Sandhill Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending on customer preference. On June 1, 2022, the general ledger for Sandhill Inc. contains the following data. Raw Materials Inventory $ 3.900 $ 35,600 Manufacturing Overhead Applied Manufacturing Overhead Incurred Work in Process Inventory $5,975 $ 29,400 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Rodgers Stevens Linton Direct materials $ 700 $ 900 $1,000 Direct labor 300 500 700 Manufacturing overhead 375 625 875 $1,375 $2,025 $ 2,575 During June, raw materials purchased on account were $4,600, and $ 4.900 of factory wages were paid. Additional overhead costs consisted of depreciation on equipment $ 800 and miscellaneous costs of $ 400 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Customer Job Materials Requisition Slips Time Tickets Rodgers $ 700 $ 900 Koss 1,800 700 Stevens 500 400 Linton 1,300 1.300 Rodgers 300 400 4.600 3.700 General use 1,500 1,200 $ 6,100 $ 4,900 Overhead was assigned to jobs at the same rate of $ 1.25 per dollar of direct labor cost throughout the year. The patios for customers Rodgers, Stevens, and Linton were completed during June and sold for a total of $ 18,500. Each customer paid in full at the time of sale. Journalize the June transactions: (1) purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred: (2) assignment of direct materials, labor, and overhead to production, and (3) completion of jobs and sale of goods. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (1) Raw Materials inventory 5000 Accounts Payable 5000 (To record purchase of raw materials) Factory Labor 3800 Cash 3800 (To record factory labor costs paid) Manufacturing Overhead 1400 Accumulated Depreciation Equipment 1000 Accounts Payable 400 (To record manufacturing overhead costs incurred) ) (2) Work In Process Inventory 5000 Manufacturing Overhead 1400 Raw Materials inventory 6400 (To record assignment of direct materials) Work in Process Inventory 3800 Raw Materials inventory 1200 5000 (To record assignment of factory labor) Work In Process Inventory 4750 Manufacturing Overhead 4750 (To record assignment of manufacturing overhead) (3) Finished Goods Inventory 15625 Work In Process Inventory 15625 (To record completion of jobs) Cash 20800 Sales Revenue 20800 (To record sale of goods) Cost of Goods Sold 15625 Finished Goods Inventory 15625 (To record the cost of goods sold) (b) Post the entries to Work in Process Inventory. (Post the entries to Work in Process Inventory in the order presented in the problem.) Work in Process Inventory 6/1 Balance 5975 June Completed Work Direct Materials Direct Labor Overhead Applled 6/30 Balance eTextbook and Media List of Accounts Save for Later Attempts: 0 of 5 used Submit Answer (c) Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. Costs of unfinished Job: Direct Materials $ + Direct Labor $ e Textbook and Media List of Accounts Save for Later Attempts: 0 of 5 used Submit Answer Prepare a cost of goods manufactured schedule for June. SANDHILL INC Cost of Goods Manufactured Schedule $ $ > > $
