How do you 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 "0". Enter all amounts as positive numbers.
How do you Determine the June 30 balances for each of the inventory accounts and factory overhead. Use the minus sign to indicate any credit balances
2:35 1 v2.cengagenow.com Chapter 16 Analyzing Manufacturing Cost Accounts Fire Rock Company manufactures designer paddle boards in a wide variety of sizes and styles. The following incomplete ledger accounts refer to transactions that are summarized for June: Materials June 1 Balance 32,000 June 30 Requisitions ( A ) June 30 Purchases 128,500 Work in Process June 1 Balance (B) June 30 Completed jobs ( F ) June 30 Materials (C) June 30 Direct labor m 6 June 30 Factory overhead applied Finished Goods June 1 Balance o June 30 Cost of goods sold (G) June 30 Completed jobs Wages Payable June 30 Wages incurred 118,800 Factory Overhead June 1 Balance 21,700 June 30 Factory overhead applied (E) June 30 Indirect labor (H) June 30 Indirect materials 17,100 June 30 Other overhead 83,100 In addition, the following information is available: a. Materials and direct labor were applied to six jobs in June: Job No. Style Quantity Direct Materials Direct Labor 201 T100 210 $21,730 $16,000 202 T200 400 36,700 25,000 203 T400 220 16,440 9,000 204 $200 250 33,500 25,000 205 T300 160 19,300 15,000 206 S10 140 ,060 5,000 Total 1,380 $136,730 $95,000 b. Factory overhead is applied to each job at a rate of 150% of direct labor cost. c. The June 1 Work in Process balance consisted of two jobs, as follows: Job No. Style Work in Process, June 1 201 T100 $6,100 202 T20 15,600 Total $21,700 d. Customer jobs completed and units sold in June were as follows: Job Style Completed in Units Sold in No. June June 201 T100 168 202 T200 X 320 203 T400 204 $200 X 210 + 2 . . .2:361 v2.cengagenow.com Chapter 16 206 $100 140 9,060 5,000 Total 1,380 $136,730 $95,000 b. Factory overhead is applied to each job at a rate of 150% of direct labor cost. c. The June 1 Work in Process balance consisted of two jobs, as follows: Job No. Style Work in Process, June 1 201 T100 $6,100 202 T200 15,600 Total $21,700 d. Customer jobs completed and units sold in June were as follows: Job Completed in Units Sold in Style No. June June 201 T100 168 202 T200 X 320 203 T400 204 $200 210 X X 205 T300 133 206 $100 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 "0". Enter all amounts as positive numbers. June 1 Direct Direct Job No. Factory Quantity Work in Total Cost Unit Co Materials Labor Process Overhead No. 201 $ 6,100 $ 21,730 $ 16,000 No. 202 15,600 36,700 25,000 No. 203 16,440 9,000 No. 204 33,500 25,000 No. 205 19,300 15,000 No. 206 9,060 5,000 Total $21,700 $136,730 $95,000 $ a. Materials requisitions $ b. Work in process beginning balance $ c. Direct materials $ d. Direct labor $ e. Factory overhead applied $ f. Completed jobs $ g. Cost of goods sold $ h. Indirect labor $ 2. Determine the June 30 balances for each of the inventory accounts and factory overhead. Use the minus sign to indicate any credit balances. Materials Work in process Finished goods Factory overhead + 2
