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Please explain how you arrive at each cost. *Problem 15-3A followine dat sruction company specializing in custom patios. The patios are constructed of concrete, brick,
Please explain how you arrive at each cost.
*Problem 15-3A followine dat sruction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2017, the general ledger for Case Inc. contains the Manufactu Manufacturing Overhead Incurred Work in Process Inventory 56.648 s37.980 June 1 are as follows Subsidiary data for Work in Process Inventory Job Cost Sheets Customer Job Cost Element Rodgers Linton Dircct materials $720 5960 51.080 Direct labor 384 648 690 Manufacturing overhead 810 870 48 1,584 $2,418 $2,646 $480 incurred on account During lune, raw materials purchased r account were $5,880, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $1,080 and miscellaneaus costs materials requisition slips and time tickets for June shows the following. A summary Customer Job Materials Requisition Slins Lime Tickets Rodgers 4960 1,020 Stevens 1,560 Linton 1,440 Rodgers 360 468 5,880 General use $5,760 7.680 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 $22.680, Each customer paid in full. Journalize the lune transactions: (1) for purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred; (2) assignment direct materials, labor, and overhead to production; and (3) completion of jobs and goods. (Credit account titles are automatically indented when amount entered. Do not indent manually. Round answers to 0 decimal places, eg. 2,500.) sale o Debit Credit No. Account Titles and Explanation 1) 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) (lo record assignment of factory labor) CTo record assignment manufacturina overhead) (31 (To record complction of jobs) (To record sale f goads) (To record the cost of goods sold) Post the entries to Work in Process Inventary. (Round answers to 0 decimal places, e.q. 2,500.) Work in Process Inventory 6/1 June 6/30 Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. (Round answers to 0 decimal places, e.q. 2,500.) +Manufacturing Overhcad S s sts d oufactured schedule for une (Round answers to decimal places, Cost of Goods Manufactured ScheduleStep by Step Solution
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