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Can anyone who answers this please explain where you get numbers from if u have to add anything together or multiply for example. All my
Can anyone who answers this please explain where you get numbers from if u have to add anything together or multiply for example. All my answers are right but I kind of just added random numbers until i got the right one so I need to see where they all come from please!!
Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2020, the general ledger for Case Inc. contains the following data. Raw Materials Inventory Work in Process Inventory $4,100 $5,250 Manufacturing Overhead Applied Manufacturing Overhead Incurred $31,200 $28,800 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Rodgers Stevens Direct materials $600 $700 Direct labor 300 Manufacturing overhead 375 750 $1,275 $2,050 600 Linton $800 500 625 $1,925 During June, raw materials purchased on account were $5,000, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $800 and miscellaneous costs of $400 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Customer Job Rodgers Koss Stevens Linton Rodgers Materials Requisition Slips $700 2,100 400 1,400 400 Time Tickets $1,000 900 400 1.100 300 3,700 1,000 $4,700 General use 5,000 1,400 $6,400 Overhead was charged to jobs at the same rate of $1.25 per dollar of direct labor cost. The patios for customers Rodgers, Stevens, and Linton were completed during June and sold for a total of $18,600. Each customer paid in full. Journalize the June transactions: (1) for purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred; (2) assignment of direct materials, labor, and overhead to production; and (3) completion of jobs and sale of goods. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Debit Credit No. Account Titles and Explanation (1) Raw Materials Inventory 5000 5000 Accounts Payable (To record purchase of raw materials) Factory Labor 4700 Cash 4700 (To record factory labor costs paid) Manufacturing Overhead 1200 Accumulated Depreciation Equipment 800 Accounts Payable 400 (To record manufacturing overhead costs incurred) (2) Work in Process Inventory 5000 Manufacturing Overhead 1400 Raw Materials Inventory 6400 (To record assignment of direct materials) Work in Process Inventory 3700 Manufacturing Overhead 1000 Factory Labor 4700 (To record assignment of factory labor) Work in Process Inventory 4625 Manufacturing Overhead 4625 (To record assignment of manufacturing overhead) (3) Finished Goods Inventory 14450 Work in Process Inventory 14450 (To record completion of jobs) Cash 18600 Sales Revenue 18600 (To record sale of goods) Cost of Goods Sold 14450 Cash 18600 Sales Revenue 18600 (To record sale of goods) Cost of Goods Sold 14450 Finished Goods Inventory 14450 (To record the cost of goods sold) e Textbook and Media Solution List of Accounts Your Answer Correct Answer Your answer is correct. Post the entries to Work in Process Inventory. (Post the entries to Work in Process Inventory in the order presented in the problem.) Work in Process Inventory 6/1 Balance 5250 June Completed Work 14450 Direct Materials 5000 Direct Labor 3700 Overhead Applied V 4625 6/30 Balance 4125 Prepare a cost of goods manufactured schedule for June. CASE INC. Cost of Goods Manufactured Schedule For the Month Ended June 30, 2020 Work in Process, June 1 $ 5250 Direct Materials Used $ 5000 Direct Labor 3700 Manufacturing Overhead Applied v 4625 Total Manufacturing Costs 13325 Total Cost of Work in Process 18575 Less : Work in Process, June 30 4125 i Cost of Goods Manufactured $ 14450Step by Step Solution
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