Christopher's Custom Cabinet Company uses a job order cost system with overhead applied as a percentage of direct labor costs. Inventory balances at the beginning of the current year follow: Raw Materials Inventory Work in Process Inventory Finished Goods Inventory $ 15,900 5,700 21,300 The following transactions occurred during January: a. Purchased materials on account for $27,600. b. Issued materials to production totaling $20,600, 90 percent of which was traced to specific jobs and the remainder of which was treated as indirect materials. c. Payroll costs totaling $16,400 were recorded as follows: $10,500 for assembly workers $2,000 for factory supervision $1,800 for administrative personnel $2,100 for sales commissions d. Recorded depreciation: $4,900 for factory machines, $800 for the copier used in the administrative office. e. Recorded $1,400 of expired insurance. Forty percent was insurance on the manufacturing facility, with the remainder classified as an administrative expense. f. Paid $5,900 in other factory costs in cash. g. Applied manufacturing overhead at a rate of 200 percent of direct labor cost. h. Completed all jobs but one; the job cost sheet for the uncompleted job shows $2,500 for direct materials, $2,300 for direct labor, and $4,600 for applied overhead. i. Sold jobs costing $50,900. The revenue earned on these jobs was $66,170.

Solve for H on T-Account Work in Process Inventory and Finished Goods Inventory

Christopher's Custom Cabinet Company uses a job order cost system with overhead applied as a percentage of direct labor costs. Inventory balances at the beginning of the current year follow: Raw Materlals Inventory Work in Process Inventory Pinished Goods Inventory $15,900 5,700 21,300 The following transactions occurred during January: a. Purchased materials on account for $27,600. b. Issued materials to production totaling $20,600,90 percent of which was traced to specific jobs and the remainder of which was treated as indirect materials. c. Payroll costs totaling $16,400 were recorded as follows: $10,500 for assembly workers $2,000 for factory supervision $1,800 for administrative personnel $2,100 for sales commissions d. Recorded depreciation: $4,900 for factory machines, $800 for the copier used in the administrative office. e. Recorded $1,400 of expired insurance. Forty percent was insurance on the manufacturing faclity, with the remainder classified as an administrative expense. f. Paid $5,900 in other factory costs in cash. g. Applied manufacturing overhead at a rate of 200 percent of direct labor cost. h. Completed all jobs but one; the job cost sheet for the uncompleted job shows $2,500 for direct materials, $2,300 for direct labor, and $4,600 for applied overhead. i. Sold jobs costing $50,900. The revenue earned on these jobs was $66,170 Christopher's Custom Cabinet Company uses a job order cost system with overhead applied as a percentage of direct labor costs. Inventory balances at the beginning of the current year follow: Ray Mterials Invent. Work in Process Inventory Pinished Goods Inveatory $15,900 5,700 21,300 The following transactions occurred during January: a. Purchased materials on account for $27,600. b. Issued materials to production totaling $20,600,90 percent of which was traced to specific jobs and the remainder of which was treated as indirect materials. c. Payroll costs totaling $16,400 were recorded as follows: $10,500 for assembly workers $2,000 for foctory supervision $1,800 for administrative personnel $2,100 for sales commissions d. Recorded depreciation: $4,900 for factory machines, $800 for the copier used in the administrative office. e. Recorded $1,400 of expired insurance. Forty percent was insurance on the manufactufing facility, with the remainder classified as an administrative expense. f. Paid $5,900 in other factory costs in cash. 9. Applied manufacturing overhead at a rate of 200 percent of direct labor cost. h. Completed all jobs but one; the job cost sheet for the uncompleted job shows $2,500 for direct materials, $2,300 for direct labor, and $4,600 for applied overhead. i. Sold jobs costing $50,900. The revenue earned on these jobs was $66,170