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 31 Requisitions Materials 29,000 May 31 116,500 Balance Purchases Work in Process (b) 31 May 1 Completed jobs 31 Balance Materials Direct labor Factory overhead applied OSO 31 Finished Goods O May 31 Cost of goods sold May 1 31 Balance Completed jobs Wages Payable Wages Payable May 31 Wages incurred 123,800 May 1 Factory overhead applied Balance Indirect labor Indirect materials Other overhead Factory Overhead 21,400 May 31 (h) 15,500 110,900 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 Materials Direct Labor 101 AF1 230 370 $21,920 28,540 $17,000 24,000 102 AF3 14,400 VY1 VY2 AF4 36,890 15,300 6,900 10,000 31,000 14,000 3,000 100 ciated with each letter and complete the following table. If required, round amounts to the nearest dollar. If an punts as positive numbers. Cost of Goods Sold Direct Materials Direct Labor Factory Overhead Total Cost Unit Cost Units Sold $ 21,920 $ 17,000 28,540 24,000 14,400 10,000 36,890 31,000 15,300 14,000 3,000 6,900 $123,950 00 $99,000 $ $ 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 31 Requisitions Materials 29,000 May 31 116,500 Balance Purchases Work in Process (b) 31 May 1 Completed jobs 31 Balance Materials Direct labor Factory overhead applied OSO 31 Finished Goods O May 31 Cost of goods sold May 1 31 Balance Completed jobs Wages Payable Wages Payable May 31 Wages incurred 123,800 May 1 Factory overhead applied Balance Indirect labor Indirect materials Other overhead Factory Overhead 21,400 May 31 (h) 15,500 110,900 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 Materials Direct Labor 101 AF1 230 370 $21,920 28,540 $17,000 24,000 102 AF3 14,400 VY1 VY2 AF4 36,890 15,300 6,900 10,000 31,000 14,000 3,000 100 ciated with each letter and complete the following table. If required, round amounts to the nearest dollar. If an punts as positive numbers. Cost of Goods Sold Direct Materials Direct Labor Factory Overhead Total Cost Unit Cost Units Sold $ 21,920 $ 17,000 28,540 24,000 14,400 10,000 36,890 31,000 15,300 14,000 3,000 6,900 $123,950 00 $99,000 $ $