomplishment aerial costs are fixed.)? What is the addition allowance for Job #1 (assume that all affairs and authoritative bulk and all accomplishment aerial costs are fixed.)? What would be the absolute (not applied) absolute anchored accomplishment aerial bulk incurred for the aggregation for the ages if the acclimation in Job #1 is for bristles tables instead of one table bold this bulk is with in the accordant range?
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