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1: Requisitions amounted to: $300, $60, $36, $96, ($32) Raw Materials $300 | $60 | $36 | $96 | | $32 Acounts Payable | $300 | $60 | $36 | $96 $32 | These costs are transferred to Work in Progress as follows: Work in Progress 460 Raw Materials 460 Hours spent on the project amount to: 1.4+3.3+8.8+4.0+8.4+4.7+7.0+4.9+3.5, for a total of 46 hours. At $8 average wage, plus $5.60 in benefits, $.40 in overtime, and $4 in other overhead, the total cost per hour is $18: Work in Progress 368 Manufacturing Overhead 460 Salaries & Wages Payable 828 Progress of the costs through the rest of the system: Finished Goods 828 Work in Progress 828 Cost of Goods Sold 828 Finished Goods 828 Total costs: Goods: 828 Overhead: 460 Total: 1288 2: Cost Pool 1: Salary $12/hr, benefits $8.40/hr, other overhead+overtime $4.60/hr, total $25 Cost Pool 2: Salary $8/hr, benefits $5.60/hr, other overhead+overtime $4.40/hr, total $18 Cost Pool 3: Salary $6/hr, benefits $4.20/hr, other overhead+overtime $4.30/hr, total $14.50 Hours worked: Cost Pool 1: 3.3+8.8+8.4+7.0+3.5=31 Cost Pool 2: 1.4+4.7+4.9=11 Cost Pool 3: 4.0=4.0 Accounting: Cost Pool 1 Work in Progress 372 Manufacturing Overhead 403 Salaries & Wages Payable 775 Cost Pool 2 Work in Progress 88 Manufacturing Overhead 110 Salaries & Wages Payable 198 Cost Pool 3 Work in Progress 24 Manufacturing Overhead 34 Salaries & Wages Payable 58 Total: Work in Progress 484 Manufacturing Overhead 547 Salaries & Wages Payable 1031 Progress of the costs through the rest of the system: Finished Goods 944 Work in Progress 944 Cost of Goods Sold 944 Finished Goods 944 Total costs: Goods: 944 Overhead: 547 Total: 1491 3: 2007 sales/production cost ratio: 1.38 Given the costs above, the new bid should be: 1491 * 1.38, or $2057.