Write a brief introduction about your product, and how much you would sell it for. Product Costs Table 1: Direct Material costs (per unit) Table 2: Direct Labor costs (per hour) Table 3: Manufacturing Overhead costs -plant overhead -indirect labor -indirect material Period Costs Table 4: Selling and Administrative expenses Cost Flow Entries Assuming in the first month of operation, you started production of 1,000 units of your product, completed 800 units, and sold 600 units, record all entries required to move costs from Tables 1, 2, and 3 to Work-In-Process, then to Finished Goods, then to Cost of Goods Sold (You can set your own Sales Price) Note: In allocating Manufacturing Overhead to WIP, you need to use an overhead rate using an estimated base (either labor cost, labor hours, or machine hours)
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