Please ignore the answers already filled... I forgot to delete my guesses.
Problem 16-3A Case Inc. is a construction 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 following data. Raw Materials Inventory Work in Process Inventory $4,956 $6,538 Manufacturing Overhead Applied Manufacturing Overhead Inourred $ 38,515 $ 37,347 Subsidiary data for Work in Process Inventory on June 1 are as follows. Cost Element Direct materials Direct labor Manufacturing overhead Job Cost Sheets Customer Job Rodgers Stevens $ 708 $ 944 378 637 472 797 $ 1,558 $ 2,378 Linton $1,062 684 856 $ 2,602 During June, raw materials purchased on account were $ 5,782, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $ 1,062 and miscellaneous costs of $ 472 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Customer Job Rodgers Koss Stevens Linton Rodgers Materials Requisition Slips $ 944 2,360 590 1,534 354 5,782 1,770 $ 7,552 Time Tickets $ 1,003 944 425 1,416 460 4,248 1,416 $ 5,664 General use Overticad was charged to jobs at the same rate of 5 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 $ 22,302. Each customer paid in full. Journalize the June transactions: (1) for purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred; (2) assignment of direct materials, labor, and overhead to production; and (3) completion of jobs and sale of goods. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 2,500.) Debit Credit No. Account Titles and Explanation (1) Raw Materials Inventory 5,782 5,782 Accounts Payable (To record purchase of raw materials) Factory Labor 5,664 Cash 5,664 (To record factory labor costs paid) Manufacturing Overhead 1,534 Accumulated Depreciati 1,062 472 Accounts Payable (To record manufacturing overhead costs incurred) (2) Work in Process Inventory 5,782 1,770 Manufacturing Overhead 7,552 Raw Materials Inventor (To record assignment of direct materials) Work in Process Inventory 4,248 1,416 Manufacturing Overhead Factory Labor 5,664 (To record assignment of factory labor) Work in Process Inventory 5310 Manufacturing Overhea 5310 (To record assignment of manufacturing overhead) (3) Finished Goods Inventory Work in Process Inventory (To record completion of jobs) Cash Sales Revenue (To record sale of goods) Cast of Goods Sold Finished Goods Inventory (To record the cost of goods sold) SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR PROBLEM Post the entries to Work in Process Inventory. (Round answers to o decimal places, e.g. 2,500.) Work in Process Inventory June 6/1 - 6/30 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT VIDEOI SIMILAR PROBLEM Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. (Round answers to 0 decimal places, e.g. 2,500.) Costs of unfinished Job: Direct Materials $ + Direct Labor $ + Manufacturing Overhead $ SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR PROBLEM Prepare a cost of goods manufactured schedule for June. (Round answers to O decimal places, e.g. 2,500.) CASE INC. Cost of Goods Manufactured Schedule For the Year Ended June 30, 2017 , Work in Process, lune 30 6,538 5,782 Direct Materials Used Direct Labor 4,248 Manufacturing Overhead Applied : 5310 Total Manufacturing Costs 15,340 Total Cost of Work in Process 21878 Less Work in Process, June 30 Prepare a cost of goods manufactured schedule for Junc. (Round answers to O decimal places, c.g. 2,500.) CASE INC Cost of Goods Manufactured Schedule For the Year Ended June 30, 2017 Work in Process, June 30 : 6,538 Direct Materials Used 5,782 Direct Labor 4,248 Manufacturing Overhead Applied : 5310 Total Manufacturing Costs 15,340 Total Cost of Work in Process : 21878 Less: Work in Process, lune 30 Cost of Goods Manufactured SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT VIDEO: SIMILAR PROBLEM By accessing this Question Assistance, you will leam while you earn points based on the Point Potential Policy set by your instructor
