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**** Your answer is partially correct. 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 $15,100. 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 $3,900 and direct labor $4,900, 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 $4,100. 4. Manufacturing overhead was $895 underapplied in December. List the letters (a) through (m) and indicate the amount pertaining to each letter. Raw Materials Inventory Dec. 1 Beginning balance Requisitions 16,950 7700 (a) Dec. 31 List the letters (a) through (m) and indicate the amount pertaining to each letter. Raw Materials Inventory Dec. 1 Beginning balance 7700 31 Purchases 17,325 Dec. 31 Ending balance. Dec. 1 Beginning balance 31 Direct materials 31 Direct labor 31 Overhead Dec. 31 Ending balance i Dec. 1 Beginning balance 31 Completed jobs 8,075 Work in Process Inventory 36275 (b) Dec. 31 15575 (c) 8,900 (a) Dec. 31 46050 6675 (d) 12475 (e) Finished Goods Inventory 5100 (g) Dec. 31 (h) Requisitions Jobs completed Cost of goods sold 16,950 46050 47050 E Dec. 1 Beginning balance 31 Direct materials 31 Direct labor 31 Overhead Dec. 31 Ending balance Dec. 1 Beginning balance 31 Completed jobs Dec. 31 Ending balance Dec. 31 Factory wages Work in Process Inventory 36275 (b) Dec. 31. Jobs completed 15575 (c) Cost of goods sold 8,900 6675 (d) 12475 (e) Finished Goods Inventory 5100 (g) Dec. 31 (h) 4100 (j) Factory Labor Dec. 31 46050 12,125 Wages assigned 46050 47050 (1) 12125 (k) Dec. 1 Beginning balance 31 Completed jobs Dec. 31 Ending balance Dec. 31 Factory wages Dec 31 Indirect materials 31 Indirect labor 31 Other overhead Finished Goods Inventory 5100 (g) Dec. 31 46050 (h) 4100 () Factory Labor 12,125 Dec. 31 Manufacturing Overhead 3,000 6675 1,345 (1) Cost of goods sold Wages assigned Dec. 31 Overhead applied 47050 12125 (k) 3225 (m) E