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Ivanhoe Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending on customer preference.
Ivanhoe Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending on customer preference. On June 1, 2022, the general ledger for Ivanhoe Inc. contains the following data. Raw Materials Inventory Work in Process Inventory $4,600 $5,425 Manufacturing Overhead Applied Manufacturing Overhead Incurred $35,000 $29,800 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Rodgers Stevens Linton Direct materials $700 $900 $900 Direct labor 300 500 500 Manufacturing overhead 375 625 625 $1,375 $2,025 $2,025 Job Cost Sheets Customer Job Cost Element Rodgers Stevens Linton Direct materials $700 $900 $900 Direct labor 300 500 500 Manufacturing overhead 375 625 625 $1,375 $2,025 $2,025 0.757 T II During June, raw materials purchased on account were $5,000, and $5,100 of factory wages were paid. Additional overhead costs consisted of depreciation on equipment $900 and miscellaneous costs of $500 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Customer Job Materials Requisition Slips Time Tickets Rodgers $700 $800 Koss 1,900 900 Stevens 600 During June, raw materials purchased on account were $5,000, and $5,100 of factory wages were paid. Additional overhead costs consisted of depreciation on equipment $900 and miscellaneous costs of $500 incurred on account. 400 Linton 1,400 1,400 A summary of materials requisition slips and time tickets for June shows the following. Rodgers 400 500 5,000 4,000 Customer Job Materials Requisition Slips Time Tickets Rodgers $700 $800 Koss 1,900 900 Stevens Linton 600 400 1,400 1,400 General use 1,500 1,100 $6,500 $5,100 Overhead was assigned to jobs at the same rate of $1.25 per dollar of direct labor cost throughout the year. The patios for customers Rodgers, Stevens, and Linton were completed during June and sold for a total of $20,200. Each customer paid in full at the time of sale. (d) Prepare a cost of goods manufactured schedule for June. eTextbook and Media List of Accounts Save for Later IVANHOE INC. Cost of Goods Manufactured Schedule $ SA $ SA $ EA Attempts: 0 of 3 used Submit Answe
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