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1. On December 1, two jobs were in process: Job No. 154 and Job No. 155. These jobs had combined direct materials costs of $9,850
1. | On December 1, two jobs were in process: Job No. 154 and Job No. 155. These jobs had combined direct materials costs of $9,850 and direct labor costs of $16,100. Overhead was applied at a rate that was 75% of direct labor cost. | |
2. | During December, Job Nos. 156, 157, and 158 were started. On December 31, Job No. 158 was unfinished. This job had charges for direct materials $4,000 and direct labor $5,100, plus manufacturing overhead. All jobs, except for Job No. 158, were completed in December. | |
3. | On December 1, Job No. 153 was in the finished goods warehouse. It had a total cost of $5,100. On December 31, Job No. 157 was the only job finished that was not sold. It had a cost of $4,100. | |
4. | Manufacturing overhead was $745 underapplied in December. |
List the letters (a) through (m) and indicate the amount pertaining to each letter.
Raw Materials Inventory | |||||||
Dec. 1 | Beginning balance | (a) | Dec. 31 | Requisitions | 18,350 | ||
31 | Purchases | 19,325 | |||||
Dec. 31 | Ending balance | 8,205 |
Work in Process Inventory | |||||||
Dec. 1 | Beginning balance | (b) | Dec. 31 | Jobs completed | (f) | ||
31 | Direct materials | (c) | |||||
31 | Direct labor | 9,100 | |||||
31 | Overhead | (d) | |||||
Dec. 31 | Ending balance | (e) |
Finished Goods Inventory | |||||||
Dec. 1 | Beginning balance | (g) | Dec. 31 | Cost of goods sold | (i) | ||
31 | Completed jobs | (h) | |||||
Dec. 31 | Ending balance | (j) |
Factory Labor | |||||||
Dec. 31 | Factory wages | 12,125 | Dec. 31 | Wages assigned | (k) |
Manufacturing Overhead | |||||||
Dec. 31 | Indirect materials | 3,200 | Dec. 31 | Overhead applied | (m) | ||
31 | Indirect labor | (l) | |||||
31 | Other overhead | 1,345 |
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