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 sum May 1 Materials 31,600 May 31 126,800 Requisitions Balance Purchases (a) 31 Work in Process May 1 ( 11 Completed jobs (0) 31 Balance Materials Direct labor Factory overhead applied 31 (d) ( 31 Finished Goods May 31 Cost of goods sold (0) May 1 31 Balance Completed Jobs Wages Payable eBook Wages Payable May 31 Wages incurred 126,300 Factory Overhead (e) May 1 Balance Factory overhead applied 31 Indirect labor 22,600 May 31 (h) 16,900 100,700 31 Indirect materials Other overhead 31