11:19 1 a chegg.com E Chegg Study TEXTBOOK SOLUTIONS EXPERTasA home / studybusiness accounting theory accounting theory solutions manuals cost accou Cost Accounting (9th Edition) Chapter 5, Problem 37P ie Eckmarkl Show all steps lalani Corp. uses a job order costing system for the yachts it constructs. On September 1, 2013, the company had the following account balances: Raw Material Inventory 332,400 1,512,600 4,864,000 Work in Process Inventory Cost of Goods Sold On September 1, the three jobs in Work in Process Inventory had the following balances $586 400 266,600 59,600 Job 75 Job 78 Job 82 The following transactions occurred during September: Sept 1 Purchased $1,940,000 of raw material on sccourt 4ssued $1,900,000 of raw material as follows: Job 75,$289,600, Job 78 $252,600; Job #82, s992,200: Job 86,S31 2,400, and ndirect material, $53,200. 15 Prepared and paid the $757,000 factory payrol for Septombar 1-15. Analysis of this payroll showed the folowing nformation Job #75 Job 78 Job 482 Job 486 Indirect labor wages 9,650 hours 84,800 267,200 203,000 110,800 1,400 26,320 hours 20,300 hours 10,280 hours Sept. 15 On each payroll date, lalani Corp. applies manufacturing overhead to jobs at a 15 Job 75 was competed, accepted by the customer, and blled at a selling price 20 Paid the folowngrmonthly ctory bills utlities, $39,600; rent, $70,600; and 24 Purchased raw matorial on account $624,000. ate of $12.50 per direct labor hour of costplus 30 percent Selling prices are rounded to the nearest whole dollar accounts payable laccrued in Augst. $196,800. 25 30 30 sued $716,400 of drect material as follo s Job #78, $154, : Job #82, $212,600 Job #86, $349,000; indirect material issued was $55,800 Recorded additional factory overhead costs as follows. depreciation, S809,000; expired prepaid insurance, $165,400 and accued taxesand lnses, $232,400 Recorded and paid the factory payroll for September 16-30 of $714 A00 Analysis of the payroll follows Job #82 Job 86 Indrect labor wages 8,940 hours $177 400 228,400 243,600 65,000 13,650 hours ,980 hours 30 Applied overhead for the second half of the month to jobs. a. Journalize the September transactions. b. Use T-accounts to post the information from the journal entries in (a) to the job cost subsidiary accounts and to general ledger accounts c. Reconcile the September 30 balances in the subsidiary ledger with the Work in Process Inventory account in the general ledger d. Determine the amount of underapplied or overapplied