Long Board Company manufactures designer paddle boards in a wide variety of sizes and styles. The following
Question:
Long Board Company manufactures designer paddle boards in a wide variety of sizes and styles. The following incomplete ledger accounts refer to transactions that are summarized for May:
Determine the missing amounts associated with each letter by completing the table below. If an amount is zero, enter in "0". If required, round your answer to two decimal places. Enter all amounts as positive numbers.
Job No. | Quan- tity | May 1 Work in Process | Direct Materials | Direct Labor | Factory Overhead | Total Cost | Unit Cost | Units Sold | Cost of Goods Sold |
No. 15 | 250 | $ | $25,000 | $18,750 | $ | $ | $ | $ | |
No. 16 | 500 | 42,500 | 32,500 | ||||||
No. 17 | 250 | 17,500 | 10,000 | ||||||
No. 18 | 300 | 37,500 | 31,500 | ||||||
No. 19 | 220 | 27,500 | 22,000 | ||||||
No. 20 | 175 | 10,000 | 5,620 | ||||||
Total | 1,695 | $ | $160,000 | $120,370 | $ | $ | $ |
Determine the May 31 balances for each of the inventory accounts and factory overhead.
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren