Reyes Manufacturing Company uses a job order cost system. At the beginning of January, the company had one job in process (Job 201) and one job completed but not yet sold (Job 200). Job 202 was started during January. Other select account balances follow (ignore any accounts that are not listed).

Reyes Manufacturing Company uses a job order cost system. At the beginning of January, the company had one job in process (Job 201) and one job completed but not yet sold (Job 20 Job 202 was started during January. Other select account balances follow ignore any accounts that are not listed) During January, the company had the following transactions (a) Purchased $61,000 worth of materials on account. (b) Recorded materials issued to production as follows: Job Number Total Cost $ 10.200 20,000 5.800 $ 35,000 Indirect materials (c) Recorded factory payroll costs from direct labor time tickets that revealed the following: Job Number 201 Hours 103 399 Total Cost $ 2.700 10,400 4,400 $17.500 Factory supervision (d) Applied overhead to production at a rate of $26.00 per direct labor hour for 502 actual direct labor hours. (e) Recorded the following actual manufacturing overhead costs: Factory rent Depreciation Factory uits Factory insurance To Cos $ 3.500 4,100 4.300 2.100 $14.000 Description Paid in cash Factory equipment incurred but not paid Prepaid policy in Completed Job 201 and transferred it to Finished Goods Inventory (9) Sold Job 200 for $51,800 in Completed Job 201 and transferred it to Finished Goods Inventory 1o) Sold Job 200 for $51 800 Job 202 was in process at the end of January Required 1. Post the preceding transactions to c aneous Accounts) accounts Note Capture the offsig of debts and credits to other accounts such as Cash Payables Acu d Depreciation and so on in Raw Material eventory o ry Work in Process 20 500 Finished Goods inventory Cost of Good Lold Manufacturing Overhead Miscellaneous Accounts (Cash, Payables, etc.) 1/1 2. Compute the ending balance in the following accounts: Raw Materials Inventory Work in Process Inventory Finished Goods Inventory d. Cost of Goods Sold (unadjusted) Manufacturing Overhead 3. Compute the total cost of Jobs 201 and 202 at the end of January Job Total Cost of Job Number 201