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15-03A Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference.
15-03A Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2020, the general ledger for Case Inc. contains the following data. Raw Materials Inventory Manufacturing Overhead Applied Manufacturing Overhead Incurred Work in Process Inventory $4,500 $5,450 Subsidiary data for Work in Process Inventory on June 1 are as follows. $30,100 $34,300 Cost Element Direct materials Direct labor Manufacturing overhead Job Cost Sheets Customer Job Rodgers Stevens Linton $700 300 $700 $900 500 600 375 $1,375 625 $1,825 750 $2,250 During June, raw materials purchased on account were $5,200, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $900 and miscellaneous costs of $500 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Customer Job Rodgers Koss Materials Requisition Slips $700 2,200 Time Tickets Stevens Linton Rodgers General use $800 800 600 1,400 400 1,000 300 400 5,200 3,400 1,300 $6,500 1,400 $4,800 Overhead was charged to jobs at the same rate of $1.25 per dollar of direct labor cost. The patios for customers Rodgers, Stevens, and Linton were completed during June and sold for a total of $19,200. Each customer paid in full. Journalize the June transactions: (1) for purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred; (2) assignment of direct materials, labor, and overhead to production; and (3) completion of jobs and sale of goods. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (1) (2) (3) (To record purchase of raw materials) (To record factory labor costs paid) (To record manufacturing overhead costs incurred) (To record assignment of direct materials) (To record assignment of factory labor) (To record assignment of manufacturing overhead) (To record completion of jobs) (To record sale of goods) (To record the cost of goods sold) Post the entries to Work in Process Inventory. (Post the entries to Work in Process Inventory in the order presented in the problem.) Work in Process Inventory 6/1 6/30 SHOW LIST OF ACCOUNTS June Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. Costs of unfinished Job: SHOW LIST OF ACCOUNTS Direct Materials $ Prepare a cost of goods manufactured schedule for June. CASE INC. Cost of Goods Manufactured Schedule + Direct Labor $ + Manufacturing Overhead $ = $ Click if you would like to Show Work for this question: Open Show Work
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