Salerno Manufacturing Company is a small family owned business that makes specialty plastic products. Since it was started three years ago, the company has grown quickly and now employs ten production people. Because of its size, the company uses a job order cost accounting system that was designed around a periodic inventory system. Work sheets and special analyses are used at Salerno to account for manufacturing costs and inventory valuations.

Two months ago, in May $20$X$4,$ the company's accountant quit. You have been called in to help management. The attached information has been given to you.

The company purchased materials only once, during February, for $$126,500.$ All jobs use the same materials. For the current year, the company has been using a predetermined manufacturing overhead rate of $140\%$ of direct labor cost. So far, two jobs, K$-2$ and K$-4,$ have been completed.

Jobs K$-1$ and K$-2$ have been shipped to customers. Job K$-1$ contained $3,200$ units; Job K$-2,5,500$ units; and Job K$-4,4,600$ units.

REQUIRED: $(1)$

Using the attached forms, reconstruct the job order cost sheets for each job worked on during the period.

$(2)$

Using the attached form, calculate the unit costs for Job K$-1,$ Job K$-2,$ and Job K$-4.$ Round the unit costs to the nearest cent $($two decimal places$).$

$(3)$

Using the attached form, calculate the cost of goods manufactured and the cost of goods sold for the period.

$(4)$

Using the attached forms and the information provided in the problem, prepare T account analyses for all inventory accounts and the cost of goods sold account for the current year.

Inventory Balances at $1/1/20$X$4$:

Direct Materials

$

$50,420$

Work in Process $($Job K$-2)$

$59,100$

Finished Goods $($Job K$-1)$

$76,480$

Direct Materials Requisitioned Into Production in $20$X$4$:

Job K$-2$

$

$33,850$

Job K$-4$

$53,380$

Job K$-6$

$82,400$

Direct Labor For $20$X$4$:

Job K$-2$

$

$25,300$

Job K$-4$

Job K$-6$

$33,480$

$45,600$