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job order st of goods dule. P2-3A Case Inc. is a construction company specializing in custom patios. The patios are preference. On June 1, 2017, the general ledger for Case Inc. contains the following data. Raw Materials Inventory $4,200 Work in Process Inventory $5,540 Manufacturing Overhead Applied Manufacturing Overhead Incurred $32,640 $31,650 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Cost Element Direct materials Direct labor Manufacturing overhead Rodgers $ 600 320 400 $1,320 Stevens Linton Rodgers During June, raw materials purchased on account were $4,900, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $900 and miscel- laneous costs of $400 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Customer Job Materials Requisition Slips $ 800 Rodgers Koss 2,000 500 1,300 300 General use Customer Job Stevens $ 800 540 675 $2,015 4,900 1,500 $6,400 Linton $ 900 580 725 $2,205 Time Tickets $ 850 800 360 1,200 390 3,600 1,200 $4,800 Overhead was charged to jobs at the same rate of $1.25 per dollar of direct labor cost. The patios for customers Rodgers, Stevens, and Linton were completed during June and sold for a total of $18,900. Each customer paid in full. Instructions (a) Journalize the June transactions: (1) for purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred; (2) assignment of direct materials, labor, and overhead to production; and (3) completion of jobs and sale of goods. (b) Post the entries to Work in Process Inventory. (c) Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. (d) Cost of c (d) Prepare a cost of goods manufactured schedule for June. manufa Computa job order st of goods dule. P2-3A Case Inc. is a construction company specializing in custom patios. The patios are preference. On June 1, 2017, the general ledger for Case Inc. contains the following data. Raw Materials Inventory $4,200 Work in Process Inventory $5,540 Manufacturing Overhead Applied Manufacturing Overhead Incurred $32,640 $31,650 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Cost Element Direct materials Direct labor Manufacturing overhead Rodgers $ 600 320 400 $1,320 Stevens Linton Rodgers During June, raw materials purchased on account were $4,900, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $900 and miscel- laneous costs of $400 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Customer Job Materials Requisition Slips $ 800 Rodgers Koss 2,000 500 1,300 300 General use Customer Job Stevens $ 800 540 675 $2,015 4,900 1,500 $6,400 Linton $ 900 580 725 $2,205 Time Tickets $ 850 800 360 1,200 390 3,600 1,200 $4,800 Overhead was charged to jobs at the same rate of $1.25 per dollar of direct labor cost. The patios for customers Rodgers, Stevens, and Linton were completed during June and sold for a total of $18,900. Each customer paid in full. Instructions (a) Journalize the June transactions: (1) for purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred; (2) assignment of direct materials, labor, and overhead to production; and (3) completion of jobs and sale of goods. (b) Post the entries to Work in Process Inventory. (c) Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. (d) Cost of c (d) Prepare a cost of goods manufactured schedule for June. manufa Computa
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Accounting Principles
ISBN: 978-1118875056
12th edition
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
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