Rustic Homes, Inc., uses a job cost system to account for its jobs, which are prefabricated log cabins. As of January 1, its records showed inventories as follows: Rustic Homes, Inc. Materials and supplies $103,000 Work in process (Job Nos. 22 and 23) 180,300 Finished goods (Job No. 21) 145,300 The work in process inventory consisted of two jobs: Job No. Direct Materials Direct Labor Manufacturing Overhead Total 22 $35,500 $39,400 $19,300 $94,200 23 39,500 26,600 16,000 82,100 $176,300 Cost and sales data are as follows: Rustic Homes, Inc. a. Materials purchased on account $400,500. b. Direct materials used Job 22 $58,800; Job 23 $124,200; Job 24 $187,300. c. Indirect materials used $9,300. d. Direct labor used Job 22 $100,200; Job 23 $198,300; Job 24 $79,600. e. Indirect labor costs $79,800. f. Overhead is assigned to jobs at $95 per machine-hour, Job No. 22 used 490 machine hours, Job No. 23 used 1,030 machine hours, and Job No. 24 used 340 machine hours in the month. g. Job No. 22 and 23 were completed and transferred to Finished Goods Inventory. h. Job No. 21 and 22 were sold on account for $1,156,000, total. Record the Cost of Goods Sold. i. Manufacturing overhead costs incurred, other than indirect materials and indirect labor, were depreciation $60,600, and heat, light, and power, $30,600 (to be paid next month). 1. Calculate the Job Cost for each job. Job Cost 22 23 24 Total 94200 82100 176300 Beg. Work in Process Inventory Direct Materials Direct Labor 58800 124200 187300 370300 100200 198300 79600 378100 Applied Overhead Total Job Cost Job Status: Completed or In-Process Job 22 Job 23 Job 24 epare Jo to assign each cost for each cost and sales data item. Date Description Debit Credit a. Raw Materials Inventory Accounts Payable b. Work-in-Process Raw Materials Inventory Wages Payable f. Work-in-Process Manufacturing Overhead g. Finished Goods Inventory Work-in-Process h. Accounts Receivable