Chapter 19 HW eBook Analyzing Manufacturing Cost Accounts Clapton Company manufactures custom guitars in a wide variety of styles. The following incomplete ledger accounts refer to transactions that are summarized for May Materials May 1 31 Balance Purchases 36,300 May 31 Requisitions 145,800 (a) Work in Process May Balance (b) 31 Completed jobs (f) 31 Materials (c) 31 Direct labor (d) 31 Factory overhead applied May 11 Balance 31 Completed jobs Finished Goods May 31 Cost of goods sold (9) May 1 Balance 31 Completed jobs May 11 Balance 31 Indirect labor 31 Indirect materials 31 Other overhead Finished Goods May 31 Cost of goods sold (g) Wages Payable May 31 Wages incurred 117,500 Factory Overhead i 19,700 May 31 (h) 19,400 62,000 In addition, the following information is available: a. Materials and direct labor were applied to the following jobs in May: Job No. Style Quantity Direct Materials Factory overhead applied Direct Labor Chapter 19 HW Book In addition, the following information is available: a. Materials and direct labor were applied to the following jobs in May Direct Labor Job No. Style Quantity Direct Materials 101 AFI 180 $23,040 $13,000 102 AF3 370 37,230 24,000 103 AF2 220 18,680 9,000 164- VYJ 280 42,280 28,000 105 VY2 180 25,700 17,000 106 AF4 120 8,220 3,000 Total 1,350 $155.150 $94,000 b. Factory overhead is applied to each job at a rate of 130% of direct labor cost The May 1 Work in Process balance consisted of two jobs, as follows: Work in Process, Job No. Style May 1 101 AFL $5,200 102 AF3 14,500 Total $19,700 Chapter 19 HW vbook Work in Process, Job No. Style May 1 101 AFL $5,200 102 AF3 14,500 Total $19,700 d. Customer jobs completed and units sold in May were as follows Completed in Units Sold Job No Style May in May 10 AP 144 102 AFI 296 103 AF2 104 VYI 235 105 VY2 149 106 AF4 Required: 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 Chapter 19 HW eBook Required 1. Determine the missing amounts associated with each letter and complete the following table. It required, round amounts to the nearest dolar. If an answer is zero, enter in "Enter all amounts as positive numbers Job No. Quantity No. 101 No. 102 No 103 No:104 105 No 100 Total May 1 Work in Process $5,200 14.500 Direct Materials $23,040 37.230 Direct Labor Factory Overhead Cost of Goods Sold Total Cost Unit Cost Units Sold $13,000 24,000 18,600) 9,000 42.200 28,000 25,700 17,000 8,220 3,000 $1,700 $155,150 $94,000 a. Materials Requisitions b. Work in Process Beginning Balance Direct Materials: 106 Total 8,220 3,000 $19.700 $155.150 $94,000 Materials Requisitions b. Work in Process Beginning Balance e. Direct Materials d. Direct Labor Factory overhead applied 1. Completed jobs 9. Cost of goods sold h. Indirect labor 2. Determine the May 31 balances for each of the inventory accounts and factory overhead. Use the minus sign to indicate any credit balances Materials Work in Proces Finished Goods Factory Overhead 0000 Analyzing Manufacturing Cost Accounts Clapton Company manufactures custom guitars in a wide variety of styles. The following incomplete ledger accounts refer to transactions that are summarized for May: Materials May 1 Balance 36,300 May 31 Requisitions 31 Purchases 145,800 May 1 Balance 31 Materials 31 31 RRR Direct labor Factory overhead applied May 1 Balance 31 Completed jobs Work in Process (c) (P) Completed jobs Finished Goods May 31 Cost of goods sold Wages Payable May 311 (a) Wages incurred 117,500 Factory Overhead May 1 Balance 19,700 May 31 Factory overhead applied (e) 31 Indirect labor 33 Indired materials Ch 19,400 theachad Balance 31 Indirect labor 11 Indred materials Other overhead Factory Overhead 19,700ay 31 (N Factory overhead applied 003 19,400 82,000 In addition, the following information is available a materials and direct labor were applied to the following Jobs in May Job 101 Style Quantity Direct Materials Direct Labor AFT 180 $23,040 113,000 162 379 37,230 24,000 103 AF 220 18.500 1.000 104 200 42.300 38,500 105 100 25.790 120 3,000 1.358 $155.150 104,000 Factory verbad is seed to each Jehta rate of 130% of direct t The May I Work Prosess balants consisted of twe Work in Process Job 101 Myle AP 1.300 Na $10,700 d. Chidim jabs and din layer as h Completed in Units Sold Style May in May d. Customer jobs completed and units sold in May were as follows: Completed in Units Sold Job No. Style May in May 101 AFL X 144 102 AF3 X 296 100 AF2 0 104 WI 235 105 VY2 100 106 0 Required: 1. Determine the missing amounts assscated with each letter and complete the following table. If required, round amounts to the nearest data. If an awer is vers, enter in "Enter all amounts as poctive numbers Quantity May 1 Work in Process Direct Materials 101 No.102 $5,300 14,500 $23.040 Direct Labor $13.000 Factory Overhead Cost of Goods Sold Total Cost Unit Cost Units Sold 37,230 24,000 No. 103 No 104 No 105 100 10,000 9,000 42,280 28,000 25.700 17,000 6.230 3,000 T $19,700 0155130 104,000 a. Materials Requisitions b. Work in Process Beginning Balance May 1 Work in Direct Direct Factory Job No. Quantity Process Materials Labor Overhead Total Cost Unit Cost Units Sold No. 101- 102 No. 103 10 No. 105 $5,200 14,500 $23,040 $13,000 37,230 24,000 18,690 9,000 42,280 28,000 25,700 17,000 No.106 Total 8,220 3,000 $19,700 $155,150 $94.000 a Haterials Requisitions b. Work in Process Beginning Balance) c. Direct Materials d. Direct Labor n. Factory overhead applied 1. Completed jobs o. Cost of goods sold h. Indirect labor 2. Determine the May 33 balances for each of the inwentary accounts and fadory overhead. Use the mid Hate Work in Process Fristed Goods Factary Overhead 0000 indicate any orde Cost of Goods Sold