SOLUTION: ACCT 2302 Richland College Job Order Costing & Schedule of Cost of Goods Paper

Hi,Please find attached the proposed answers to the questions.Do not hesiate to contact me if you have any question.Open the attached excel file “ACCT 2302 Project Excel Template”. The file includes blanktemplates for General Journal. T-Accounts (General Ledger), Job #1 Cost Sheet, Job #2 CostSheet, Schedule of Cost of Goods Manufactured, Cost of Goods Sold and Income Statement.Step 1You work for Thunderduck Custom Tables Inc. This is the first month of operations. Thecompany designs and manufactures specialty tables. Each table is specially customized for thecustomer. This month, you have been asked to develop and manufacture two new tables forcustomers. You will design and build the tables. This is a no nail, no screw, and no gluemanufacturing ( no indirect materials used). You will be keeping track of the costs incurred tomanufacture the tables using Job #1 Cost Sheet and Job #2 Cost Sheet. The cost of the directmaterials that can be used to manufacture the table are as follows. These cost are on a per unitbasis.Table Top $1,200.00Table LegDrawer$250.00$320.00The company uses a job order costing system and applies manufacturing overhead to jobsbased on direct labor hours.The company estimates that there will be 12 direct labor hours worked during the month.The estimated manufacturing overhead cost for the month is:a.Factory supervisor salary per month $3,500.00b.Rent for the factory per month $700.00c.Depreciation of factory equipment per month$600.00Total Estimated manufacturing overhead $4,800.00What is the predetermined manufacturing overhead rate? $4,800 / 12 Direct labor hours =$400 per Direct Labor HourStep 2The first order you received was to manufacture a table using a table top and four legs. This isyour Job #1.Step 3 The customer that has ordered Job #2, wants a table that is the same as Job #1, butwants to also add a drawer to the table.Step 4 The following is a list of transactions that need to be recorded for the company foractivity in the month of December. Record those in the “General Journal” tab of the excel fileusing the proper format. Please use the following accounts:Accounts Receivables, Raw materials, Work in process, Finished goods, Accumulateddepreciation, Accounts payable, Salaries and wages payable, Sales revenue, Manufacturingoverhead, Cost of goods sold, Salaries and wages expense, Advertising expenses, andDepreciation expense.1-Dec Raw Materials purchased on account, $12,000.5-Dec All Raw Materials needed for Job #1 were requisitioned from the material storage for useduring the month. Assume all materials are direct. (After you journalize this entry please enterthe information into Job #1 Cost Sheet)10-Dec The following employee costs were incurred but not paid during the month:There are three assembly employees that spend 2 hours each, $30 per hour to make the tablefor Job #1. (After you journalize this entry please enter the information into Job #1 CostSheet)Salary for supervisor of the factory $4,000.Administrative Salary $2,000.15-Dec All Raw Materials needed for Job #2 were requisitioned from the material storage foruse during the month. Assume all materials are direct. (After you journalize this entry pleaseenter the information into Job #2 Cost Sheet)16-Dec Rent for the month of December for the factory building incurred but not paid $700.17-Dec Advertising costs incurred but not paid for the month was $1,600.20-Dec Depreciation for the month of December was recorded on equipment was $750 ($150for equipment used in the factory and the remainder for equipment used in selling andadministrative activities).22-Dec Manufacturing overhead cost was applied based on direct labor hours to Job #1 basedon the POHR determ…

Order a unique copy of this paper
(550 words)

Approximate price: $22

Our Basic features
  • Free title page and bibliography
  • Plagiarism-free guarantee
  • Unlimited revisions
  • Money-back guarantee
  • 24/7 support
Our Options
  • Writer’s samples
  • Expert Proofreading
  • Overnight delivery
  • Part-by-part delivery
  • Copies of used sources
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

AcademicWritingCompany guarantees

Our customer is the center of what we do and thus we offer 100% original essays..
By ordering our essays, you are guaranteed the best quality through our qualified experts.All your information and everything that you do on our website is kept completely confidential.

Money-back guarantee

Academicwritingcompany.com always strives to give you the best of its services. As a custom essay writing service, we are 100% sure of our services. That is why we ensure that our guarantee of money-back stands, always

Read more

Zero-plagiarism tolerance guarantee

The paper that you order at academicwritingcompany.com is 100% original. We ensure that regardless of the position you are, be it with urgent deadlines or hard essays, we give you a paper that is free of plagiarism. We even check our orders with the most advanced anti-plagiarism software in the industry.

Read more

Free-revision guarantee

The Academicwritingcompany.com thrives on excellence and thus we help ensure the Customer’s total satisfaction with the completed Order.To do so, we provide a Free Revision policy as a courtesy service. To receive free revision the Academic writing Company requires that the you provide the request within Fifteen (14) days since the completion date and within a period of thirty (30) days for dissertations and research papers.

Read more

Privacy and Security policy

With Academicwritingcompan.com, your privacy is the most important aspect. First, the academic writing company will never resell your personal information, which include credit cards, to any third party. Not even your lecturer on institution will know that you bought an essay from our academic writing company.

Read more

Adherence to requirements guarantee

The academic writing company writers know that following essay instructions is the most important part of academic writing. The expert writers will, therefore, work extra hard to ensure that they cooperate with all the requirements without fail. We also count on you to help us provide a better academic paper.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2020 at 10:52 AM
Total price:
$26
The price is based on these factors:
Customer Academic level
Number of pages required
Urgency of paper