Post the entries to Work in Process Inventory. Prepare a cost of goods manufactured schedule for June.

An incomplete cost of goods manufactured schedule is presented below. Complete the cost of goods manufactured schedule for Molina Company. MOLINA COMPANY Cost of Goods Manufactured Schedule For the Year Ended December 31, 2014 Work in process (1/1) Direct materials $206,890 Raw materials inventory (1/1) Add: Raw materials purchases Total raw materials available for use Less: Raw materials inventory (12/31) Direct materials used $ 284370 153,090 131280 21,810 $191,620 Direct labor 70400 Manufacturing overhead Indirect labor Factory depreciation Factory utilities Total overhead $16,690 35,170 69,360 121,220 Total manufacturing costs 328110 Total cost of work in process 318430 Less: Work in process (12/31) Cost of goods manufactured 79,680 $527,400 Don't show me this message again for the assignment Problem 20-3A Stellar 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, 2014, the general ledger for Stellar Inc. contains the following data. Raw Materials Inventory $3,850 Work in Process Inventory $5,790 Manufacturing Overhead Applied Manufacturing Overhead Incurred Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job $32,240 $31,680 Ganno n $680 360 Cost Element Direct materials Direct labor Manufacturing overhead Rosentha l $790 580 Linton $840 510 504 812 714 $1,544 $2,182 $2,064 During June, raw materials purchased on account were $4,150, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $730 and miscellaneous costs of $490 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Customer Job Gannon Koss Rosenthal Linton Gannon General use Materials Requisition Slips $780 1,820 510 1,910 220 5,240 1,360 $6,600 Time Tickets $570 900 490 1,550 290 3,800 1,910 $5,710 Overhead was charged to jobs at the same rate of $1.40 per dollar of direct labor cost. The patios for customers Gannon, Rosenthal, and Linton were completed during June and sold for a total of $18,500. Each customer paid in full. Don't show me this message again for the assignment Your answer is correct. Journalize the June transactions: (i)(a) for purchase of raw materials, (b) factory labor costs incurred, and (c) manufacturing overhead costs incurred; (ii)(a) assignment of direct materials, (b) labor, and (c) overhead to production; and (iii) completion of jobs and sale of goods. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. (i)(a) Account Titles and Explanation Raw Mater Accounts P Debit Credit 4150 4150 (i)(b) Factory La 5710 Cash (i)(c) Manufactur 5710 1220 Accumulate Accounts P (ii) (a) 730 490 Work in Pro 5240 Manufactur 1360 Raw Mater (ii) (b) 6600 Work in Pro 3800 Manufactur 1910 Factory La (ii) (c) Work in Pro 5710 5320 Manufactur (iii) Finished Go 5320 16170 Work in Pro Cash 16170 18500 Sales Reve 18500 (To record the sale) Cost of Go Finished Go (To record the cost of goods sold) 16170 16170 Don't show me this message again for the assignment Show List of Accounts Link to Text Your answer is partially correct. Try again. Post the entries to Work in Process Inventory. (Post entries in the order of journal entries passed in the previous part.) Work in Process Inventory res_EAT_135840 res_EAT_135840 5710 6/1 Balance 18500 June Completed Work res_EAT_135840 2310 Direct Materials res_EAT_135840 1450 Direct Labor res_EAT_135840 2030 Overhead Applied res_EAT_135840 11500 6/30 Balance Don't show me this message again for the assignment Show List of Accounts Link to Text Your answer is partially correct. Try again. Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. Work in Process Inventory $ 5240 Job: res_EAT_135840 $ 3800 Koss Don't show me this message again for the assignment Show List of Accounts Link to Text Your answer is partially correct. Try again. Prepare a cost of goods manufactured schedule for June. STELLAR INC. Cost of Goods Manufactured Schedule For the Month Ended June 30, 2014 res_EAT_135840 $ 18500 Work in Process, June 1 res_EAT_135840 $ 5240 Direct Materials Used res_EAT_135840 Direct Labor res_EAT_135840 32,240 Manufacturing Overhead Applied res_EAT_135840 Total Manufacturing Costs res_EAT_135840 Total Cost of Work in Process : res_EAT_135840 Less Work in Process, June 30 res_EAT_135840 Cost of Goods Manufactured res_EAT_135840