Phillips Corporation's fiscal year ends on November 30.

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Problem 2-5A (Video) 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 Other data: 1 On December 1, two jobs were in process: Job No. 154 and Job No. 155. These jobs had combined direct materials costs of $9,850 and direct labor costs of $15,800 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 4.500 and direct labor $5,100, 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 $5,100. On December 31, Job No. 157 was the only job finished that was not sold. It had a cost of $4,500 4 Manufacturing overhead was $1,120 underapplied in December List the letters (a) through (m) and indicate the amount pertaining to each letter Raw Materials Inventory (a) Dec. 31 Requisitions 18,850 Dec. 1 Beginning balance 31 Purchases Dec. 31 Ending balance 17,825 8.145 Work in Process Inventory (b) Dec. 31 Jobs completed Dec. 1 Beginning balance 31 Direct materials 31 Direct labor ( 9,000 (d) 31 Overhead Dec 31 Ending balance e Finished Goods Inventory (9) Dec. 31 Cost of goods sold Dec. 1 Beginning balance 31 Completed jobs Dec. 31 Ending balance 6) Dec. 31 Factory wages Factory Labor Wages assigned Manufacturing Overhead 3.000 Dec. 31 Overhead applied 12,125 Dec 31 (k) Dec. 31 Indirect materials 31 Indirect labor 31 Other overhead 1.745 Click if you would like to show Work for this question: Open Shew Works