Analyzing Manufacturing Cost Accounts Clapton Company manufactures custom guitars in a wide variety of styles. The following incomplete ledger accounts refer to transactions that are summarized for May May 1 Balance Purchases Materials 26,400|May 31 106,000 Requisitions (a) Work in Process (1 May 1 Completed jobs ( 31 Balance Materials Direct labor Factory overhead applied 31 31 (0) Finished Goods May 31 Cost of goods sold May 1 31 Balance Completed jobs Wages Payable May 31 Wages incurred 116,300 May 1 Factory overhead applied Balance Indirect labor Indirect materials Other overhead Factory Overhead 23,600 May 31 (h) 14,100 101,000 31 31 In addition, the following information is available: a. Materials and direct labor were applied to the following jobs in May: Job No. Style Quantity Direct Labor Direct Materials 101 AF1 230 $21,090 32,990 $18,000 27,000 102 AF3 410 103 AF2 170 7,000 10,170 27,180 104 VY1 240 105 VY2 160 23,000 15,000 3,000 15,500 106 AF4 110 5,870 Total 1,320 $112,800 $93,000 b. Factory overhead is applied to each job at a rate of 170% of direct labor cost. C. The May 1 Work in Process balance consisted of two jobs, as follows: Work in Process, May 1 Job No. Style b. Factory overhead is applied to each job at a rate of 170% of direct labor cost. c. The May 1 Work in Process balance consisted of two jobs, as follows: Job No. Style 101 AF1 Work in Process, May 1 $6,900 16,700 $23,600 102 AF3 Total d. Customer jobs completed and units sold in May were as follows: Completed in May Units Sold in May Job No. Style 101 AF1 X 184 > 102 AF3 328 103 AF2 0 104 VY1 202 105 VY2 133 106 AF4 Required: 1. Determine the missing amounts associated with each letter and complete the following table. If required, round amounts numbers. Vys TOS TOS : 202 333 wa Required 1. Determine the mounted with chatter and consite the following table if required, and sent to the art dan tahan numbers Job No. May Werk in Proces 36.900 Quantity cost of Gold Direct Labor 318.000 Factory Overhead Total Cost Unit Cout United No. 103 e 102 16.700 Direct Materials $ 21,090 2005 10,170 27.156 NO103 7,000 N. 104 No. 105 15.500 25,000 35,000 3.000 No. 106 5.870 TOLI 323,600 $112.000 599,000 a. Material Requisitions Chapter 19 Homework eBook Print Item No. 106 5,870 3,000 Total $23,600 $112,800 $93,000 a. Materials Requisitions $ b. Work in Process Beginning Balance $ c. Direct Materials $ d. Direct Labor $ e. Factory overhead applied $ f. Completed jobs $ g. Cost of goods sold $ h. Indirect labor 2. Determine the May 31 balances for each of the inventory accounts and factory overhead. Materials Work in Process $ Finished Goods ta Factory Overhead $
