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i need all blanks filled Analyzing Manufacturing Cost Accounts Clapton Company manufactures custom guitars in a wide variety of styles. The following incomplete ledger accounts
i need all blanks filled
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 summarized for May: Mari 21 Balance Purchases Materials 105,600 May 31 500,000 Requisitions (a) Work in Process Completed Jobs (+) May 1 31 31 Balance Materials Direct labor Factory overhead applied (b) ay 31 c (d e 31 Finished Goods May 31 Balance Completed sobs May 31 Cost of goods sold ( Wages Payable May 31 Wages incurred 396,000 Factory Overhead May 1 Balance 26,400 May 31 Factory overhead applied 31 Indirect labor (h) 31 Indirect materials 15,400 31 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 65,000 39,600 105 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 X Step by Step Solution
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