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 37,700 May 31 151,500 Requisitions 31 Work in Process (b) 31 May 1 Completed jobs Balance Materials 31 Direct labor Factory overhead applied ) 31 Finished Goods of May 31 Cost of goods sold Balance Completed jobs Wages Payable May 31 Wages incurred 121,300 Factory Overhead 21,800 May 31 Factory overhead applied May 1 31 (h) Balance Indirect labor Indirect materials Other overhead 31 20,200 62,200 In addition, the following information is available: a. Materials and direct labor were applied to the following jobs in May Job No.' 101 Quantity 200 Direct Labor $15,000 Style AF1 AF3 AF2 102 410 26,000 7,000 Direct Materials $24,600 41,560 15,220 46,940 26,380 6,500 $161,200 VY1 30,000 16,000 VY2 AF4 180 100 1,380 3,000 Total $97,000 b. Factory overhead is applied to each job at a rate of 130% 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 101 AF1 $5,900 102 AF3 15,900 $21,800 Total d. Customer jobs completed and units sold in May were as follows: Units Sold in May Job No. Completed in May Style 101 160 AF1 AF3 328 AF2 VY1 260 VY2 149 AF4 Required: 1. Determine the missing amounts associated with each letter and complete the following table. If required, round amounts to numbers. If an answer is zero, enter in "0". Enter all amounts as positive May 1 Work in Process Cost of Goods Sold Direct Materials Direct Labor Quantity Total Cost Units Sold $24.600 $ 15,000 $5,900 15,900 41,560 Job No. No. 101 No. 102 No. 103 No. 104 No. 105 No. 106 26,000 7.000 15,220 46,940 30,000 16.000 6.500 $161,200 $21,800 Total $97,000 a. Materials Requisitions $ b. Work in Process Beginning Balance c. Direct Materials $ d. Direct Labor $ e. Factory overhead applied $ f. Completed jobs s 9. 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 balanc Materials Work in Process Finished Goods Factory Overhead