Problem 20-03A a-d (Video) Crane 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 Crane Inc. contains the following data. Raw Materials Inventory Work in Process Inventory $3,800 Manufacturing Overhead Applied $4,800 Manufacturing Overhead Incurred $35,800 $29,800 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Stevens Linton $800 $800 Cost Element Direct materials Direct labor Manufacturing overhead Rodgers $500 200 250 500 625 500 625 $1,925 $950 $1,925 During June, raw materials purchased on account were $4,700, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $900 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 $800 2,000 $800 800 Stevens 400 300 Linton 1,200 1,200 400 Rodgers 300 General use 4,700 1,300 $6,000 3,500 1,100 $4,600 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 $19,900. Each customer paid in full. Your answer is partially correct. Try again. 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 4700 Accounts Payable 4700 (To record purchase of raw materials) Factory Labor 4400 x cash 4400 (To record factory labor costs paid) Manufacturing Overhead 1200 Manufacturing Overhead 1200 Accumulated Depreciation-Equipment 800 Accounts Payable 400) (To record manufacturing overhead costs incurred) (2) Work in Process Inventory 4700 Manufacturing Overhead 1300 M Raw Materials Inventory 60001 (To record assignment of direct materials) Work in Process Inventory 3500 Manufacturing Overhead 1100 Factory Labor 4600 (To record assignment of factory labor) Work in Process Inventory 4600 Manufacturing Overhead 4600 (To record assignment of manufacturing overhead) (3) Finished Goods Inventory 12800 X Work in Process Inventory 12800 (To record completion of jobs) cash 19900 Sales Revenue 19900 (To record sale of goods) Cost of Goods Sold 12800 Finished Goods Inventory 12800 (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 X 6/1 Balance 12800||| June June Completed Work 12800 Direct Materials 4700 Work in Process Inventory 6/1 Balance 12800|| June Completed Work 12800 Direct Materials 47001 Direct Labor 35001 X Overhead Applied 4600 x 6/30 Balance 12800 Your answer is partially correct. Try again. Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. Koss 2000 800 1125 4125 Costs of unfinished Job: Direct Materials + Direct Labor $ + Manufacturing Overhead $ = $1 Your answer is partially correct. Try again. Prepare a cost of goods manufactured schedule for June. CRANE INC. Cost of Goods Manufactured Schedule June 30, 2020 Work in Process, June 1 4800 Direct Materials Used 4700 Direct Labor 3500 Manufacturing Overhead Applied 4600 Total Manufacturing Costs 12800 Total Cost of Work in Process 17600 X Less Work in Process, June 30 4125 Cost of Goods Manufactured 14200 Click if you would like to Show Work for this question: Open Show Work