Question

Clapton Company manufactures custom guitars in a wide variety of styles. The following incomplete ledger accounts refer to transactions that are summarized for May:


In addition, the following information is available:
a. Materials and direct labor were applied to six jobs in May:


b. Factory overhead is applied to each job at a rate of 50% of direct labor cost.
c. The May 1 Work in Process balance consisted of two jobs, as follows:


d. Customer jobs completed and units sold in May were as follows:


Instructions
1. Determine the missing amounts associated with each letter. Provide supporting calculations by completing a table with the following headings:


2. Determine the May 31 balances for each of the inventory accounts and factoryover-head.


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  • CreatedJune 27, 2014
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