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i really just need help with the (a)(3) part. thank you. Lactory Labor 75 4800 76 7 Work in process inventory 4.500 8 manufacturing overhead
i really just need help with the (a)(3) part. thank you.
Lactory Labor 75 4800 76 7 Work in process inventory 4.500 8 manufacturing overhead 4,500 9 0 1 (a)(3) Journalize the June transactions for completion of jobs and sale of goods 2 3 Finished Good Inventory 14.740 Work in process inventory 14,740 5 Cost Element - Completed Projects Rodgers Stevens Linton 2 June 1 Direct Materials 600 800 900 Direct Labor 320 540 580 Mitg O/H 400 675 725 Total June 1 1,320 2,015 2.205 June Month Direct Materials 1,100 Value Value Direct Labor 1240 Value Value Mitg O/H 1,550 Value Value Total June Month 3,890 ? 2 Total Direct Materials 1,700 ? 2 Direct Labor 1,560 2 2 Mitg O/H 1,950 2 Total Project 5.210 2 2 Total Costs ? 2 2 2 Cash 18,900 Sales revenue 18.900 14,740 Cost Of goods sold Finished goods inventory 14,740 U stem and cost of goods anwactured schedule 2 Case Inc. is a construction company specializing in custom patios. The patios are constructed of 25 Points 3 concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2017 4 the general ledger for Case Inc. contains the following data. 5 6 Raw Materials Inventory $4,200 Manufacturing Overhead Applier $32,640 7. Work in Process Inventory $5,540 Manufacturing Overhead incurre $31,650 8 9 Subsidiary data for Work in Process Inventory on June 1 are as follows. 10 11 Job Cost Sheets 12 Customer Job 13 Cost Element Rodgers Stevens Linton 14 Direct materials $600 $800 $900 15 Direct labor 320 540 580 16 Manufacturing overhead 400 675 725 17 $1,320 $2015 $2,205 18 19 During June, raw materials purchased on account were $4.900, and all wages were paid. Additional 20 overhead costs consisted of depreciation on equipment $900 and miscellaneous costs of $400 incurred 21 on account 22 A summary of materials requisition slips and time tickets for June show the following 23 Materials Customer Requisitio 24 Job n slips Time tickets 25 Rodgers $ 800 $850 26 Koss 2,000 800 27 Stevens 500 360 28 Linton 1,300 1,200 29 Rodgers 300 390 4,900 3,600 31 General use 1,500 1.200 32 $ 6,400 $4800 33 34 Overhead was charged to jobs at the same rate of $1.25 per dollar of direct labor cost. The patios for 35 customers Rodgers, Stevens, and Linton were completed during June and sold for a total of $18.900 36 Each customer paid in full 37 38 Instructions 39 (a) Journalize the June transactions: (1) for purchase of raw materials, factory labor costs incurred, 40 and manufacturing overhead costs incurred: (2) assignment of direct materials, labor, and overhead to 41 production, and (3) completion of jobs and sale of goods 42 (b) Post the entries to Work in Process Inventory 43. (c) Reconcile the balance in Work in Process Inventory with the costs of unfinished lobs. Test Problem P16.34 Test Problem P16-44 Test Problem P17-20 Test Problem P18-14 Test Problem DISA Test Problem P18 Step by Step Solution
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