Answer:
<u>1.</u>
Dr. Raw Material 325000
Cr. Account Payable 325000
Dr. Work in process 232000
Dr. Manufacturing overheads 58000
Cr. Account Payable 290000
Dr. Work in process 60000
Dr. Manufacturing overheads 120000
Cr. Account Payable 180000
Dr. Raw Material 75000
Cr. Account Payable 75000
Dr. Manufacturing overheads 62000
Cr. Account Payable 62000
Dr. Work in process 300000
Cr. Manufacturing overheads 300000
$20*15000 = $300000
Predetermined Overhead rate = Total Budgeted Overhead cost/ Total budgeted machine hours
= 4800000/240000 = $20/Machine Hours
<u>2.</u>
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<u>3.</u>
Dr. Finished Goods 592000
Dr. Work in process 592000
<u>4.</u>
Unit product Cost = 592000/ 16000 = $37