Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

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 une 1, 2017 the general ledger for Case Inc. contains the following data. Raw Materials Inventory 4,284 Manufacturing overhead Applied 33,293 work in Process Inventory 5,652 Manufacturing overhead Incurred 32,2a3 Subsidiary data for Work in Process Inventory on une 1 are as follows. Job Cost Sheets Cust Direct materials 612 816 918 Direct labor 326 55 592 Manufacturing overhead 408 89 740 1346 2,056 2,250 During June, raw materials purchased on account were 4,998, and all wages were paid. Additional overhead costs consisted of depreciation on equipment 91B and miscellaneous costs of $408 incurred on account. A summary of materials requisition slips and time tickets for lune shows the following. Materials Requisition Customer Job Rodgers 816 867 Koss 2,040 816 367 Stevens Linton 1,326 1,224 Rodgers 306 39a. 4,998 3,672 General use 1,530 224 6,529 4,896 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 19,278.Each customer paid in full. 1) for purchase o aw materials, factory labor cost incurred d manufacturing overhead costs incurred; (2) assignment ect materials, labor, and overhead to produ n; and (3) completion o obs and ournalize the June ransactions 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.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Auditing And Other Assurance Services

Authors: Ray Whittington, Kurt Pany

19th International Edition

125909524X, 9781259095245

More Books

Students also viewed these Accounting questions

Question

4. Describe phases of majority identity development.

Answered: 1 week ago