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: $(1)$

$(4)$ Using the attached forms and the information provided in the problem,

Using the attached forms, reconstruct the job order cost sheets for each job

worked on during the period.

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$).$

Using the attached form, calculate the cost of goods manufactured and the

cost of goods sold for the period.

prepare T account analyses for all inventory accounts and the cost of goods

sold account for the current year.