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P2-5B Bell Company's fiscal year ends on lune 30. The following accounts are found in lts Analyes ung iob order cost accounting system for the
P2-5B Bell Company's fiscal year ends on lune 30. The following accounts are found in lts Analyes ung iob order cost accounting system for the first month of the new fiscal year arsfcturing aecoonts and derenine issing amonts L0 2, 3, 4,5, 6),A Raw Materials Inventory Jdly 1 Begianing balance 19,000 July 31 Requisitions 31 Purchases July 31 Ending balance 90,400 Work in Process Inventory IE) ly1 Beginning balace (e) July 31 Jobs completed 31 Direct materials 80,000 31 Direct labor 31 Overhead July 31 Ending balance Cegiaing balnceJuly 31 Cost of goods sold Completed jobs 31 Tuly 31 Ending balance Factory Labor Factory waBes uly 31 Wages assigned July 31 Manufacturing Overhead July 31 Indirect materials 8,900July 3 Overbead applied 117,000 16,000 31 Indirect labor 31 Other overbead Other data: 1. On July L, two jobs were in process: Job No. 4085 and Job No. 4085, with costs of 519.000 and $8,200, respectively 2. During Tuly, Job Nos. 4087, 4088, and 4089 were started. On July 31, only Job No. 4089 was unfinished. This job had charges for direct materials $2,000 and direct labor $1,500, plus manufacturing overhead. Manufacturing overhead was applied at the rate of 130% of direct labor cost 3. On July L, Jab No. 4084, costing $145,000, was in the finished goods warehouse. On July 31, Job No. 4088, costing $138,000, was in finished goods. 4. Overhead was $3,000 underapplied in July Instructions List the letters (a) through (n) and indicate the amount pertaining to each letter. Show computations. (c) 5 90,030 5308,750 $106,000
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