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Problem 15-03A Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer
Problem 15-03A 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, 2020, the general ledger for Case Inc. contains the following data. Raw Materials Inventory $3,900 Manufacturing Overhead Applied $30,700 Work in Process Inventory $5,675 Manufacturing Overhead Incurred $32,000 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Rodgers Stevens Linton Direct materials $500 $800 $1,000 Direct labor 400 500 600 Manufacturing overhead 500 625 750 $1,400 $1,925 $2,350 During June, raw materials purchased on account were $5,000, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $1,000 and miscellaneous costs of $400 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Customer Materials Requisition Time Job Slips Tickets Rodgers $900 $900 Koss 1,800 800 Stevens 600 400 Linton 1,400 1,300 Rodgers 300 400 5,000 3,800 General use 1,400 1,200 $6,400 $5,000 Overhead was charged to jobs at the same rate of $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 $20,800. 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.) No. Account Titles and Explanation Debit Credit (1) Raw Materials Inventory Accounts Payable (To record purchase of raw materials) Factory Labor Cash (To record factory labor costs paid) Manufacturing Overhead Accumulated Depreciation Equipment Accounts Payable (To record manufacturing overhead costs incurred) 2) Work in Process Inventory Manufacturing Overhead Raw Materials Inventory (To record assignment of direct materials) Work in Process Inventory Manufacturing Overhead Factory Labor (To record assignment of factory labor) (To record assignment of manufacturing overhead) (3) (To record completion of jobs) (To record sale of goods) Finished Goods Inventory Work in Process Inventory (To record the cost of goods sold) SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO 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 June | ) 6/30 Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. Costs of unfinished Job: Direct Materials $ + Direct Labor $ + Manufacturing Overhead $ -$ CASE INC. Cost of Goods Manufactured Schedule U $ $ S Click if you would like to Show Work for this question: Open Show Work
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