Ch 5 Job Order Costing Discussion You are asked to bring the following incomplete accounts of Webber Printing Corporation up to date through January 31 of the current year. Consider the data that appear in the T-accounts as well as additional information given in items (a) through (i). Webber's job-order costing system has two direct cost categories (direct material and direct manufacturing labor) and one indirect cost pool (manufacturing overhead, which is allocated using direct manufacturing labor costs). Materials Inventory Control 15,000 12/31 Beg. Bal Wages Payable Control 3,000 End. Bal 1/31 Manufacturing Department Overhead Control Work in Process Inventory Control Jan. Charges 57,000 Manufacturing Overhead Control Finished Goods Inventory 12/31 Beg. Bal 20,000 Cost of Goods Sold Additional Information: a. b. c. d. e. f. g. h. i. Manufacturing department overhead is allocated using a budgeted rate set every December. Management forecasts next year's overhead and next year's direct manufacturing labor costs. The budget for the current year is $400,000 of direct manufacturing labor and $600,000 of manufacturing overhead. The only job unfinished on January 31 is No. 419, on which direct manufacturing labor costs are $2,000 (125 direct manufacturing labor hours) and direct material costs are $8,000. Total material placed into production during January is $90,000. Cost of goods completed during January is $180,000. Material inventory as of January 31 is $20,000. Finished goods inventory as of January 31 is $15,000. All plant workers earn the same wage rate. Direct manufacturing labor hours for January total 2,500. Other labor and supervision totals $10,000. The gross plant payroll for January pay periods totals $52,000. Ignore withholdings. All personnel are paid on a weekly basis. All "actual" manufacturing department overhead incurred during January has already been posted. Required: Material purchased during January a. b. Cost of Goods Sold during January c. d. Direct Manufacturing Labor Costs incurred during January Manufacturing Overhead Allocated during January f. h. Balance, Wages Payable Control, December 31, prior year Balance, Work in Process Inventory Control, January 31, current year Balance, Work in Process Inventory Control, December 31, prior year Balance, Finished Goods Inventory Control, January 31, current year Manufacturing Overhead underapplied or overapplied for January |