Job Costing with Predetermined Overhead Rate Kubota Corporation manufactures equipment in batches for inventory stock Assume that Kubotas production costs are accounted for using a job cost system At the beginning of April raw materials inventories totaled $16,830,000, manufacturing supplies amounted to $2,376,000, and finished goods inventories totaled $11,880,000 Two jobs were in process Job 522 with assigned costs of $11,592,000 and Job 523 with assigned costs of $4,950,000 The following information summarizes April manufacturing activities Purchased raw materials costing $49,500,000 on account Purchased manufacturing supplies costing $5,940,000 on account Requisitioned materials needed to complete Job 523 Started two new jobs, 524 and 525, and requisitioned direct materials for them Direct materials Job 523 $5,940,000 Job 524 25,542,000 Job 525 19,008,000 Total $50,490,000 Recorded April salaries and wages as follows Direct labor Job 522 ( 270,000 hours $25 per hour) $6,750,000 Job 523 ( 1,710,000 hours $25 per hour) 42,750,000 Job 524 ( 2,430,000 hours $25 per hour) 60,750,000 Job 525 ( 1,575,000 hours $25 per hour) 39,375,000 Total direct labor 149,625,000 Indirect labor 12,780,000 Total $162,405,000 Used manufacturing supplies costing $4,455,000 Recognized depreciation on factory fixed assets of $10,440,000 Incurred miscellaneous manufacturing overhead costs of $13,050,000 on account Applied manufacturing overhead at the rate of $6 25 per direct labor hour Completed Jobs 522, 523, and 524 Required Prepare a complete analysis of all activity in Work in Process (including job sheets), reconciling from the beginning to the ending balances Note Do not use a negative sign with any of your answers Job 522 Job 523 Job 524 Job 525 Beg Bal Answer Answer Answer Answer DM Answer Answer Answer Answer DL Answer Answer Answer Answer OH Answer Answer Answer Answer Total Answer Answer Answer Answer Work in Process Beg Bal Answer DM Answer DL Answer OH Answer Less completed jobs Answer End Bal Answer

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Job Costing with Predetermined Overhead Rate Kubota Corporation manufactures equipment in batches for inventory stock. Assume that Kubotas production costs are accounted for using a

Job Costing with Predetermined Overhead Rate Kubota Corporation manufactures equipment in batches for inventory stock. Assume that Kubotas production costs are accounted for using a job cost system. At the beginning of April raw materials inventories totaled $16,830,000, manufacturing supplies amounted to $2,376,000, and finished goods inventories totaled $11,880,000. Two jobs were in process: Job 522 with assigned costs of $11,592,000 and Job 523 with assigned costs of $4,950,000. The following information summarizes April manufacturing activities: Purchased raw materials costing $49,500,000 on account. Purchased manufacturing supplies costing $5,940,000 on account. Requisitioned materials needed to complete Job 523. Started two new jobs, 524 and 525, and requisitioned direct materials for them.

Direct materials
Job 523	$5,940,000
Job 524	25,542,000
Job 525	19,008,000
Total	$50,490,000

Recorded April salaries and wages as follows:

Direct labor
Job 522	(	270,000	hours $25 per hour)	$6,750,000
Job 523	(	1,710,000	hours $25 per hour)	42,750,000
Job 524	(	2,430,000	hours $25 per hour)	60,750,000
Job 525	(	1,575,000	hours $25 per hour)	39,375,000
Total direct labor				149,625,000
Indirect labor				12,780,000
Total				$162,405,000

Used manufacturing supplies costing $4,455,000. Recognized depreciation on factory fixed assets of $10,440,000. Incurred miscellaneous manufacturing overhead costs of $13,050,000 on account. Applied manufacturing overhead at the rate of $6.25 per direct labor hour. Completed Jobs 522, 523, and 524. Required Prepare a complete analysis of all activity in Work-in-Process (including job sheets), reconciling from the beginning to the ending balances. Note: Do not use a negative sign with any of your answers.