SOLVE FULLY PLEASESOLVE FULLY PLEASE

WIP Ledger Job Cost Sheets Job 71, 20 Units of Jazz Series Guitars, Beginning Balance, $3,000 Job 72, 60 Units of American Series Guitars, -0 Finished Goods Ledger Jazz Series Guitars, Beginning Balance $20,000 Factory overhead, Beginning Balance, $200 credit balance Transactions for December: Enter the Dec. 1 beginning balances (a) Purchased materials $10,500 (No. 8 Wood - Maple) (b) Direct materials requisitioned to production jobs, $13,000 (Job 71, $2,000 and Job 72, $11,000) $13,000 No. 8 Wood - Maple Factory labor (DL) used in production of jobs, $11,000 (Job 71, $3,500 and Job 72, $7,500) Factory overhead incurred (actual) in production, $500 Indirect Materials ($200 Glue and $300 Sandpaper), $900 Utilities, $1,200 Accumulated depreciation, $2,000 Indirect Wages (c) (d) (e) Factory overhead applied to jobs according to predetermined overhead rate of $5 per direct labor hour, $4,250 (Job 71, 350 hours and Job 72, 500 hours) (f Closed underapplied factory overhead to COGS, balance in FO is $350 debit. (g) Job 71 completed in December, $10,250 (h Sold 40 Jazz Series guitars on account for $850 each (i) Recorded cost of guitars sold in (h) $500 each G) Recorded December period costs (operating expenses): Sales salaries expense 2,000, office salaries expense $1,500