STI ALLE PITCIPIO VELLORONG Roby REPOR Horace Martinez is a contractor specializing in custom-built Jacuzzis. On May 1, 2022, his ledger contains the following data. Raw Material Inventory $30,000 Work in Process Inventory $12,200 Manufacturing Overhead $2.500 (debit) The Manufacturing Overhead account has debit totals of $12,500 and credit totals of $10,000. Subsidiary data for Work in Process Inventory on May 1 include: Job Cost Sheets Job Direct Materials Direct Labor Manufacturing Overhead Stein $2,500 $2,000 $1,400 Amber 2,000 1,200 840 Holtz 900 800 560 $5,400 $4,000 $ 2800 During May, the following costs were incurred; raw material purchased on account $4,000, labor paid $7,000, and manufacturing overhead paid $1,400. A summary of materials requisition slips and time tickets for the month reveals the following Job by Customer Materials Requisition slips Time Ticket Stein $500 $400 Amber 600 1.000 Holtz 2.300 1,300 Shepard 1.900 2.300 5,300 5,000 General use 1.500 2.000 $6 800 $7.000 Overhead was charged to jobs on the basis of $0.70 per dollar of direct labor cost. The Jacuzzis for customers Stein, Amber and Holtz were completed during the month The three Jacuzzis were sold for a total of $38.000, a. Journalize the June transactions (1) Purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred. Account title Debit Credit Date (2) Assignment of direct materials, labor, and overhead to production. Date Account title Debit Credit (3) Completion of jobs and sale of goods. Customer DM DL MOH Total Costs Date Account title Debit Credit b. Post the entries to Work in Process Inventory. Debit WIP Credit d. Prepare a cost of goods manufactured schedule for May. Martinez Company Cost of Goods Manufactured Schedule May 31, 2022 Work in process, 5/1 Direct materials used Direct Labor Manufacturing overhead applied Total manufacturing costs Total cost of work in process Less: Work in process, 5/31 Cost of goods manufactured