a) Journalize June transactions
b) Post entries to Work In Process Inventory
c) Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs
d) Prepare a cost of goods manufactured schedule for June
Question 19 065/5 View Policies Show Attempt History Current Attempt in Progress Bonita 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 Bonita Inc. contains the following data Raw Materials Inventory $3,900 $5,675 Manufacturing Overhead Applied Manufacturing Overhead Incurred $30,700 $32,000 Work in Process Inventory 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 $1.000 Direct labor 400 500 600 Manufacturing overhead 750 500 625 $1,400 $1,925 $2.350 During June, raw materials purchased on account were $5,000, and all wages were paid Additional overhead costs consisted of depreciation on equipment $1,000 and miscellaneous costs of $400 incurred on account During June, raw materials purchased on account were $5,000, and all wages were paid. Additional overhead costs comsisted of depreciation on equipment $1,000 and miscellaneous costs of $400 incurred on account. Asummary of materials requisition slips and time tickets for June shows the following Customer Job Materials Requisition Slips Time Tickets Rodgers $900 $900 Koss 1,800 800 Stevens 600 400 Linton 1,400 1,300 Rodgers 300 400 5,000 3,800 General use 1,400 1,200 $6,400 $5,000 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 $20,800. Each customer paid in full. (a) Your answer is partially correct. 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)