CALCULATOR PRINTER VERSION BACK NEXT Problem 15-OSA (Video) Coronado Corporation's fiscal year ends on November 30. The following accounts are found in its job order cost accounting system for the first month of the new fiscal year. Other data: 1. On December 1, two jobs were in process: Job No. 154 and Job No. 155. These jobs had combined direct materials costs of $9,850 and direct labor costs of $17,100. Overhead was applied at a rate that was 75% of direct labor cost. 2. During December, Job Nos. 156, 157, and 158 were started on December 31, Job No. 158 was unfinished. This job had charges for direct materials $4,500 and direct labor $4,900, plus manufacturing overhead. All jobs, except for Job No. 158, were completed in December, 3. On December 1, Job No. 153 was in the finished goods warehouse. It had a total cost of $5,400. On December 31, Job No. 157 was the only job finished that was not sold. It had a cost of $4,300. 4. Manufacturing overhead was $1,495 underapplied in December List the letters (a) through (m) and indicate the amount pertaining to each letter. Raw Materials Inventory Dec. 1 Beginning balance Requisitions 18.150 18150 () Dec 31 18.225 31 Purchases Dec. 31 Ending balance Work in Process Inventory 39775 (D) Dec 31 Jobs completed Dec. 1 Beginning balance 31 Direct materials 31 Direct labor 8,900 31 Overhead 6679 (d) Dec. 31 Ending balance Finished Goods Inventory Dec. 1 Beginning balance 18,150 31 Purchases Dec. 31 Ending balance Raw Materials Inventory 18150 (a) Dec. 31 Requisitions 18.225 8,335 Work in Process Inventory 39775 (b) Dec. 31 Jobs completed Dec. 1 Beginning balance 31 Direct materials 31 Direct labor 31 Overhead 8,900 6675 (d) Dec. 31 Ending balance Finished Goods Inventory 5400 (0) Dec 31 Cost of goods sold Dec. 1 Beginning balance 31 Completed jobs Dec 31 Ending balance Dec 31 Factory wages Factory Labor 12,225 Dec 31 Wages assigned Manufacturing Overhead 3,300 Dec 31 Overhead applied Dec 31 Indirect materials 31 Indirect labor CALCULATOR PRINTER VERSION BACK NEXT Problem 15-OSA (Video) Coronado Corporation's fiscal year ends on November 30. The following accounts are found in its job order cost accounting system for the first month of the new fiscal year. Other data: 1. On December 1, two jobs were in process: Job No. 154 and Job No. 155. These jobs had combined direct materials costs of $9,850 and direct labor costs of $17,100. Overhead was applied at a rate that was 75% of direct labor cost. 2. During December, Job Nos. 156, 157, and 158 were started on December 31, Job No. 158 was unfinished. This job had charges for direct materials $4,500 and direct labor $4,900, plus manufacturing overhead. All jobs, except for Job No. 158, were completed in December, 3. On December 1, Job No. 153 was in the finished goods warehouse. It had a total cost of $5,400. On December 31, Job No. 157 was the only job finished that was not sold. It had a cost of $4,300. 4. Manufacturing overhead was $1,495 underapplied in December List the letters (a) through (m) and indicate the amount pertaining to each letter. Raw Materials Inventory Dec. 1 Beginning balance Requisitions 18.150 18150 () Dec 31 18.225 31 Purchases Dec. 31 Ending balance Work in Process Inventory 39775 (D) Dec 31 Jobs completed Dec. 1 Beginning balance 31 Direct materials 31 Direct labor 8,900 31 Overhead 6679 (d) Dec. 31 Ending balance Finished Goods Inventory Dec. 1 Beginning balance 18,150 31 Purchases Dec. 31 Ending balance Raw Materials Inventory 18150 (a) Dec. 31 Requisitions 18.225 8,335 Work in Process Inventory 39775 (b) Dec. 31 Jobs completed Dec. 1 Beginning balance 31 Direct materials 31 Direct labor 31 Overhead 8,900 6675 (d) Dec. 31 Ending balance Finished Goods Inventory 5400 (0) Dec 31 Cost of goods sold Dec. 1 Beginning balance 31 Completed jobs Dec 31 Ending balance Dec 31 Factory wages Factory Labor 12,225 Dec 31 Wages assigned Manufacturing Overhead 3,300 Dec 31 Overhead applied Dec 31 Indirect materials 31 Indirect labor