Alpine Bliss Ski Company manufactures snow skis in a wide variety of lengths and styles. The following incomplete ledger accounts refer to transactions that are summarized for October:

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

b. Factory overhead is applied to each job at a rate of 140% of direct labor cost.
c. The October 1 Work in Process balance consisted of two jobs, as follows:

d. Customer jobs completed and units sold in October 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 October 31 balances for each of the inventory accounts and factoryoverhead.

Transcribed Image Text:

Materials Oct 1 Balance 20,000 Oct. 3 Requisitions 100,000 31 Purchases Work in Process Oct 1 Balance (B) Oct. 31 Completed jobs 31 Materials 31 Direct labor 31 Factory overhead applied Finished Goods Oct 1 Balance 0 Oct. 31 Cost of goods sold 31 Completed jobs Wages Payable Oct. 31 Factory Overhead Wages incurred 76,000 Oct 1 Balance 5,000 Oct. 31 Factory overhead applied 31 Indirect labor 31 Indirect materials 31 Other overhead 2,500 57,500 Direct Direct Job No. Style Quantity Materials Labor 175 375 175 200 150 100 1,175 V-100 V-200 V-500 A-200 V-400 A-100 17200 513,.000 No. 51 No. 52 No. 53 No. 54 No. 55 No. 56 Total 28,000 10,000 27,500 18,000 5,000 105,500 17,000 4,500 11,000 3,700 Work in Process, October 1 Job No. Job 51 Job 52 Total Style V-100 V-200 5,000 11,000 516,000 Units Sold in October 150 215 Completed in October Job 51 Job 52 Job 53 Job 54 Job 55 Job 56 Style V-100 V-200 V-500 A-200 V-400 A-100 160 100 Oct. 1 Work in DDiFactry Total Uit Units Goods Cost of Job No. Quantity Process Materials Labor Overhead Cost old Sold Direct