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	32,400	June 30	Requisitions	(A)
June 30	Purchases	130,000

Work in Process
June 1	Balance	(B)	June 30	Completed jobs	(F)
June 30	Materials	(C)
June 30	Direct labor	(D)
June 30	Factory overhead applied	(E)

Finished Goods
June 1	Balance	0	June 30	Cost of goods sold	(G)
June 30	Completed jobs	(F)

Wages Payable
			June 30	Wages incurred	116,300

Factory Overhead
June 1	Balance	20,800	June 30	Factory overhead applied	(E)
June 30	Indirect labor	(H)
June 30	Indirect materials	17,300
June 30	Other overhead	81,200

In addition, the following information is available:

a. Materials and direct labor were applied to six jobs in June:

Job No.		Style	Quantity		Direct Materials				Direct Labor
201		T100	180			$19,100				$13,000
202		T200	400			37,400				25,000
203		T400	180			14,180				7,000
204		S200	270			36,180				27,000
205		T300	170			20,690				16,000
206		S100	150			10,750				5,000
Total			1,350			$138,300				$93,000

b. Factory overhead is applied to each job at a rate of 150% of direct labor cost.

c. The June 1 Work in Process balance consisted of two jobs, as follows:

Job No.	Style	Work in Process, June 1
201	T100	$5,100
202	T200	15,700
Total		$20,800

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

Job No.	Style	Completed in June	Units Sold in June
201	T100	X	144
202	T200	X	320
203	T400		0
204	S200	X	227
205	T300	X	141
206	S100		0

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 "0". Enter all amounts as positive numbers.

Job No.	Quantity	June 1 Work in Process		Direct Materials		Direct Labor		Factory Overhead		Total Cost		Unit Cost		Units Sold	Cost of Goods Sold
No. 201		$ 5,100		$ 19,100		$ 13,000
No. 202		15,700		37,400		25,000
No. 203				14,180		7,000
No. 204				36,180		27,000
No. 205				20,690		16,000
No. 206				10,750		5,000
Total		$20,800		$138,300		$93,000

a. Materials requisitions $fill in the blank 39

b. Work in process beginning balance $fill in the blank 40

c. Direct materials $fill in the blank 41

d. Direct labor $fill in the blank 42

e. Factory overhead applied $fill in the blank 43

f. Completed jobs $fill in the blank 44

g. Cost of goods sold $fill in the blank 45

h. Indirect labor $fill in the blank 46

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