Mantel Manufacturing Company uses a job order cost accounting system.

The following is a summary of transactions completed during its first year of operations:

REQUIRED 1. Prepare general journal entries for the foregoing transactions. Make compound entries for (b), (c), and (f), but with separate debits for each job. (Use journal page numbers 7 and 8.)

2. Post the entries to the general ledger T accounts for Work in Process and Finished Goods, and determine the ending balances in these accounts.

3. Determine the balances in the job cost ledger to support the balance in the work in process account.

4. Determine the balances in the finished goods ledger to support the balance in the finished goods account.

5. Determine the amount of underapplied or overapplied overhead.

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(a) Purchased materials on account, $435,000. (b) (1) Issued direct materials to production. Job No. 1 $ 55,000 Job No. 2 76,000 Job No. 3 59,800 Job No. 4 $119,000 Job No. 5 65,000 Job No. 6 18,000 (2) Issued indirect materials to production, $11,900. (c) (1) Incurred factory labor costs. Job No. 1 Job No. 2 Job No. 3 $34,000 40,000 29,000 Job No. 4 $76,000 Job No. 5 38,000 Job No. 6 12,000 (d) (e) (f) (g) (h) (2) Incurred indirect labor costs, $10,000. Incurred other factory overhead costs, $96,000. Depreciation expense on factory equipment, $29,000. Applied factory overhead, 65% of direct labor cost incurred on jobs. Finished Job Nos. 1, 2, 4, and 5 as products A, B, D, and E, respectively. Shipped products A, B, and D and billed customers for $158,000, $210,000, and $362,000, respectively.