Analyzing Manufacturing Cost Accounts Big Wave Company manufactures surf boards in a wide variety of sizes and styles. The following in complete ledger accounts refer to transactions that are summarized for July: July 1 July 31 Requisitions Materials 39,800July 31 159,700 Balance Purchases Work in Process (B) puly 31 Completed jobs (F) July 1 July 31 July 31 July 31 Balance Materials Direct labor Factory overhead applied @ Finished Goods opuly 31 Cost of goods sold July 1 July 31 Balance Completed jobs Wages Payable July 31 Wages incurred 126,300 Factory Overhead 23,100uly 31 Factory overhead applied (E) July 1 July 31 July 31 July 31 Balance Indirect labor Indirect materials Other overhead 21,200 64,200 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 Style X-10 X-20 X-50 T-20 Quantity 230 420 Direct Materials $29,540 43,600 17,200 47,870 23,380 8,320 Direct Labor $17,000 26,000 8,000 30,000 16,000 4,000 X-40 T-10 Total 310 170 120 1,450 $169,910 $ 101,000 b. Factory overhead is applied to each job at a rate of 130% 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 $6,800 Job 22 X-20 16,300 Total $23,100 d. Customer jobs completed and units sold in July were as follows: Job No. Style ... Completed in Style July Comple Units Sold in July 184 x x 336 No. 21 X-10 No. 22 X-20 No. 23 X-50 No. 24 T-20 No. 25 X-40 No. 26 T-10 x x 141 1. 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 amounts as positive numbers. Job No. Quantity Direct Materials Direct Labor Factory Overhead Total Cost Unit Cost Units Sold Cost of Goods Sold July 1 Work in Process $ 6,800 16,300 No. 21 $ 29,540 43,600 $ 17,000 26,000 8,000 No. 23 17,200 30,000 No. 25 47,870 23,380 8,320 169,910 No. 26 Total 16,000 4,000 101,000 C $0 [ $ $23,100 a. Materials Requisitions $0 b. Work in Process Beginning Balance $ c. Direct Materials d. Direct Labor $ e. Factory overhead applied $ f. Completed jobs $0 g. 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 balances. Materials: Work in Process: Finished Goods: Factory Overhead