Analyzing Manufacturing Cost Accounts daptor Company manufactures custom guitars in a wide variety of the followidocompleted accounts refer to transactions that are sured for Hay! Materials May 1 Balance Purchases 105.600 Mavi 300,000 Regut (ay May ! 31 31 31 Completed Jobs Work in Process (b) May 31 el () Balance Materials Direct labor Factory overhead applied May 1 31 Balance Completed Jobs Finished Goods olMay 31 ( Cost of goods sold Wages Payable May as Wages incurred 390.000 Factory Overhead M Balance 26.400 May 31 Factory overhead applied 21 Indirect labor ch 31 Indirect materials 25,400 31 Other head 122.500 In addition, the following information is available a ter and area labor were applied to the following job In My ob Ne Style Quantity Direct Materials Direct Labor 101 AFE 230 $82.00 350.400 a. Materials and direct labor were applied to the following jobs in May: Job No. Style Quantity Direct Materials Direct Labor 102 AFE 330 $ 82,500 $ 59,400 102 AF3 350 105.400 72,600 103 AF2 500 132,000 110,000 104 VY: 400 66,000 39,600 105 VY2 060 118,800 66,000 106 AF4 330 66,000 30.800 Total 2.600 $570,700 $375,400 b. Factory overhead is applied to each job at a rate of 50% of direct labor cost, c. The May I Work in Process balance consisted of two jobs, as follows: Work in Process, Job No. Style May 1 101 AFE $26,400 102 AF3 46,000 Total $72,400 d. Customer jobs completed and units sold in May were as follows: Completed Units Sold Job No. Style In May in May 101 AF1 X 264 102 A3 360 100 AF2 104 VY1 384 105 VY2 530 106 A4 0 Required 1. Determine the missing amounts associated with each letter by completing the table below. It required, round your unit cost to two decimal places. If an anterior Interamat 1. Determine the meting amounts associated with each letter by completing the table below. It required, round your unit cost to two decimal places. If an answer is, enter into Entrants posted May 1 Work in Process Quan tity Job No. Style Direct Labor Direct Materials 182.500 Factory Overhead Total Cost Unit Cost Units Sole Cost of Goods Sold NO 101 AFT 330 $99.400 No. 102 AB 380 72.000 105.400 132.000 No. 103 12 500 No. 104 WY 110.000 39.600 400 66.000 No 105 W2 600 11110 66.000 No. 106 A4 330 0.000 30.000 2.000 570.700 20,400 #. Materials Helsitions B. Work in Process Beginning Balance c. Direct Materials 4. Direct Labor e. Factory overhead applied 6. Completed jobs 6. Cost of goods sold 1. Indicator 2. Determine the May 31 balance for each of the inventorns and factory overhead Enteral amount as the numbers Work in Proces Freshed onde Factory Overhead no
