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I'm stuck on how I should enter in the numbers that I found into the given slots on the sheet. Any help is appreciated! I'm
I'm stuck on how I should enter in the numbers that I found into the given slots on the sheet. Any help is appreciated! I'm so stressed and read through every chapter trying to understand this.
Flint Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2022, accounting records for Flint Inc. contain the following data. Subsidiary data for Work in Process Inventory on June 1 are as follows. During June, raw materials purchased on account were $4,900, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $800 and miscellaneous costs of $500 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Overhead was charged to jobs at the rate of $1.25 per dollar of direct labor cost. The patios for customers Rodgers, Stevens, and Linton were completed during June and sold. Each customer paid in full. Enter the June 1 balances and record the June transactions: (1) for purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred; (2) assignment of direct materials, labor, and overhead to production; and (3) completion of jobs and sale of goods. (Enter negative amounts using either a negative sign preceding the number e.g. 45 or parentheses e.g. (45).) Enter the June 1 balances and record the June transactions: (1) for purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred; (2) assignment of direct materials, labor, and overhead to production; and (3) completion of jobs and sale of goods. (Enter negative amounts using either a negative sign preceding the number e.g. 45 or parentheses e.g. (45).)Step by Step Solution
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