Jonick Industries, Inc. uses a job order costing system in manufacturing custom products. The following table summarizes data related to production in June, the first month of operations. Determine the cost to date of each of the seven jobs below. Factory Job Materials Labor Machine Hours (only if sold) Sales (Questions #1-7) Job Cost Completed Price to Date Job 922 11,580 8,080 20 yes 36,480 1. Job 923 9,750 14,060 15 yes 42,770 2. Job 924 14,920 17,250 30 yes 3. Job 925 15,360 12,770 50 yes 55,470 4. Job 926 6,940 6,430 45 5. Job 927 12,140 12,000 35 yes 6. Job 928 10,020 13,970 80 7. For general factory use 15,640 10,620 Factory overhead rate per machine hour: $90 8. Materials were purchased on account. $139,710 Date 8. Account Debit Credit Materials Accounts Payable 9. Materials were requisitioned (based on the information in the table above.) Date Account 9. Work in Process Factory Overhead Materials Debit Credit 10. Factory labor was used (based on the information in the table above.) Date 10. Account Work in Process Factory Overhead Wages Payable Debit Credit 11. Factory overhead costs were incurred on account $19,310 Date Account 11. Factory Overhead Accounts Payable Debit Credit 345 12. Depreciation of factory machinery and equipment: $16,580 Account 12. Factory Overhead Accumulated Depreciation Date 6 7 8 9 0 1 2 13. The factory overhead rate, per machine hour: Machine hours used appears in the table above. B 5 Date Account 5 13. Work in Process Factory Overhead Debit Credit $90 Debit Credit 14. Jobs were completed. Date 14. Account Finished Goods Work in Process K S T Debit Credit Debit Credit 15. Jobs were shipped to customers and inventory was adjusted. Date Account 15. Cost of Goods Sold Finished Goods 16. Customers were billed on account for jobs sold. 1 2 Date 3 B 9 Account 16. Accounts Receivable Sales Debit Credit Determine the following amounts at the end of the first accounting period based on the journal entries above. 17. Ending balance in the Materials account 18. Cost so far of all uncompleted jobs 19. Cost of all jobs completed but not yet sold 20. Cost of all jobs that have been sold 21. Gross profit on all jobs that have been sold (Questions #17-21) = Test + 117 118 119 Determined during the next accounting period: 120 22. Actual factory overhead for the previous period: (Question #22) $25,150 121 22 Date Account 23 22. Cost of Goods Sold 24 Factory Overhead 25 26 27 28 Debit Credit