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 a July 1 July 31 Balance Purchases Materials 34,200 puly 31 137,300 Requisitions (A) Work In Process July 1 Completed jobs (F) July 31 July 31 July 31 Balance Materials Direct labor Factory overhead applied (B)uly 31 (C) (D) Finished Goods opuly 31 Cost of goods sold (G) July 1 July 31 Balance Completed Jobs Wages Payable July 31 Wages incurred 118,800 Factory overhead applied July 1 July 31 July 31 Duly 31 Balance Indirect labor Indirect materials Other overhead Factory Overhead 20,400uly 31 (H) 18,300 73,300 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 Direct Labor No. 21 X-10 180 $14,000 No. 22 X-20 $20,940 37,600 380 24,000 No. 23 X-50 200 15,800 8,000 No. 24 T-20 310 42,700 30,000 No. 25 X-40 170 22,630 16,000 No. 26 T-10 100 6,400 3,000 Total 1,340 $146,070 $95,000 b. Factory overhead is applied to each job at I rate of 140% of direct labor cost. c. The July 1 Work in Process balance consisted of two jobs, as follows: Job No. Style Work in Process, July 1 Job 21 X-10 $5,400 15,000 Job 22 X-20 Total $20,400 d. Customer jobs completed and units sold in July were as follows: Job No. Style Completed in July Units Sold in July No. 21 X-10 144 No. 22 X-20 304 No. 23 X-50 0 No. 24 T-20 260 No. 25 X-40 141 Customer jobs completed and units sold in July were as follows: Job No. Style Completed in July Units Sold in July 144 No. 21 X-10 No. 22 X-20 No. 23 X-50 304 0 No 24 T-20 X 260 No. 25 X-40 141 No. 26 T-10 0 . Determine the missing amounts associated with each letter and complete the following table. If required, round amounts to the nearest dollar. If an answer is zero, enter in "0". Enter all amoun Job No. Quantity July 1 Work in Process Direct Materials Direct Labor Factory Overhead Total Cost Unit Cost Units Sold Cost of Goods Sold No. 21 180 $5,400 19,600 $ 20,940 37,600 $ 14,000 24,000 59,940 No. 22 333 380 144 15.000 33,000 110,200 No. 23 200 290 304 15,800 8,000 11,200 35,000 No. 24 310 0 30,000 42,000 0 42,700 22,630 114,700 No. 25 170 370 260 22,400 61,030 No. 26 100 16,000 3,000 359 6,400 141 4,200 13,600 Total 1,340 $20,400 146,070 95,000 0 $133,000 $394.470 a. Materials Requisitions 310 No. 24 42,700 30,000 42,000 37 114,700 170 No. 25 22,630 3 16,000 22,400 61,030 100 No. 26 6,400 3,000 4,200 13,600 Total 1,340 $20,400 146,070 95,000 133,000 $ 394,470 a. Materials Requisitions b. Work in Process Beginning Balance $ 20,400 c. Direct Materials 146,070 d. Direct Labor $ 95,000 e. Factory overhead applied $133,000 1. Completed jobs 117,600 x 9. Cost of goods sold h. Indirect labor 2. Determine the July 31 balances for each of the inventory accounts and factory overhead. Use the minus sign to indicate any credit balanc Materials: Work in Process: Finished Goods: Factory Overhead: Feedback