Analyting Manufacturing Cost Accounts Fire Hock Company manufactures designer paddle boards in a wide variety of sizes and styles. The following incomplete ledger accounts refer to transactions that are summarized for Sunet Balance Purchases Materials 27.200 une 30 109,400 Requisitions (A) June 30 Work in Process June 1 June 30 Completed jobs (7) Balance Materials Direct labor Factory overhead applied (une 30 (C) ) (0 June 30 June 30 ) Finished Goods June 1 June 30 Balance Completed jobs Cost of goods sold lune 30 (5) (G) Wages Payable June 30 Wages incurred Factory Overhead 20,300|iune 30 Factory overhead applied () My Chapter 16 Homework (Application) eBook Factory Overhead Factory overhead applied (E) June 1 June 30 June 30 June 30 Balance Indirect labor Indirect materials Other overhead 20,300 June 30 (H) 14,500 101.000 In addition, the following information is available: a. Materials and direct labor were applied to six jobs in July Job No. Style Quantity Direct Materials 201 T100 200 $20,500 202 T200 370 29,050 203 T400 170 11,190 204 S200 280 32,380 205 T300 170 18,170 205 S100 100 5,100 Total 1,290 $116,390 Direct Labor $15,000 23,000 7,000 27,000 16,000 3,000 $91,000 b. Factory overhead is applied to each job at a rate of 170% of direct labor cost. c. The June 1 Work in Process balance consisted of two jobs, as follows: Job No. Style Work in Process, June 1 $6,000 14,300 $20,300 201 T100 202 T200 Total Check My Work Chapter 10 Homework (Application) who d. Customers completed and united in July were as follows Job No Style Completed in July Units sold in July 201 T100 160 202 203 7200 1400 0 235 204 5200 X X 141 205 206 7300 5100 0 1. Determine the mining wounts associated with each letter and comlete the following tabit. If required, round amounts to the nearest dotar. If an answer is res, enter into Enteral amounts o portive numo Job No. Quantity June 1 Work in Process Direct Materials Direct Labor Factory Overhead Total Cost Unik Coat Units Sold Cost of Goods Sold $ 20.500 No. 201 No 202 $ 6,000 14,300 29,050 $ 15,000 23,000 7.000 No 201 No 204 27,000 11,190 32,380 16,170 5.100 No 205 16.000 3,000 in 200 Tour $20,300 116.190 91,000 Prev llock Chapter 16 Homework (Application) Na, 203 11,190 7.000 No 204 32.380 No. 205 18,170 5,100 27,000 16,000 3,000 No. 205 Total $20,300 116,390 91,000 a. Materials Requisitions h. Work in Process Beginning Balance c. Direct Materials d. Direct Labor e. Factory overhead applied 1. Completed jobs 9. Cost of goods sold h. Indirect labor 2. Determine the June 30 balances for each of the inventory accounts and factory overhead. Use the minus sign to indicate any credit balances Material: Work in Process: Finished Goods Factory Overhead: Check My Work
