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please help!!! I cant figure out the balance for 6/30 Sheridan Inc. is a construction company specializing in custom patios. The patlos are constructed of
please help!!! I cant figure out the balance for 6/30
Sheridan Inc. is a construction company specializing in custom patios. The patlos are constructed of concrete, brick, Hibertass, and lumber, depending on customer preference. On June 1, 2022, the general ledger for Sheridan Inc. contains the following data $4,400 $31.800 Raw Materials Inventory Work in Process Inventory Manufacturing Overhead Applied Manufacturing Overhead Incurred $5,450 $ 30,200 Subsidiary data for Work in Process inventory on June 1 are as followi. Job Cost Sheets Customer Job Stevens Linton Rodgers Cost Element $ 600 $700 $1,000 Direct materials 300 500 600 Direct labor 375 625 750 Manufacturing overhead $ 1.275 $ 1,825 $ 2350 @ During June, raw materials purchased on account were $ 5,100 and $ 5,100 of factory wages were paid. Additional overhead costs consisted of depreciation on equipment $ 900 and miscellaneous costs of $ 400 incurred on account A summary of materials requisition slips and time tickets for June shows the following. Customer Job Materials Requisition Slips Time Tickets Rodgers $700 $ 900 Koss 2.200 900 Stevens 500 400 Linton 1,400 1.200 Rodgers 300 400 5,100 3,800 General use 1,600 1,300 $ 6,700 $ 5.100 Overhead was assigned to jobs at the same rate of $ 1.25 per dollar of direct labor cost throughout the year. The patios for customers Rodgers, Stevens, and Linton were completed during June and sold for a total of $ 18,900. Each customer paid in full at the time of sale. Your answer is partially correct. 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 Balance 5450 June Completed Work 14875 Direct Materials 5100 Direct Labor 3800 4750 Overhead Applied 3775 6/30 Balance Step by Step Solution
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