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 37,300 May 31 Requisitions Purchases 149,800 Work in Process May 1 31 31 31 Balance Materials Direct labor Factory overhead applied Completed jobs Finished Goods 0 May 31 May 1 31 Balance Cost of goods sold Completed jobs Wages Payable May 31 Wages incurred 126,300 Factory Overhead 22,000 May 31 Balance Indirect labor Indirect materials Other overhead Factory overhead applied May 1 31 31 31 19,900 77,200 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 Direct Labor 101 AF1 200 $25,000 $15,000 102 103 104 105 106 AF3 AF2 VY1 VY2 100 200 320 160 140 Total 1,420 39,200 15,400 49,120 21,760 8,880 $159,360 26,000 8,000 33,000 15,000 4,000 $101,000 Na. 10 8,380 ,000 S22,000 $159,3O s101,000 a. Materials Requisitions b. Work in Process Beginning Balance b. Factory overhead is applied to each job at a rate of 140% of direct labor cost. C. The May 1 Work in Process balance consisted of two jobs, as tollows c. Direct Materials d. Direct Labor Job No. Style 101 102 AF3 Work in Process, May 1 S6,000 16,000 $22,DDD e. Factory overhead applied f. Completed jobs g. Cost of goods sold AF1 d. Customer jobs completed and units sold in May were as follows: h. Indirect labor Completed in Units Sold in May 160 320 Job No. Style 101 AF1 102 AF3 103 AF 101 VY1 105 VY2 106 AF4 May 2. Determine the May 31 balances for each of the inventory accounts and factory overhead, Use the minus sign to ndicate any credit balances Work in Process Finished Goods Factary Overhead 133 Required: 1. Determine the missing amounts associated with each letter and complete the following table. If required, raund amounts to the nearest dollar. If an answer is zero, enter in 0". Enter all amounts as positive numbers. May 1 Work in Direct Direct Factory Total Cost of Goods Job No. Quantity Proccss Materials Labor Overhead No, 101 No. 102 No. 103 No. 104 No. 105 Unit Units Sold CostCost Sold 6,000 25,D0D 15,000 16,000 39,200 26,000 15,400 8,000 49,120 33,000 21,76 15,000