Inventory Analysis The following data were extracted from the income statement of Brecca Systems Inc. Current Year Previous Year Sales 1,562,200 $1,629,400 Beginning inventories 113,898 89,020 Cost of goods sold 905,200 781,100 Ending inventories 103,098 113,898 a. Determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory. Round interim calculations to the nearest dollar and the final answers to one decimal place. Assume 365 days a year. Current Year Previous Year 1. Inventory turnover 2. Number of days' sales in inventory days days b. The inventory position of the business has deteriorated . The inventory turnover has decreased,while the number of days' sales in inventory has increased Issuance of Materials On April 6, Salinger Company purchased on account 680 units of raw materials at $18 per unit. On April 21, raw materials were requisitioned for production as follows: 299 $18per lobsos16peruniturchase units for units for Job 50 at $16 per unit and 218 units for Job 51 at $18 per unit. Journalize the entry on April 6 to record the purchase. Materials Apr. 6 Materials Accounts Payable Feedback ournalize the entry on April 21 to record the requisition from the materials storeroom Apr. 21 Work in Process Materials Applying Factory Overhead Keenan Company estimates that total factory overhead costs will be $192,000 for the year. Direct labor hours are estimated to be 24,000 a. For Keenan Company, determine the predetermined factory overhead rate using direct labor hours as the activity base. If required, round your answer to two decimal places per direct labor hour b. During April, Keenan Company accumulated 870 hours of direct labor costs on Job 50 and 740 hours on Job 51. Determine the amount of factory overhead applied to Jobs 50 and 51 in April. Feedback c. Prepare the journal entry to apply factory overhead to both jobs in April according to the predetermined overhead rate. Work in Process Factory Overhead Process Cost Journal Entries The cost of materials transferred into the Rolling Department of Matco Steel Company is $524,400 from the Casting Department. The conversion cost for the period in the Rolling Department is $113,900 ($66,900 factory overhead applied and $47,000 direct labor). The total cost transferred to Finished Goods for the period was $657,200. The Rolling Department had a beginning inventory of $21,200 a1. Journalize the cost of transferred-in materials. Work in Process-Rolling Work in Process-Casting Feedback a2. Journalize the conversion costs. If an amount box does not require an entry, leave it blank. Work in Process-Rolling Factory Overhead-Rolling Wages Payable a3. Journalize the costs transferred out to Finished Goods Finished Goods Work in Process-Rolling Y a3. Journalize the costs transferred out to Finished Goods Finished Goods Work in Process-Rolling b. Determine the balance of Work in Process-Rolling at the end of the period Feedback