Carla Vista Corporation’s fiscal year ends on June 30. The following accounts are found in its job-order cost accounting system for the first month of the new fiscal year:

Raw Materials Inventory

July 1

Beginning balance

15,700

July 31

Requisitions

(a)

31

Purchases

90,600

July 31

Ending balance

(b)

Work in Process Inventory

July 1

Beginning balance

(c)

July 31

Jobs completed

(f)

31

Direct materials

74,300

31

Direct labour

(d)

31

Overhead

(e)

July 31

Ending balance

(g)

Finished Goods Inventory

July 1

Beginning balance

(h)

July 31

Cost of goods sold

(j)

31

Jobs completed

(i)

July 31

Ending balance

(k)

Factory Labour

July 31

Factory wages

(l)

July 31

Wages assigned

(m)

Manufacturing Overhead

July 31

Indirect materials

8,400

July 31

Overhead applied

114,300

31

Indirect labour

15,300

31

Other overhead

(n)

Other data:

1.	On July 1, two jobs were in process: Job No. 4085 and Job No. 4086, with costs of $19,300 and $13,350, respectively.
2.	During July, Jobs 4087, 4088, and 4089 were started. On July 31, only Job No. 4089 was unfinished. This job had charges for direct materials of $2,090 and direct labour of $1,560, plus manufacturing overhead. Manufacturing overhead was applied at the rate of 125% of direct labour cost.
3.	On July 1, Job No. 4084, costing $145,400, was in the finished goods warehouse. On July 31, Job No. 4088, costing $138,900, was in finished goods.
4.	Overhead was $3,150 under-applied in July.

Indicate the amount pertaining to each letter.

(a)	$enter a dollar amount
(b)	$enter a dollar amount
(c)	$enter a dollar amount
(d)	$enter a dollar amount
(e)	$enter a dollar amount
(f)	$enter a dollar amount
(g)	$enter a dollar amount
(h)	$enter a dollar amount
(i)	$enter a dollar amount
(j)	$enter a dollar amount
(k)	$enter a dollar amount
(l)	$enter a dollar amount
(m)	$enter a dollar amount
(n)	$enter a dollar amount

Answer rating: 100% (QA)

Answer Raw Material Inventory Jul01 Beginning Balance 15700 Jul31 Requisitions 82700 Jul31 Purchases ... View the full answer