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Blossom Corporation's fiscal year ends on June 30. The following accounts are found in its job-order cost accounting system for the first month of the
Blossom Corporation's fiscal year ends on June 30. The following accounts are found in its job-order cost accounting system for the first month of the new fiscal year: Raw Materials Inventory July 1 Beginning balance July 31 Requisitions a) 15,800 31 Purchases 91.100 July 31 Ending balance (b) Work In Process Inventory July 1 Beginning balance July 31 (c) Jobs completed {f) 31 Direct materials 74.700 31 Direct labour (d) 31 Overhead e) July 31 Ending balance ls Finished Goods Inventory July 1 Beginning balance ) (h) July 31 Cost of goods sold 0 31 Jobs completed (i) Ending July 31 (K) balance Factory Labour July 31 Factory wages (1) July 31 Wages assigned (m) Manufacturing Overhead July 31 Indirect materials July 31 Overhead applied 114,500 8.000 31 Indirect labour 15.200 31 Other overhead (n) Other data: 1. On July 1, two jobs were in process: Job No.4085 and Job No. 4086, with costs of $19,200 and $13.650. respectively. 2. During July, Jobs 4087,4088, and 4089 were started. On July 31, only Job No. 4089 was unfinished. This job had charges for direct materials of $2,120 and direct labour of $1,560.plus manufacturing overhead. Manufacturing overhead was applied at the rate of 125% of direct labour cost 3. On July 1. Job No. 4084, costing $145,500 was in the finished goods warehouse. On July 31. Job No.4088.costing $138,000, was in finished goods. 4. Overhead was $3.100 under-applied in July. Indicate the amount pertaining to each letter. (a) ) $ (b) $ $ (c) S (d) ) $ $ le) $ (f) s TO $ (h) $ (0) $ $ 0 0 $ (K) $ e (0) $ $ (m) $ (n) $
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