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 TransactionDebit amountTransactionCredit amount June 1 Balance35,600June 30 Requisitions(A) June 30 Purchases143,100

Work in Process TransactionDebit amountTransactionCredit amount 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 TransactionDebit amountTransactionCredit amount June 1 Balance0June 30 Cost of goods sold(G) June 30 Completed jobs(F)

Wages Payable TransactionDebit amountTransactionCredit amount June 30 Wages incurred123,800

Factory Overhead TransactionDebit amountTransactionCredit amount June 1 Balance22,000June 30 Factory overhead applied(E) June 30 Indirect labor(H) June 30 Indirect materials19,000 June 30 Other overhead75,700

In addition, the following information is available:

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

Job No.StyleQuantityDirect MaterialsDirect Labor 201T100190$23,310$14,000 202T20041039,34027,000 203T40022016,0209,000 204S20029040,97028,000 205T30019026,27017,000 206S1001106,3504,000 Total 1,410$152,260$99,000

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:

Job No.StyleWork in Process, June 1 201T100$5,600 202T20016,400 Total $22,000

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

Job No.StyleCompleted in JuneUnits Sold in June 201T100X152 202T200X328 203T400 0 204S200X244 205T300X158 206S100 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.QuantityJune 1 Work in ProcessDirect MaterialsDirect LaborFactory OverheadTotal CostUnit CostUnits SoldCost of Goods Sold No. 201fill in the blank 1 $5,600$23,310$14,000$fill in the blank 2 $fill in the blank 3 $fill in the blank 4 fill in the blank 5 $fill in the blank 6 No. 202fill in the blank 7 16,40039,34027,000fill in the blank 8 fill in the blank 9 fill in the blank 10 fill in the blank 11 fill in the blank 12 No. 203fill in the blank 13 16,0209,000fill in the blank 14 fill in the blank 15 fill in the blank 16 fill in the blank 17 No. 204fill in the blank 18 40,97028,000fill in the blank 19 fill in the blank 20 fill in the blank 21 fill in the blank 22 fill in the blank 23 No. 205fill in the blank 24 26,27017,000fill in the blank 25 fill in the blank 26 fill in the blank 27 fill in the blank 28 fill in the blank 29 No. 206fill in the blank 30 6,3504,000fill in the blank 31 fill in the blank 32 fill in the blank 33 fill in the blank 34 Totalfill in the blank 35 $22,000$152,260$99,000$fill in the blank 36 $fill in the blank 37 $fill in the blank 38

Line Item DescriptionAmount 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.

Inventory AccountsAmount Materials$fill in the blank 47 Work in Process$fill in the blank 48 Finished Goods$fill in the blank 49 Factory Overhead$fill in the blank 50