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please help Cullumber Corporations fiscal year ends on June 30. The following accounts are found in its job-order cost accounting system for the first month
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Cullumber Corporations fiscal year ends on June 30. The following accounts are found in its job-order cost accounting system for the first month of the new fiscal year:
Cullumber Corporation's fiscal year ends on June 30. The following accounts are found in its job-order cost accounting system for the first month of the new fiscal year: Raw Materials Inventory July 1 Beginning balance July 31 Requisitions (a) 15,700 31 Purchases 91,400 July 31 Ending balance (b) Work in Process Inventory July 1 Beginning balance July 31 Jobs completed (f) (c) 31 Direct materials 74,500 31 Direct labour (d) . 31 Overhead (e) July 31 Ending balance Finished Goods Inventory July 1 Beginning balance July 31 Cost of goods sold (1) (h) 31 Jobs completed (0) July 31 Ending balance (k) Factory Labour July 31 Factory wages (1) July 31 Wages assigned (m) Manufacturing Overhead July 31 Indirect materials July 31 Overhead applied 115,000 8,500 31 Indirect labour 15,000 31 Other overhead (n) Other data: 1. On July 1, two jobs were in process: Job No. 4085 and Job No. 4086, with costs of $19,900 and $13,200, respectively. 2. During July, Jobs 4087,4088, and 4089 were started. On July 31, only Job No. 4089 was unfinished. This job had charges for direct materials of $2,080 and direct labour of $1,500, plus manufacturing overhead. Manufacturing overhead was applied at the rate of 125% of direct labour cost. 3. On July 1, Job No. 4084, costing $145,500, was in the finished goods warehouse. On July 31, Job No. 4088, costing $138,100, was in finished goods. 4. Overhead was $3,250 under-applied in July. Indicate the amount pertaining to each letter. (a) $ (b) ) $ (c) $ (d) $ (e) $ (f) $ (g) $ (h) $ (0) $ (5) i $ (k) $ (1) $ (m) $ In) $Step by Step Solution
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