Analyzing Manufacturing Cost Accounts Fire Rock Company manufactures designer paddle boards in a wide variety of sizes and styles. The following incomplete ledger accounts refer to transactions that are summarized for June: Materials June 1 Balance 33,000 une 30 Requisitions June 30 Purchases 132,500 Work in Process (B)June 30 June 1 June 30 June 30 June 30 Balance Material:s Direct labor Factory overhead applied Completed jobs Finished Goods June 1 Balance oJune 30 Cost of goods sold June 30 Completed jobs Wages Payable une 30 Wages incurred 117,500 Factory Overhead June 1 June 30 une 30 June 30 Balance Indirect labor Indirect materials Other overhead 21,300June 30 Factory overhead applied 17,600 72,000 In addition, the following information is available a. Materials and direct labor were applied to six jobs in July Job No Style Quantity Direct Materials T100 T200 T400 S200 T300 S100 Total 230 380 190 260 160 130 1,350 $25,380 36,280 14,430 37,180 20,160 7,560 $140,990 Direct Labor $17,000 24,000 8,000 26,000 15,000 4,000 $94,000 201 202 203 204 205 206 b. Factory overhead is applied to each job at a rate of 140% of direct labor cost. c. The June 1 Work in Process balance consisted of two jobs, as follows: ob No Style Work in Process, June1 201 202 Total T100 $6,500 14,800 $21,300 T200 d. Customer jobs completed and units sold in July were as follows: ob No. Style Completed in July Units Sold in July 201 T100 202 T200 203 T400 204 S200 205 T300 206 S100 184 304 0 218 133 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 "O". Enter all amounts as positive numbers. June 1 Work in Process Direct Direct Factory Job No. Quantity Total Cost Unit Cost Units Sold Cost of Goods Sold Materials Labor Overhead June 1 Work in Process Direct Direct Factory Overhead ob No Quantity Total Cost Unit Cost Units Sold Cost of Goods Sold Materials Labor No. 201 No. 202 No. 203 No. 204 No. 205 No. 206 Tota $ 6,500 25,380 $17,000 24,000 8,000 26,000 15,000 4,000 94,000 36,280 14,430 37,180 20,160 7,560 140,990 14,800 $21,300 Accounting numeric field 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 June 30 balances for each of the inventory accounts and factory overhead. Use the minus sign to indicate any credit balances Materials Work in Process: Finished Goods: Factory Overhead Analyzing Manufacturing Cost Accounts Fire Rock Company manufactures designer paddle boards in a wide variety of sizes and styles. The following incomplete ledger accounts refer to transactions that are summarized for June: Materials June 1 Balance 33,000 une 30 Requisitions June 30 Purchases 132,500 Work in Process (B)June 30 June 1 June 30 June 30 June 30 Balance Material:s Direct labor Factory overhead applied Completed jobs Finished Goods June 1 Balance oJune 30 Cost of goods sold June 30 Completed jobs Wages Payable une 30 Wages incurred 117,500 Factory Overhead June 1 June 30 une 30 June 30 Balance Indirect labor Indirect materials Other overhead 21,300June 30 Factory overhead applied 17,600 72,000 In addition, the following information is available a. Materials and direct labor were applied to six jobs in July Job No Style Quantity Direct Materials T100 T200 T400 S200 T300 S100 Total 230 380 190 260 160 130 1,350 $25,380 36,280 14,430 37,180 20,160 7,560 $140,990 Direct Labor $17,000 24,000 8,000 26,000 15,000 4,000 $94,000 201 202 203 204 205 206 b. Factory overhead is applied to each job at a rate of 140% of direct labor cost. c. The June 1 Work in Process balance consisted of two jobs, as follows: ob No Style Work in Process, June1 201 202 Total T100 $6,500 14,800 $21,300 T200 d. Customer jobs completed and units sold in July were as follows: ob No. Style Completed in July Units Sold in July 201 T100 202 T200 203 T400 204 S200 205 T300 206 S100 184 304 0 218 133 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 "O". Enter all amounts as positive numbers. June 1 Work in Process Direct Direct Factory Job No. Quantity Total Cost Unit Cost Units Sold Cost of Goods Sold Materials Labor Overhead June 1 Work in Process Direct Direct Factory Overhead ob No Quantity Total Cost Unit Cost Units Sold Cost of Goods Sold Materials Labor No. 201 No. 202 No. 203 No. 204 No. 205 No. 206 Tota $ 6,500 25,380 $17,000 24,000 8,000 26,000 15,000 4,000 94,000 36,280 14,430 37,180 20,160 7,560 140,990 14,800 $21,300 Accounting numeric field 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 June 30 balances for each of the inventory accounts and factory overhead. Use the minus sign to indicate any credit balances Materials Work in Process: Finished Goods: Factory Overhead