Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

(38) Wisin & Yandel - Te Sien 4 X CH 15 Homework m/courses/49804/assignments/5631886 Case Inc. is a construction company specializing in custom patios. The patios

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
(38) Wisin & Yandel - Te Sien 4 X CH 15 Homework m/courses/49804/assignments/5631886 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 $3,800 Manufacturing Overhead Applied $35,800 Work in Process Inventory $4,800 Manufacturing Overhead Incurred $29,800 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Rodgers Stevens Linton Direct materials $500 $800 $800 Direct labor 200 500 500 Manufacturing overhead 250 625 625 $950 $1,925 $1.925 During June, raw materials purchased on account were $4,700, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $900 and miscellaneous costs of $400 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. D (38) Wisin & Yandel - Te Sien 4 X CH 15 Homework courses/49804/assignments/5631886 - $950 $1,925 $1,925 During June, raw materials purchased on account were $4,700, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $900 and miscellaneous costs of $400 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Customer Job Materials Requisition Slips Time Tickets Rodgers $800 $800 Koss 2,000 800 Stevens 400 300 Linton 1,200 1,200 Rodgers 300 400 4,700 3,500 General use 1,300 1,100 $6,000 $4,600 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 $19,900. Each customer paid in full. 15 Homework + "courses/49804/assignments/5631886 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 June >

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Handbook On Energy Conservation And Energy Auditing A Practical Guide For Energy Management

Authors: Divyabharathi R., Subramanian P.

1st Edition

B0CH25MFSP, 978-6206755623

More Books

Students also viewed these Accounting questions

Question

mple 10. Determine d dx S 0 t dt.

Answered: 1 week ago

Question

b. What groups were most represented? Why do you think this is so?

Answered: 1 week ago