Paid rent for the month, S4,[}[} total, 85% for space deyoted to Jan 2 manufacturing the products, 15% for office space. 2 Paid Hardware For All 5829 in payment of the December 31 balance. Receiyed a check from Fun For All Backyard Games for $1,23 in partial payment of their December 31 balance. Purchased manufacturing supplies on account from Local Got It All, $325. Sold a medium Giant Jenga game from inyentory for Cash. Receiyed $546. |Dur cost was 53912}. Received an order for a large Falling Orbs game from a cash customer. Set up job 12E. Began working on the job by applying $12I of direct materials {requisition number 59}. Wheneyer we use direct materials on a job we will also apply Factory Dyerhead ata rate of 40% of the direct materials cost. We also applied $80 of direct labor {time ticket 43}. Wheneyer we haye direct labor we will debit Work in Process {WIP} for the total gross wages, credit Employees Federal Income Tax Payable for 15% of the total direct labor, credit FICA Tax Payable for 2.65% of total direct labor, and credit Salaries Payable for the difference to get total debits to equal total credits. If needed, always round your numbers to the nearest cent. If your answer goes to three decimal places, if the third number on the right of the decimal is 4 or lower drop off the numbers and leave the number in the cent place {second number} as it is. If the third number is 5 or larger, round the second number up 1 place. |.E. 128.914 = 128.91 - I I I \fRecorded the sale of Job 126 to the cash customer reporting the sale at 15 the retail price of $622 and moying our cost of finished goods into Cost of Goods Sold. Paid Utility bill, $510. 85% for manufacturing area, 15% for 15 _ nonmanufactunng area. Added $1,150 of materials to job 125 (requisition number 61}. 16 Remember to also apply factory oyerhead as shown earlier. Also added $1,462 of labor (time ticket 513}. Remember to withheld taxes as shown earlier. This finished offjob 125. 15 Sold job 125 to Oversize Games on account. Sales price is $8,010.80. Determine our total cost from the job cost records. Received an order for a medium bean bag game from a cash customer. Set up job 12?. Began working on the job by applying $40 of direct 1? materials {requisition number 52}, applying factory oyerhead, and applying $20 of direct labor {time ticket 51} withholding the appropriate taxes. Receiyed an order for 3 large Falling Orbs and 2 Medium Falling Orbs from Fun For All Backyard Games. Set upjob 123. Began working on 21 the job by applying S22D of direct materials {requisition number 55}, apply factory oyerhead,r and $410 of direct labor {time ticket number 52} withholding taxes. Sold 2 large Giant Jenga games and 1 large Falling Orbs game to a cash customer from inyentory. Our cost is 58212}. Sales price is $1,213.