K P205A Analyze manufacturing accounts and determine missing amounts Phillips Corporation's fiscal year ends on November 30. The following accounts are found in its job order cost accounting system for the first month of the new fiscal year Dec. 1 Beginning balance 31 Purchases Dec 31 Ending balance Raw Materials Inventory 9310 Dec. 31 Requisitions 17 225 7,975 $16,850 0 50450 12 13 14 15 15 17 15 Dec 1 Beginning balance 31 Direct materials 31 Direct labor 31 Overhead Dec 31 Ending balance Work in Process Inventory 39000 Dec 31 Jobs completed 15210 8.400 8715 12475 Dec 1 Beginning balance Dec 31 Jobs completed Dec 31 Ending balance Finished Goods Inventory 5600 Dec 31 Cost of goods sold 50450 4400 51650 20 21 3+ Cart Factory Labor * We wird P205 13 Finished Goods Inventory 5600 Dec 31 Cost of goods sold 50450 4400 Dec. 1 Beginning balance Dec 31 Jobs completed Dec. 31 Ending balance 51650 Dec 31 Factory wages Factory Labor 12,025 Dec. 31 Wages assigned 12125 Manufacturing Overhead 2,900 Dec 31 Overhead applied 3025 1,245 Dec 31 Indirect materials 31 Indirect labor 3 Other overhead 8715 30 Omdat On December 1, two jobs were in process Job No. 154 and Job No. 155. These jobs had combined direct materials costs of $9,750 and direct labor costs of $15,000 Overhead was applied at a rate that was 75% of direct labor cost During December, Job Nos. 156, 157 and 158 were started on December 31, Job No 158 was unfinished This job had charges for direct materials $3,800 and direct labor $4,800 plus manufacturing overhead. All jobs, except for Job No. 158, were completed in December On December 1, Job No 153 was in the finished goods warehouse. It had a total cost of $5,000. On rannmhor at In 167thanninh tiniched that went all thadarnet of Ann 5205 5200 2013 20.5A CO2O 34 35 36 37 On December 1, two jobs were in process: Job No. 154 and Job No. 155. These jobs had combined direct materials costs of $9,750 and direct labor costs of $15,000. Overhead was applied at a rate that was 75% of direct labor cost During December, Job Nos. 156, 157 and 158 were started on December 31, Job No. 158 was unfinished. This job had charges for direct materials $3,800 and direct labor $4,800 plus manufacturing overhead. All jobs, except for Job No 158, were completed in December On December 1, Job No 153 was in the finished goods warehouse. It had a total cost of $5,000. On December 31, Job No. 157 was the only job finished that was not sold. It had a cost of $4,000 Manufacturing overhead was $1,470 underapplied in December structions st the items through (m) and indicate the amount pertaining to each letter. TE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?". @ Beginning balance raw materials Total requisitions Ending balance, raw materials Less purchases Beginning balance, raw materials $16,850 8.395 (17 725) $9,310 39 4. Manufacturing overhead was $1.470 underapplied in December. 40 41 Instructions 42 List the items (a) through (m) and indicate the amount pertaining to each letter. 43 NOTE: Enter a number in cells requesting a value; enter either a number or a 44 45 46 (a) Beginning balance, raw materials 47 Total requisitions 48 Ending balance, raw materials 49 Less: purchases 50 Beginning balance, raw materials 51 52 53 ) Beginning work in process (Job 154 & Job 155) Direct materials 55 Direct labor 56 Overhead applied 57 58 59 (c) Direct materials Requisitions of raw materials E20,5 P20.5A 54 60 E20.9 P20.3A CD20 (c) Direct materials Requisitions of raw materials Less: indirect materials Direct materials 1 5 (d) Overhead applied 6 Direct labor 57 Overhead applied 68 (75% of DL) 69 70 7. (e) Ending work in process (Job No. 158) 2 Direct materials 73 Direct labor 74 Overhead applied 75 76 77 78 (0) Completed Jobs (Jobs 154-167) 5205 220.9 P203A P20.5A COZO Type here to search o 1 Direct materials Direct labor Overhead applied (0) Completed Jobs (Jobs 154 -157) Beginning balance, work in process 3 Direct materials 1 Direct labor Overhead applied Less ending work in process Jobs completed 32 36 87 (g) Beginning balance, finished goods (Job 153) 88 89 90 (h) Jobs completed 91 E20 20.9 2203A P20.5A CD20 Type here to search O EH E 14 0 9) Beginning balance, finished goods (Job 153) (h) Jobs completed 10 Cost of goods sold Beginning finished goods 5 Jobs completed 6 Less: ending finished goods 7 Cost of goods sold 28 9 0 0 Ending finished goods (Job 157) 101 102 103(k) Wages assigned to work in process 104 105 (0) Indirect labor 106 Factory wages 107 Less, direct labor 108 Indirect labor E20 E200 P23 P20.5A CD 20 Peso Type here to search o . 16 2 (k) Wages assigned to work in process 3 (1) Indirect labor Factory wages Less direct labor Indirect labor 9 10 1 (m) Overhead applied T Direct labor Overhead applied 116 117 118 When you have completed P20.5A, consid the following additional question 119 1 Assume that requisitions changed to $17,600 Show the impact of this 120 change on the items listed 121 123 E20.5 E20. P20,3A P20.5A CD20 Reso Type here to search 40