P20.5 (LO 1, 2, 3, 4, 5), AN 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. Raw Materials Inventory Dec. 31 Dec. 31 Dec. 31 Dec. 1 Beginning balance 31 Direct materials 31 Direct labor 31 Overhead Dec. 31 Ending balance Dec. 31 Dec. 31 Dec. 31 Dec. 31 Beginning balance Purchases Ending balance 31 Beginning balance Jobs completed Ending balance Factory wages Indirect materials Indirect labor Other overhead (a) 17,225 7,975 Work in Process Inventory (b) Dec. 31 (c) 8,400 (d) (e) Finished Goods Inventory (g) Dec. 31 (h) (j) Factory Labor 12,025 Dec. 31 Requisitions Manufacturing Overhead 2,900 Dec. 31 (1) 1,245 Jobs completed Cost of goods sold Wages assigned Overhead applied 16,850 (f) (1) (k) (m)

P20.5 (LO 1, 2, 3, 4, 5), AN Phillips Corporation's fiscal year ends on November 30 . The following accounts are found in its iob order cost accountine svstem for the first month of the new fiscal vear. 1. 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 combined direct labor costs of \\( \\$ 15,000 \\). Overhead was applied at a rate that was \75 of direct labor cost. 2. 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. 3. 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 finished job that was not sold. It had a cost of \\( \\$ 4,000 \\). 4. Manufacturing overhead was \\( \\$ 1,470 \\) underapplied in December