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:

1. Materials
   June 1	Balance	82,500	June 30	Requisitions	(a)
   30	Purchases	330,000

   Work in Process
   June 1	Balance	(b)	June 30	Completed jobs	(f)
   30	Materials	(c)
   30	Direct labor	(d)
   30	Factory overhead applied	(e)

   Finished Goods
   June 1	Balance	0	June 30	Cost of goods sold	(g)
   30	Completed jobs	(f)

   Wages Payable
   			June 30	Wages incurred	330,000

   Factory Overhead
   June 1	Balance	33,000	June 30	Factory overhead applied	(e)
   30	Indirect labor	(h)
   30	Indirect materials	44,000
   30	Other overhead	237,500

   In addition, the following information is available:

   1. Materials and direct labor were applied to the following jobs in June:

      Job No.		Style	Quantity		Direct Materials				Direct Labor
      201		T100	550			$55,000				$41,250
      202		T200	1,100			93,500				71,500
      203		T400	550			38,500				22,000
      204		S200	660			82,500				69,300
      205		T300	480			60,000				48,000
      206		S100	380			22,000				12,400
      		Total	3,720			$351,500				$264,450

   2. Factory overhead is applied to each job at a rate of 140% of direct labor cost.
   3. The June 1 Work in Process balance consisted of two jobs, as follows:

      Job No.	Style	Work in Process, June 1
      201	T100	$16,500
      202	T200	44,000
      Total		$60,500

   4. Customer jobs completed and units sold in June were as follows:

      Job No.	Style	Completed in June	Units Sold in June
      201	T100	X	440
      202	T200	X	880
      203	T400		0
      204	S200	X	570
      205	T300	X	420
      206	S100		0

   Required:

   1. Determine the missing amounts associated with each letter by completing the table below. If an answer is zero, enter in "0". Enter all amounts as positive numbers.

   Job No.	Quan- tity		June 1 Work in Process		Direct Materials		Direct Labor		Factory Overhead		Total Cost		Unit Cost		Units Sold		Cost of Goods Sold
   No. 201	550		$		$55,000		$41,250		$		$		$				$
   No. 202	1,100				93,500		71,500
   No. 203	550				38,500		22,000
   No. 204	660				82,500		69,300
   No. 205	480				60,000		48,000
   No. 206	380				22,000		12,400
   Total	3,720		$		$351,500		$264,450		$		$						$

   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.

   Materials	$
   Work in Process	$
   Finished Goods	$
   Factory Overhead	$