AutoSave 01 R 2 ExcelTemplateAssignment_Cho2 (1) . Protected View - Excel O Search File Home Insert Page Layout Formulas Data Review ViewH elp DYMO Label QuickBooks PROTECTED VIEW Be careful--files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enat X fr P2-3A Prepare entries for a job order cost system and cost of goods manufactured schedule 24. A B C D E F G H I J 1 [P2-3A Prepare entries for a job order cost system and cost of goods manufactured schedule 2 Case Inc. is a construction company specializing in custom patios. The patios are constructed of 3 concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2017, 4 the general ledger for Case Inc. contains the following data. 6 Raw Materials Inventory $4,200 Manufacturing Overhead Applied $32,640 7 Work in Process Inventory $5,540 Manufacturing Overhead Incurred $31,650 9 Subsidiary data for Work in Process Inventory on June 1 are as follows. Cost Element Direct materials Direct labor Manufacturing overhead Job Cost Sheets Customer Job Rodgers Stevens $800 540 400 675 $1,320 $2,015 $600 320 Linton $900 580 725 $2,205 _ 19] During June, raw materia's purchased on account were $4,900, and all wages were paid. Additional 20 overhead costs consisted of depreciation on equipment $900 and miscellaneous costs of $400 incurred 21 on account 22 A summary of materials requisition slips and time tickets for June show the following. Custo mer Job Rodgers Koss Stevens Linton Rodgers | 82.1 625 Materials Requisition slips $ 800 2,000 500 1,300 300 P2-3A P2-SAN CD21 Time tickets $850 800 360 1,200 390 E2-9 E O Type here to search AutoSave O R ExcelTemplateAssignment Ch02 (1) . Protected View - Excel Search File Home Insert Page Layout Formulas Data Review View Help DYMO Label QuickBooks 1) PROTECTED VIEW Be careful--files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View Enable Editin f C 4_A B Linton Rodgers P23A Prepare entries for a job order cost system and cost of goods manufactured schedule D E F G H I J 1,300 1,200 300 390 Om General use 4,900 1,500 6,400 3,600 1,200 $4,800 $ 34 Overhead was charged to jobs at the same rate of $1.25 per dollar of direct labor cost. The patios for 35 customers Rodgers, Stevens, and Linton were completed during June and sold for a total of $18,900. 36 Each customer paid in full. 37 38 Instructions 39(a) Journalize the June transactions: (1) for purchase of raw materials, factory labor costs incurred, 40 and manufacturing overhead costs incurred; (2) assignment of direct materials, labor, and overhead to 41 production; and (3) completion of jobs and sale of goods. 42 (b) Post the entries to Work in Process Inventory Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. 44 (d) Prepare a cost of goods manufactured schedule for June. 45 NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?". 49 (a)(1) Journalize the June transactions for purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred Account Account Value 1 Value Account Account Value | 82.1 E2-5 E2-9 P2-3A P2-5A 9021 O Type here to search coSave Excel TemplateAssignment Cho2 (1) . Protected View Excel Seard Home Insert Page Layout Formulas Data Review View Help DYMO Label Qui PROTECTED VIEW Be careful--files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protect X V f P2-3A Prepare entries for a job order cost system and cost of goods manufa D E F G H I (a)(1) Journalize the June transactions for purchase of raw materials, factory labor costs incurre and manufacturing overhead costs incurred Account Account Value Account Account Value Account Account Account Value NS398636 Value 65 (a)(2) Journalize the June transactions for assignment of direct materials, labor, and overhead to prod Account Account Account Value Value Value Account Account Account Account 61 (a)(3) Journalize the June transactions for completion of Jobs and sale of goods 16281123351289 P2-JAPA |CD| th Type here to search @elert File Home Insert Page Layout Formulas Data Review View Help DYMO Label Quid 1 PROTECTED VIEW Be careful lines from the Internet can contain viruses. Unless you need to edit it's safer to stay in Protecte X V P 2-3A Prepare entries for a job order cost system and cost of goods manufa 56 31 (a)(3) Journalize the June transactions for completion of jobs and sale of goods. Account Account Value 111 Account Account Value Account Account Value Value 95 (b) Post the entries to Work in Process Inventory. 6/1 Work in Process Inventory Balance Value June Completed work Direct Materials Value Direct labor Value Overhead applied Value 1 Value 6/30 Balance 104 105 106(C) 107 108 Reconcile the balance in Work In Process Inventory with the costs of unfinished jobs. 109 Value 110 6/30 balance in Work In Process Inventory Unfinished Job (Koss) Direct materials 02. 125 2.9 P2-BA P2-SACD20 Value Type here to search @ele AutoSave a. ExcelTemplateAssignment.Cho2 (1) . Protected View - Excel Search File Home Insert Page Layout Formulas Data Review View HelpDYMO Label QuickBooks PROTECTED VIEW Be carefulfiles from the Internet can contain viruses. Unless you need to edit it's safer to stay in Protected View Enable Editir A1 X P2-3A Prepare entries for a job order cost system and cost of goods manufactured schedule ABC DER FGHJK 706 (c) Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. 107 Value 108 109 110 6/30 balance in Work in Process Inventory Unfinished Job (Koss) Direct materials Direct labor Manufacturing overhead 111 Value Value Value 112 116 (d) Prepare a cost of goods manufactured schedule for June. CASE INC. Cost of Goods Manufactured Schedule For the Month Ended June 30, 2017 Value Value Value Value Work in process, June 1 Direct materials used Direct labore Manufacturing overhead applied Total manufacturing costs Total cost of work in process Less: Work in process, June 30 Cost of goods manufactured Value 133 After you have completed P2-3A, consider the following additional question. 134 1. Assume that indirect labor and raw materials purchases changed to $1,400 and $6,800 respectively. 135 Also assume that overhead is applied at the rate of $1.50 per dollar of direct labor. The three completed jobs were sold for $22,000 cash. Revise the journal entries to reflect these changes. E2-1 E2-5 E2-9 P2-JA P2-5A CD2 135 Type here to search e w @PPT