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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 Work in Process Inventory $4,600 $5,350 Manufacturing Overhead Applied Manufacturing Overhead Incurred $35,400 $32,100 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 $600 $700 300 500 375 625 $1,275 $1,825 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 costs of $400 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Customer Job Materials Requisition slips Time Tickets Rodgers Koss Stevens Linton $800 1,800 400 1,300 400 4,700 1,400 $6,100 $800 900 300 1,300 400 3,700 1,000 $4,700 Rodgers General use 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 $20,600. 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 titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (1) TRaw Materials Inventory 4700 Accounts Payable 4700 (To record purchase of raw materials) Factory Labor T Cash 4700 (To record factory labor costs paid) Manufacturing Overhead Accumulated Depreciation Equipment 1000 Accounts Payable 400 (To record manufacturing overhead costs incurred) (2) Work in Process Inventory Manufacturing Overhead 6750 T Raw Materials Inventory (To record assignment of direct materials) Work in Process Inventory Manufacturing Overhead 1000 Factory Labor 4700 (To record assignment of factory labor) Work in Process Inventory | Manufacturing Overhead 4625 (To record assignment of manufacturing overhead) (3) Finished Goods Inventory 14200 7 Work in Process Inventory 14200 (To record completion of jobs) Cash 20600 12 T Sales Revenue 20600 (To record sale of goods) TCost of Goods Sold 14200 Fi 14200 (To record the cost of goods sold) Your answer is partially correct. Try again. 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 Balance 5 350June Completed Work 14200 Direct Materials IT 6100 Balance Direct Labor T 3700 Overhead Applied 4625 6/30 Balance T SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO Your answer is partially correct. Try again. Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. Tross art 210. Direct Labor. Koss 2100 200 Manufacturing Overhead I 125 - U Costs of unfinished Job: 4125 4123 Direct Materials su + Direct Labor SL J + Manufacturing Overhead $ SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO Your answer is partially correct. Try again. Prepare a cost of goods manufactured schedule for June. CASE INC. Cost of Goods Manufactured Schedule For the Year Ended June 30, 2020 Work in Process, June 1 5125 Direct Materials Used 6700 * Direct Labor 3600 Manufacturing Overhead Applied 4500 T Total Manufacturing Costs 14800 Total Cost of Work in Process 19925 Work in Process, June 30 5725 Cost of Goods Manufactured 14200 Click if you would like to Show Work for this question: Open Show Work
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