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Part A: Part B: Part C/D: Case Inc is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and
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Part B:
Part C/D:
Case Inc is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2020, the general ledger for Case Inc. contains the following data. Raw Materials Inventory $4,500 Manufacturing Overhead Applied $35.900 Work in Process Inventory $5,675 Manufacturing Overhead Incurred $29,300 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Rodgers Stevens Direct materials $600 $900 Direct labor 600 Manufacturing overhead 375 750 $1,275 $2.250 Linton $800 300 600 750 $2.150 During June raw materials purchased on account were $5,200, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $800 and miscellaneous costs of $500 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Time Tickets $700 800 Customer Job Rodgers Koss Stevens Linton Rodgers Materials Requisition Slips $800 2,200 400 1,500 300 5,200 1,600 $6,800 300 1,300 300 3,400 1.300 $4,700 General use Overhead was charged to jobs at the same rate of $1.25 per dollar of direct labor cost. The patios for customers Rodgers, Stevens, and Linton were completed during June and sold for a total of $18,000. Each customer paid in full. Journalize the June transactions: (1) for purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred: (2) assignment of direct materials, labor, and overhead to production, and (3) completion of jobs and sale of goods. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (To record purchase of raw materials) (To record factory labor costs paid) (To record manufacturing overhead costs incurred) (2) (To record assignment of direct materials) (To record assignment of factory labor) (To record assignment of factory labor) (To record assignment of manufacturing overhead) (3) (To record completion of jobs) (To record sale of goods) (To record the cost of goods sold) Post the entries to Work in Process Inventory. (Post the entries to Work in Process Inventory in the order presented in the problem.) Work in Process Inventory 6/1 June > > $ $Step by Step Solution
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