1. Templar Company, a manufacturing firm, has supplied the following information from its accounting records for the month of November:

Factory supplies used	$10,000
Depreciation on factory building	7,000
Salary of company controller	20,000
Factory janitorial costs	5,000
Marketing and promotion	4,500
Direct labor cost	12,000
Purchases of raw materials	15,000
Finished Goods Inventory, Nov. 1	2,250
Finished Goods Inventory, Nov. 30	3,750
Work in Process Inventory, Nov. 1	4,200
Work in Process Inventory, Nov. 30	2,750
Materials Inventory, Nov. 1	3,500
Materials Inventory, Nov. 30	5,100

Required:

a. Prepare a Statement of Cost of Goods Manufactured. List each overhead cost separately on a separate line.

b. Prepare a Statement of Cost of Goods Sold.

2. Pribil Farm Equipment is a job-order costing manufacturer that uses a plantwide overhead rate based on direct labor hours. Estimations for the year include $250,000 in Overhead and 50,000 direct labor hours. Pribil worked on five jobs in March. Data are as follows:

	Job 89	Job 90	Job 91	Job 92	Job 93
Balance, 3/1	$23,110	$18,240	$ 9,510	$0	$0
Direct Materials	13,000	17,210	22,900	15,240	8,210
Direct Labor cost	8,075	11,500	16,250	9,750	4,860
Direct Labor Hours	1,615	2,300	3,250	1,950	972

By March 31, Jobs 89 and 91 were completed and sold at Cost plus 55%. The rest of the jobs remained in process.

Calculate the plantwide overhead rate.

1. Create Job Cost Reports for the month.

2. Calculate the Work-in-Process on March 31 and COGS.

3. Income Statement for the Month of March