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 Balance 33,200 May 31 Requisitions 31 Purchases 133,300 May 1 Balance 31 Materials 31 Direct labor 31 Factory overhead applied May 1 31 Balance Completed jobs (a) Work in Process (b) 31 Completed jobs (1) (c) (d) (e) Finished Goods 0 May 31 Cost of goods sold Wages Payable Wages Payable May 31+ Wages incurred 120,000 Factory Overhead May 1 Balance 20,800 May 31 Factory overhead applied 31 Indirect labor (h) 31 Indirect materials 31 Other overhead 17,700 84,800 In addition, the following information is available: a. Materials and direct labor were applied to the following jobs in May: Direct Labor Job No. Style Quantity Direct Materials 101 AF1 200 $22,300 $14,000 102 AF3 390 36,050 24,000 103 AF2 210 14,860 8,000 104 VY1 290 39,150 29,000 105 VY2 170. 20,180 16,000 106 AF4 150 9,250 5,000 105 VY2 170 20,180 16,000 106 AF4 150 9,250 5,000 Total 1,410 $141,790 $96,000 b. Factory overhead is applied to each job at a rate of 150% 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 $5,700 102 AF3 15,100 Total $20,800 d. Customer jobs completed and units sold in May were as follows: Completed in Units Sold Job No. Style May in May 101 AF1 X 160 102 AF3 X 312 103 AF2 0 104 VY1 2441 105 VY2 141 104 VY1 244 105 106 VY2 141 AF41 0 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 zero, enter in "0". Enter all amounts as positive numbers. May 1 Work in Job No. Quantity Process Direct Materials Direct Labor Factory Overhead Total Cost Unit Cost No. 101 $5,700 $22,300 $ 14,000 No. 102 15,100 36,050 24,000 No. 103 14,860 8,000 No. 104 39,150 29,000 No. 105 No. 106 Total 20,180 16,000 9,250 5,000 $20,800 $141,790 $96,000 Total $20,800 $141,790 $96,000 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. Use the minus sign to indicate any credit balance Materials Work in Process Finished Goods Factory Overhead