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Really need help in this one. Thank you in advance! Materials June 1 Requisitions (A) Balance Purchases 33,500 June 30 134,4001 June 30 Work in
Really need help in this one. Thank you in advance!
Materials June 1 Requisitions (A) Balance Purchases 33,500 June 30 134,4001 June 30 Work in Process June 1 Balance Completed jobs (F) June 30 Materials (B)June 30 (C) (D) (E) June 30 Direct labor June 30 Factory overhead applied Finished Goods June 1 Balance o June 30 Cost of goods sold (G) June 30 Completed jobs (F) Wages Payable June 30 Wages incurred 125,000 June 1 Balance Factory overhead applied (E) June 30 Indirect labor Factory Overhead 22,000 June 30 ( (H) 17,9001 88,500 June 30 Indirect materials June 30 Other overhead In addition, the following information is available: a. Materials and direct labor were applied to six jobs in June: Job No. Style Quantity Direct Materials Direct Labor 201 T100 220 $24,220 $16,000 202 T200 390 36,950 25,000 203 T400 190 13,060 8,000 204 S200 310 41,830 32,000 205 T300 160 19,940 15,000 206 S100 130 7,030 4,000 Total 1,400 $143,030 $100,000 b. Factory overhead is applied to each job at a rate of 150% of direct labor cost. c. The June 1 Work in Process balance consisted of two jobs, as follows: Job No. Style Work in Process, June 1 201 T100 $6,400 202 T200 15,600 Total $22,000 d. Customer jobs completed and units sold in June were as follows: Job Style Completed in June Units Sold in June No. 201 T100 176 202 T200 X 312 203 T400 0 204 S200 260 205 T300 133 206 S100 0 1. Determine the missing amounts associated with each letter and complete the following table. If required, round amounts to the nearest dollar. If an answer is zero, enter in "0". Enter all amounts as positive numbers. Direct Job No. Quantity June 1 Work in Process Direct Labor Factory Overhead Total Cost Unit Cost Units Sold Materials No. 201 220 $ 6,400 $ 24,220 $ 16,000 $ $ $ No. 202 390 15,600 36,950 25,000 No. 203 190 13,060 8,000 No. 204 310 41,830 32,000 No. 205 160 19,940 15,000 No. 206 130 7,030 4,000 Total 1,400 $22,000 $143,030 $100,000 $ $ a. Materials requisitions $ b. Work in process beginning balance $ c. Direct materials $ d. Direct labor $ e. Factory overhead applied $ f. Completed jobs $ g. Cost of goods sold $ h. Indirect labor $ 2. Determine the June 30 balances for each of the inventory accounts and factory overhead. Use the minus sign to indicate any credit balances. Materials Work in process Finished goods Factory overheadStep by Step Solution
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