Amount De Cost Sheets structions Yurman Inc uses a job-order costing system. During the month of May, the following transactions occurred May Purchased materials on account for $29.670. Requisitioned materials totaling S24 500 for use in production of the total 59.200 was for Job 58 $8.900 for Job 59, and the remainder for Job 60 Incurred direct labor for the month of $32.400 with an average wage of $18 per hour. Job 58 used 800 hours Job 59, 600 hours and Job 60 400 hours. Incurred and paid actual overhead of $17.880 (credit Various Payables). Charged overhead to production at the rate of $4.80 per direct labor hour Completed and transferred Jobs 58 and 59 to Finished Goods Sold Job 57 (see beginning balance of Finished Goods) and Job 58 to their respective clients on account for a price of cost plus 40%. MILIE (Appendix 4A) Journal Entries Instructions Chart of Accounts Amount Descriptions Journal Job-Order Cost Sheets 7 Instructions Beginning balances as of May 1 were Materials $2,300 Work in Process Finished Goods (Job 57) 25,600 Required: 1. Prepare journal entries for transactions from May 1 through 31. 2. Prepare brief job-order cost sheets for Jobs 58, 59, and 60. 3. Calculate the ending balance of Raw Materials 4. Calculate the ending balance of Work in Process 5. Calculate the ending balance of Finished Goods. (Appendix 4A) Journal Entries Instructions Chart of Accounts Amount Descriptions Journal Job-Order Cost Sheets En Chart of Accounts CHART OF ACCOUNTS Yurman Inc. General Ledger REVENUE ASSETS 110 Cash 120 Accounts Receivable 131 Supplies 410 Sales Revenue 132 Prepaid Insurance 141 Raw Materials 142 Work in Process 143 Overhead Control 144 Finished Goods 170 Land EXPENSES 510 Cost of Goods Sold 520 Insurance Expense 530 Wages Expense 540 Supplies Expense 550 Utilities Expense 560 Depreciation Expense Check My Work u Lilles . . instructions Chart of Accounts Amount Descriptions G Journal Job-Order Cost Sheets Chart of Accounts 142 Work in Process 143 Overhead Control 144 Finished Goods 530 Wages Expense 540 Supplies Expense 550 Utilities Expense 560 Depreciation Expense 590 Miscellaneous Expense 170 Land 180 Equipment 181 Accumulated Depreciation LIABILITIES 210 Accounts Payable 220 Wages Payable 230 Various Payables EQUITY 310 Common Stock 320 Retained Earnings Check My Work ournal JobOrder Co Amount Descriptions Refer to the list below for the exact wording of text items within your job-order cost sheets Amount Descriptions Applied overhead Direct labor Direct materials Totat 4) Journal Entries Instructions Chart of Accounts Amount Descriptions Journal Job-Order Cost Sheets An Journal Ending Balances Re 1. Prepare journal entries for transactions from May 1 through 31. Refer to the Chart of Accounts for the exact wording of account tities PAGE GENERAL JOURNAL DATE ACCOUNT POST, REF Check My Work All work saved. avel E SPN Fantasy Jobs Netflix eBook V VUDU Resources Calculator B! Print Item (Appendix 4A) Journal Entries Instructions Chart of Accounts Amount Descriptions Journal Job-Order Cost She Art Journal Check My Work All work saved. Save and sendix 4A) Journal Entries instructions Chart of Accounts Amount Descriptions Journal Job-Order Cost Sheets Ending Balances Job-Order Cost Sheets 2. Prepare job-order cost sheets for Jobs 58. 59, and 60. Refer to the list of Amount Descriptions for the exact wording of text items within your job-order cost sheets. All amount cells must have an entry, enter zeros as needed Yurman Inc. Job-Order Cost Sheets For the Month of May Job 58 JOBS Job 60 (Amount Description) neck My Work All work saved. (Appendix 4A) Journal Entries Instructions Chart of Accounts Amount Descriptions Journal Job-Order C Ending Balances 3. Calculate the ending balance of Raw Matenals. Raw Materials ending balance is $ 4. Calculate the ending balance of Work in Process Work in Process ending balance is $ 5. Calculate the ending balance of Finished Goods Finished Goods ending balance is $