Mastery Problem: Job Order Costing Purl of Great Price Company Maria Young is the sole stockholder of Purl of Great Pric

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Mastery Problem: Job Order Costing
Purl of Great Price Company
Maria Young is the sole stockholder of Purl of GreatPrice Company (POGP Company), which produces high-end knittedsweaters and sweater vests for sale to retail outlets. The companystarted in January of the current year, and employs three knitters(each of whom work 40 hours per week) and one officemanager/knitting supervisor (this employee works 20 hours per weekas office manager, and 20 hours per week as knitting supervisor).All wages are paid in cash at the end of each month.
Each knitter has a knitting machine that is used about2/3 of the knitter’s time, the rest of the knitter’s time beinginvolved in hand knitting and piecing together the garments. Thecompany also has a packaging machine used to wrap the garments inplastic for shipping, which is operated by the officemanager/knitting supervisor approximately 5 hours perweek.
The knitting machines were purchased on January 1 of thecurrent year, and cost $2,400 each, with an anticipated useful lifeof 10 years and no salvage value. The packaging machine waspurchased on the same date and cost $4,800, with the sameanticipated useful life and salvage value.
Question Content Area
Nov. 30 Trial Balance
Predetermined Factory Overhead Rate
Since the company is more reliant on labor thanmachines, Maria decides to use direct labor hours (DLH) as theactivity base for her predetermined factory overhead rate, ratherthan machine hours (MH).
Job Cost Sheets
On December 10, POGP Company receives an order for 200sweater vests and assigns Job 83 to the order. Review the MaterialsRequisition table to add the materials to the Job Cost Sheet forJob 83.
On December 15, review the Time Ticket tables to add theappropriate amount of direct labor and factory overhead costs tothe Job Cost Sheet for Job 62 for the period December 1 throughDecember 15.
On December 31, the last work day of the year for theknitters, review Time Ticket tables to add the appropriate amountof direct labor and factory overhead costs to the Job Cost Sheetfor Job 83 for the period December 16 through December31.
If there is no amount or an amount is zero, enter "0".If required, round your answers to the nearest cent.
Journal
On December 10, POGP Company receives an order for 200sweater vests and assigns Job 83 to the order. Review the MaterialsRequisition table to journalize the entry to record the addition ofthe materials to Work in Process. If an amount box does not requirean entry, leave it blank.