ebook Chapter 19 Homework #2 Print Item 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 summarved for a Materials Balance 105,600 May 31 Requisitions 500,000 May 1 31 Purchases Completed Jobs May 1 31 31 33 Balance Materials Direct labor Factory overhead applied Work in Process (1) May 31 (o (d) (0) Finished Goods May 31 Cost of goods sold (9) May 1 31 Balance Completed jobs co Wages Payable May 31 Wages incurred 395,000 Wages Payable May 31 Wages incurred 396,000 (e) 31 Factory Overhead May 1 Balance 26,400 May 31 Factory overhead applied 31 Indirect labor (h) 31 Indirect materials 15,4001 Other overhead 122,500 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 330 $ 82,500 $ 59,400 102 AF3 380 105,400 72,600 103 AF2 500 132,000 110,000 104 VY1 400 66,000 39,600 105 VY2 660 118,800 66,000 106 AF4 330 66,000 30,800 Total 2,600 $570,700 $378,400 99+ Chapter 19 Homework #2 eBook Print Item 105 VY2 660 118,800 66,000 106 AF4 330 66,000 30,800 Total 2,600 $570,700 $378,400 b. Factory overhead is applied to each job at a rate of 50% of direct labor cost. C. The May 1 Work in Process balance consisted of two jobs, as follows: Work in Process, Job No. Style May 1 101 AF1 $26,400 102 AF3 46,000 Total $72,400 d. Customer jobs completed and units sold in May were as follows: Completed Units Sold Job No. Style in May in May 101 AF1 264 102 AF3 360 103 AF2 0 104 VY1 384 105 VY2 530 106 AF4 0 Required: Chapter 19 Homework #2 ebook Print them 1. Determine the missing amounts associated with each better by completing the table below. If required, round your unit cost to two decimal places. Il ar ananar lazer, enter in 0". Enter amounts as positive numbers May 1 Quay- Work in Job No. Style Process Direct Materials Direct Labor Factory Overhead Total Cost Unit Cost Units Sold No. 101 AFI 330 383.500 159.400 No, 102 AF3 350 105.400 72,600 No. 103 AF 500 132.000 110,000 No. 104 VY 400 66,000 39,600 No. 105 660 110,000 66,000 No. 106 AF4 330 66,000 30,500 Total 2,600 $570,700 5378.400 a. Materials Requisitions V2 b. Work in Process Beginning Balance c. Direct Materials d. Direct Labor s e. Factory overhead applied 100 3310 YouTube Pandora Translate myCourses - Blue R. Cengage M WebMail ress=true Google Docs BodyBuilding.com 00 Home - Blue Total 2,600 $570,700 $378,400 a. Materials Requisitions b. Work in Process Beginning Balance c. Direct Materials d. Direct Labor s e. Factory overhead applied f. 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. Enter all amounts as positive numb Materials Work in Process Accounting numeric field Finished Goods Factory Overhead ebook Chapter 19 Homework #2 Print Item 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 summarved for a Materials Balance 105,600 May 31 Requisitions 500,000 May 1 31 Purchases Completed Jobs May 1 31 31 33 Balance Materials Direct labor Factory overhead applied Work in Process (1) May 31 (o (d) (0) Finished Goods May 31 Cost of goods sold (9) May 1 31 Balance Completed jobs co Wages Payable May 31 Wages incurred 395,000 Wages Payable May 31 Wages incurred 396,000 (e) 31 Factory Overhead May 1 Balance 26,400 May 31 Factory overhead applied 31 Indirect labor (h) 31 Indirect materials 15,4001 Other overhead 122,500 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 330 $ 82,500 $ 59,400 102 AF3 380 105,400 72,600 103 AF2 500 132,000 110,000 104 VY1 400 66,000 39,600 105 VY2 660 118,800 66,000 106 AF4 330 66,000 30,800 Total 2,600 $570,700 $378,400 99+ Chapter 19 Homework #2 eBook Print Item 105 VY2 660 118,800 66,000 106 AF4 330 66,000 30,800 Total 2,600 $570,700 $378,400 b. Factory overhead is applied to each job at a rate of 50% of direct labor cost. C. The May 1 Work in Process balance consisted of two jobs, as follows: Work in Process, Job No. Style May 1 101 AF1 $26,400 102 AF3 46,000 Total $72,400 d. Customer jobs completed and units sold in May were as follows: Completed Units Sold Job No. Style in May in May 101 AF1 264 102 AF3 360 103 AF2 0 104 VY1 384 105 VY2 530 106 AF4 0 Required: Chapter 19 Homework #2 ebook Print them 1. Determine the missing amounts associated with each better by completing the table below. If required, round your unit cost to two decimal places. Il ar ananar lazer, enter in 0". Enter amounts as positive numbers May 1 Quay- Work in Job No. Style Process Direct Materials Direct Labor Factory Overhead Total Cost Unit Cost Units Sold No. 101 AFI 330 383.500 159.400 No, 102 AF3 350 105.400 72,600 No. 103 AF 500 132.000 110,000 No. 104 VY 400 66,000 39,600 No. 105 660 110,000 66,000 No. 106 AF4 330 66,000 30,500 Total 2,600 $570,700 5378.400 a. Materials Requisitions V2 b. Work in Process Beginning Balance c. Direct Materials d. Direct Labor s e. Factory overhead applied 100 3310 YouTube Pandora Translate myCourses - Blue R. Cengage M WebMail ress=true Google Docs BodyBuilding.com 00 Home - Blue Total 2,600 $570,700 $378,400 a. Materials Requisitions b. Work in Process Beginning Balance c. Direct Materials d. Direct Labor s e. Factory overhead applied f. 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. Enter all amounts as positive numb Materials Work in Process Accounting numeric field Finished Goods Factory Overhead