Analyzing Manufacturing Cost Accounts Big Wave Company manufactures surf boards in a wide variety of sizes and styles. The following incomplete ledger accounts refer to transactions that are summarized for July: Materials July 1 July 31 Balance 33,000July 31 Requisitions Purchases 132,500 Work in Process July 1 July 31 July 31 July 31 Balance Materials Direct labor Factory overhead applied (B)July 31 Completed jobs Finished Goods July 1 July 31 Balance oJuly 31 Cost of goods sold Completed jobs Wages Payable uly 31 Wages incurred 121,300 Factory Overhead July 1 July 31 July 31 July 31 22,000 July 31 Factory overhead applied Balance Indirect labor Indirect materials Other overhead 17,600 84,900 In addition, the following information is available: a. Materials and direct labor were applied to six jobs in July: Job No No. 21 No. 22 No. 23 No. 24 No. 25 No. 26 Direct Labor $16,000 25,000 7,000 28,000 16,000 5,000 $97,000 le Quantity Direct Materials Sty X-10 X-20 X-50 T-20 X-40 T-10 Total 210 400 170 270 180 140 1,370 $24,050 37,000 13,100 36,380 23,000 7,380 $140,910