Kubota Corporation manufactures equipment in batches for inventory stock. Assume that Kubota’s production costs are accounted for using a job cost system. At the beginning of April raw materials inventories totaled \($8,500,000\), manufacturing supplies amounted to \($1,200,000\) and finished goods inventories totaled \($6,000,000\). Two jobs were in process: Job 522 with assigned costs of \($5,750,000\) and Job 523 with assigned costs of \($2,600,000\). The following information summarizes April manufacturing activities:

Purchased raw materials costing \($25,000,000\) on account.

Purchased manufacturing supplies costing \($3,000,000\) on account.

Requisitioned materials needed to complete Job 523. Started two new jobs, 524 and 525, and requisitioned direct materials for them.

Recorded April salaries and wages as follows:

* Used manufacturing supplies costing $2,250,000.
* Recognized depreciation on factory fixed assets of $4,000,000.
* Incurred miscellaneous manufacturing overhead costs of \($5,500,000\) on account.
* Applied manufacturing overhead at the rate of \($6\) per direct labor hour.
¢ Completed Jobs 522, 523, and 524.
Required
Prepare a complete analysis of all activity in Work-in-Process. Be sure to show the beginning and ending balances, all increases and decreases, and label each item. Provide support information on decreases with job cost sheets.

Transcribed Image Text:

Direct materials Job 523.. Job 524.. Job 525.. Total $ 3,000,000 12.900.000 9.600.000 $25,500,000