Analyzing Manufacturing Cost Accounts

Fire Rock Company manufactures designer paddle boards in a wide variety of sizes and transactions that are summarized for June:

Materials

$\backslash$table$[[$June $1$ Balance,$34,900,$June $30$ Requisitions$],[$June $30$ Purchases,$140,300,]]$

Work in Process

June $1$ Balance

$($B$)$ June $30$ Completed jobs

June $30$ Materials

$($C$)$

June $30$ Direct labor

$($D$)$

June $30$ Factory overhead applied

$($E$)$

Finished Goods

Jure i Balance

Jure $30$ Completed Jobs

$($F$)$ June $30$ Cost of goods sold

Finished Goods

$\backslash$table$[[$June $1$ Balance,$($F$),],[$June $30$ completed jobs $30$ Cost of goods sold,,$]]$

$\backslash$table$[[$Wages Payable$],[,,$June $30$ Wages incurred,$130,000],[$Factory Overhead$],[$June $1$ Ealance,$22,800,$June $30$ Factory overhead applled,$(E)$

Iuacturing Cest Atcountspany nanufactures desaner paddie boards in a wide varnety of sizes and stytes. $1$taer eceounts refer to transattiens that are sumnarized for June:asest laborry overthead appliedleted jobst labort materialsoverhesd$190430200320180150$following informat on is available:$$22,10039,22015,000$Materials$42,24034,900$ June $30$ Requistions$140,30021,400$Work in Process$9,250($u$)$ June $30$ Corpleted Jobs$($CI direct labar were a$$plied to six jobs in June:Quantity Direct Haterials Direct Labor$($D$)$Factory Overhead$($E$)|$Finished Goodso June $30$ Cost of goods soldIF$)$Wages Payable$($H$)$June $30$ Wages inoured$22,8$Da June $30$ Factory overhead applied$18,70$a$92,000|$$$14,00028,0008,00032,00017,0005,000$Jab Na$.$ Shie$201$otaSah No$.$ Style$202$TID$0$Lstm s gietnt und urts sct in June wer fnlcwtio,$201202$T:$002005200$Work In PrncessJune $1$Completed Units Solt$1.$ Detrnine te eg amunts astcciatt wth eath ietter and cnmptete the fnitwing tatie, If required, roundnounts to the nearest dallar, an anwer is tera, erter n $"0",$ Erter al acurts as potve nubers.D$,$ Dirt LaburMateralsin June in JuneJune $1$WorkInJobNo, Quantity Prucess MaterlalsHaterials Requisitions$$23,800.$ Completed jobsK, Endirect labor$5\mathrm{.}60012\mathrm{.}200$Work YDCeSs$$5,600-$ Factery overhead appliedG. Cost ef goods sold$17200$Finshed GondsFtory Ovetead $J$44$B$.$ Work in Process Beginning Balanca $$-$Direct Haterials$49$Direct$$22,10039,22015\mathrm{.}000$DirectLabar$$14,00020,0008,000$FactoryOvertead$2.$ Determne the June $30$ thaiances f each of the invertory accourts end fatary Gverhead. Use the mrus sgn toindicate ay cedt baancesTotal Unit UnitsCost ofGoods SaldCost Cost Sold