Problem 15-03A a-d (Video) Sheridan Inc. is a construction company specializing in custom patios. The patios are constructe of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 202 the general ledger for Sheridan Inc. contains the following data. Raw Materials Inventory Work in Process Inventory $3,900 Manufacturing Overhead Applied $5,475 Manufacturing Overhead Incurred $31,800 $34,600 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 $500 $700 300 600 375 750 $1,175 $2,050 Linton $900 600 750 $2,250 During June, raw materials purchased on account were $4,700, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $1,000 and miscellaneous cost of $300 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Time Tickets $900 Customer Job Rodgers Koss Stevens Linton Rodgers 900 Materials Requisition Slips $800 1,900 500 1,300 200 4,700 1,400 $6,100 400 1,200 400 3,800 200 General use 000 Overhead was charged to jobs at the same rate of $1.25 per dollar of direct labor cost. The patio for customers Rodgers, Stevens, and Linton were completed during June and sold for a total of $17,400. 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 ar automatically indented when amount is entered. Do not indent manually.) Debit Credit No. Account Titles and Explanation (1) (To record purchase of raw materials) (To record factory labor costs paid) (To record manufacturing overhead costs incurred) (2) (To record assignment of direct materials) (To record assignment of factory labor) (To record assignment of manufacturing overhead) (3) (To record completion of jobs) (To record sale of goods) (To record the cost of goods sold) SHOW LIST OF ACCOUNTS Droommato- ^ Document2 - Word e Search 890 = Insert Draw Design Layout References Mailings Review View Help LABLE Updates for Office are ready to be installed, but first we need to close some apps. Update now LINK TO TEXT VIDEO SIMILAR PROBLEM LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT 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 June 6/1 6/30 SHOW LIST OF ACCOUNTS VIDEO SIMILAR PROBLEM LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. Costs of unfinished Job: Direct Materials + Direct Labor + Manufacturing Overhead $ 483 words SHOW LIST OF ACCOUNTS VIDEO: SIMILAR PROBLEM LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT Prepare a cost of goods manufactured schedule for June. SHERIDAN INC. Cost of Goods Manufactured Schedule Click if you would like to Show Work for this question Open Show Work Focus mi (2) A
