During May, the following transactions were completed and reported by Jerico Company:

1. Materials purchased on account, $60,100.
2. Materials issued to production to fill job-order requisitions: direct materials, $50,000; indirect materials, $8,700.
3. Payroll for the month: direct labor, $75,000; indirect labor, $35,000; administrative, $28,000; sales, $19,000.
4. Depreciation on factory plant and equipment, $10,500.
5. Property taxes on the factory accrued during the month, $1,450.
6. Insurance on the factory expired with a credit to the prepaid insurance account, $6,200.
7. Factory utilities, $5,500.
8. Advertising paid with cash, $7,900.
9. Depreciation on office equipment, $800; on sales vehicles, $1,650.
10. Legal fees incurred but not yet paid for preparation of lease agreements, $750.
11. Overhead is charged to production at a rate of $18 per direct labor hour. Records show 4,000 direct labor hours were worked during the month.
12. Cost of jobs completed during the month, $150,000.

The company also reported the following beginning balances in its inventory accounts:

Materials Inventory	$7,500
Work-in-Process Inventory	37,000
Finished Goods Inventory	50,000

Required:

1. Prepare journal entries to record the transactions occurring in May. For a compound transaction, if an amount box does not require an entry, leave it blank.

a.		fill in the blank 906907f5a01c045_2
			fill in the blank 906907f5a01c045_4
b.		fill in the blank 906907f5a01c045_6	fill in the blank 906907f5a01c045_7
		fill in the blank 906907f5a01c045_9	fill in the blank 906907f5a01c045_10
		fill in the blank 906907f5a01c045_12	fill in the blank 906907f5a01c045_13
c.		fill in the blank 906907f5a01c045_15	fill in the blank 906907f5a01c045_16
		fill in the blank 906907f5a01c045_18	fill in the blank 906907f5a01c045_19
		fill in the blank 906907f5a01c045_21	fill in the blank 906907f5a01c045_22
		fill in the blank 906907f5a01c045_24	fill in the blank 906907f5a01c045_25
		fill in the blank 906907f5a01c045_27	fill in the blank 906907f5a01c045_28
d.		fill in the blank 906907f5a01c045_30
			fill in the blank 906907f5a01c045_32
e.		fill in the blank 906907f5a01c045_34
			fill in the blank 906907f5a01c045_36
f.		fill in the blank 906907f5a01c045_38
			fill in the blank 906907f5a01c045_40
g.		fill in the blank 906907f5a01c045_42
			fill in the blank 906907f5a01c045_44
h.		fill in the blank 906907f5a01c045_46
			fill in the blank 906907f5a01c045_48
i.		fill in the blank 906907f5a01c045_50	fill in the blank 906907f5a01c045_51
		fill in the blank 906907f5a01c045_53	fill in the blank 906907f5a01c045_54
		fill in the blank 906907f5a01c045_56	fill in the blank 906907f5a01c045_57
j.		fill in the blank 906907f5a01c045_59
			fill in the blank 906907f5a01c045_61
k.		fill in the blank 906907f5a01c045_63
			fill in the blank 906907f5a01c045_65
l.		fill in the blank 906907f5a01c045_67
			fill in the blank 906907f5a01c045_69

2. Prepare T-accounts for Materials Inventory, Overhead Control, Work-in-Process Inventory, and Finished Goods Inventory. Post the entries to the T-account in the same order in which they were journalized.

Materials Inventory
	fill in the blank 6d195dfcefb607c_2		fill in the blank 6d195dfcefb607c_4
	fill in the blank 6d195dfcefb607c_6
Balance	fill in the blank 6d195dfcefb607c_7

Work in Process Inventory
	fill in the blank af371dfe1007fd5_2		fill in the blank af371dfe1007fd5_4
	fill in the blank af371dfe1007fd5_6
	fill in the blank af371dfe1007fd5_8
	fill in the blank af371dfe1007fd5_10
Balance	fill in the blank af371dfe1007fd5_11

Finished Goods Inventory
	fill in the blank 1a63f4000053fa0_2
	fill in the blank 1a63f4000053fa0_4
Balance	fill in the blank 1a63f4000053fa0_5

Overhead Control
	fill in the blank 0c0121000031009_2		fill in the blank 0c0121000031009_4
	fill in the blank 0c0121000031009_6
	fill in the blank 0c0121000031009_8
	fill in the blank 0c0121000031009_10
	fill in the blank 0c0121000031009_12
	fill in the blank 0c0121000031009_14
		Balance	fill in the blank 0c0121000031009_15

3. Prepare a statement of cost of goods manufactured.

Jerico Company
Statement of Cost of Goods Manufactured
For the Month Ended May 31, 20XX
		$fill in the blank 9cb544015fbc056_2
		fill in the blank 9cb544015fbc056_4
Overhead:
	$fill in the blank 9cb544015fbc056_6
	fill in the blank 9cb544015fbc056_8
	fill in the blank 9cb544015fbc056_10
	fill in the blank 9cb544015fbc056_12
	fill in the blank 9cb544015fbc056_14
	fill in the blank 9cb544015fbc056_16
	$fill in the blank 9cb544015fbc056_17
	fill in the blank 9cb544015fbc056_19
		fill in the blank 9cb544015fbc056_21
Manufacturing costs added		$fill in the blank 9cb544015fbc056_22
		fill in the blank 9cb544015fbc056_24
		fill in the blank 9cb544015fbc056_26
Cost of goods manufactured		$fill in the blank 9cb544015fbc056_27

4. If the overhead variance is all allocated to cost of goods sold, by how much will cost of goods sold decrease or increase? by $fill in the blank a4aa2af7001bfbe_2