Problem 20-03A a-d (Video) Ivanhoe Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2020, the general ledger for Ivanhoe Inc. contains the following data. $33,600 Raw Materials Inventory Work in Process Inventory $4,000 Manufacturing Overhead Applied $5,125 Manufacturing Overhead Incurred $32,200 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Rodgers Stevens Direct materials Direct labor Manufacturing overhead $800 500 Linton $900 500 $500 300 375 $1,175 625 625 $1,925 $2,025 During June, raw materials purchased on account were $5,200, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $800 and miscellaneous 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 Time Tickets Rodgers Koss Stevens Linton $800 2,200 500 1,400 300 5,200 1,600 $6,800 $700 700 400 1,400 400 Rodgers General use 3,600 1,000 $4,600 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 $17,000. Each customer paid in full. 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. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (1) (To record purchase of raw materials) (To record factory labor costs paid) (To record manufacturing overhead costs incurred) (2) (To record assignment of direct materials) (To record assignment of factory labor) (To record assignment of manufacturing overhead) (3) (To record completion of jobs) (To record sale of goods) (To record the cost of goods sold) Post the entries to Work in Process Inventory. (Post the entries to Work in Process Inventory in the order presented in the problem.) Work in Process Inventory 6/1 June 6/30 Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. Costs of unfinished Job: les Direct Materials $ + Direct Labor $ + Manufacturing Overhead $ Prepare a cost of goods manufactured schedule for June. IVANHOE INC. Cost of Goods Manufactured Schedule $ Click if you would like to Show Work for this question: Open Show Work