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On September 1, two jobs were in process at Pete's Patios. Details of the jobs follow: Job Number PP-24 PP-30 Direct Materials $1,120 575 Direct
On September 1, two jobs were in process at Pete's Patios. Details of the jobs follow: Job Number PP-24 PP-30 Direct Materials $1,120 575 Direct Labor $ 414 1,670 Materials Inventory on September 1 totaled $5,550, and $718 worth of materials was purchased during the month. Indirect materials of $86 were withdrawn from materials inventory. On September 1, finished goods inventory consisted of two jobs, PP-12, costing $2,350, and PP-14, with a cost of $962. Costs for both jobs were transferred to Cost of Services Billed during the month. Also during September, Jobs PP-24 and PP-30 were completed. Completing Job PP-24 required an additional $1,360 in direct labor. The completion costs for Job PP-30 included $680 in direct materials and $3,800 in direct labor. Pete's Patios used a total of $1,948 of direct materials (excluding the $86 indirect materials) during the period, and total direct labor costs during the month amounted to $8,220. Overhead has been estimated at 50 percent of direct labor costs, and this relation has been the same for the past few years. Required: Compute the costs to Jobs PP-24 and PP-30 and the balances in the September 30 inventory accounts. Cost to complete PP-24 Cost to complete PP-30 Balance of Materials Inventory as of September 30 Balance of Work-in-Process as of September 30 Balance of Finished Goods Inventory as of September 30 $ $ $ 2,040 6,380 4,234
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