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: Materials May 1 31 Balance Purchases 34,200 May 31 Requisitions 137,300 Work in Process May 1 Balance (b) 31 31 Materials (c) 31 Direct labor (P) 31 Factory overhead applied (0) Completed jobs (a) Finished Goods May 1 31 Balance May 31 Cost of goods sold (9) Completed jobs Wages Payable May 31 Factory Overhead Wages incurred 121,300 May 1 31 Balance Indirect labor 22,900 May 31 Factory overhead applied 31 Indirect materials (h) 18.300 Other chest a. Materials and direct labor were applied to the following jobs in May: Job No. Style Quantity Direct Materials Direct Labor 101 AF1 230 $26,950 $18,000 102 AF3 410 39,270 26,000 103 AF2 180 13,080 7,000 104 VY1 240 32,880 24,000 105 VY2 190 24,630 18,000 106 AF4 140 9,300 4,000 Total 1,390 $146,110 $97,000 b. Factory overhead is applied to each job at a rate of 140% of direct labor cost. c. The May 1 Work in Process balance consisted of two jobs, as follows: Work in Process, Job No. Style May 1 101 AF1 $6,900 102 AF3 16,000 Total $22,900 d. Customer jobs completed and units sold in May were as follows: Completed in Units Sold Job No. Style May in May 101 AF1 184 102 AF3 328 103) AF2 0 104 VY1 202 102 AF3 328 103 AF2 104 VVS 202 105 Vy2 150 106 AF4 Required: 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 zers, enter le "0". Enter all amounts as positive numbe Job No. Quantity May 1 Work in Process No. 101 No. 102 $6,900 16,000 Direct Materials $26,950 Direct Labor $18,000 Factory Overhead Cost of Goods Sold Total Cost Unit Cost Units Sold 39,270 26,000 No. 103 13.000 7,000 No. 104 32,800 24,000 No.105 24.630 18,000 No. 106 9.300 4,000 Titl $22,900 $140.110 $97,000 a. Materials Requisitions 45,250 X b. Work in Process Beginning Balance c. Direct Materials i 4. Direct Labor Factory overhead applied 1. Completed jobs a. Materials Requisitions. 45,250 X b. Work in Process Beginning Balance c. Direct Materials i 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. Use the minus sign to indicate any credit balances. Materials Work in Process Finished Goods Factory Overhead 0000