The following T-accounts represent September activity. Required: Compute the missing amounts indicated by the letters (a) through (). BB (9/1) Materials Inventory 8,500 (a) 5,200 (b) Work-In-Process Inventory BB (9/1) 21,200 180,700 (e) 121,000 92,800 EB (9/30) 17,500 Cost of Goods Sold 396,600 EB (9/30) 10,500 Finished Goods Inventory BB (9/1) 13,500 (e) (f) EB (9/30) Applied Overhead Control (d) Manufacturing Overhead Control 121,000 5,200 36,200 37,800 3,000 Accumulated Depreciation-Plant & Equipment 200, 300 BB (9/1) w Wages Payable 124,300 (c) 36,200 162,000 EB (9/30 119,500 EB (9/30) Accounts Payable-Material Suppliers 100,000 238, 100 Prepaid Expenses 23,900 (i) BB(9/1) EB (9/30) 20,900 Kim's Asphalt does driveway and parking lot resurfacing work for large commercial clients as well as small residential clients. An inventory of materials and equipment is on hand at all times so that work can start as quickly as possible. Special equipment is ordered as required. On May 1, the Materials and Equipment Inventory account had a balance of $38,000. The Work-in-Process Inventory account is maintained to record costs of work not yet complete. There were two such jobs on May 1 with the following costs. Materials and equipment Direct labor Overhead (applied) Job 27 Highlands Mall $15,675 13,700 4,110 Job 33 Pine Ridge Estates $ 52,700 26,350 7,905 Overhead has been applied at 30 percent of the costs of direct labor. During May, Kim's Asphalt started two new jobs. Additional work was carried out on Jobs 27 and 33, with the latter completed and billed to Pine Ridge Estates. Details on the costs incurred on jobs during May follow. Job Materials and equipment Direct labor (wages payable) 27 33 34 35 $3,200 $5,000 $4,800 $3,100 4,700 6,95e 6,100 1,800 Other May Events 1. Received $12.700 payment on Job 24 delivered to customer in April. 2. Purchased materials and equipment for $9,600 on account. 3. Billed Pine Ridge Estates $132,000 and received payment for $85,000 of that amount 4. Determined that payroll for indirect labor personnel totaled $670. 5. Issued supplies and incidental materials for current jobs costing $175. 6. Recorded overhead and advertising costs for the operation as follows (all cash except equipment depreciation). Property taxes Storage area rental Truck and delivery cost Advertising and promotion campaign Inspections Telephone and other miscellaneous Equipment depreciation $570 695 340 620 220 345 470 Required: a. Prepare journal entries to record the flow of costs for operations during May. b. Calculate the amount of over- or underapplied overhead for the month. c. Determine inventory balances for Materials and Equipment Inventory and Work-in-process inventory The following T-accounts represent September activity. Required: Compute the missing amounts indicated by the letters (a) through (). BB (9/1) Materials Inventory 8,500 (a) 5,200 (b) Work-In-Process Inventory BB (9/1) 21,200 180,700 (e) 121,000 92,800 EB (9/30) 17,500 Cost of Goods Sold 396,600 EB (9/30) 10,500 Finished Goods Inventory BB (9/1) 13,500 (e) (f) EB (9/30) Applied Overhead Control (d) Manufacturing Overhead Control 121,000 5,200 36,200 37,800 3,000 Accumulated Depreciation-Plant & Equipment 200, 300 BB (9/1) w Wages Payable 124,300 (c) 36,200 162,000 EB (9/30 119,500 EB (9/30) Accounts Payable-Material Suppliers 100,000 238, 100 Prepaid Expenses 23,900 (i) BB(9/1) EB (9/30) 20,900 Kim's Asphalt does driveway and parking lot resurfacing work for large commercial clients as well as small residential clients. An inventory of materials and equipment is on hand at all times so that work can start as quickly as possible. Special equipment is ordered as required. On May 1, the Materials and Equipment Inventory account had a balance of $38,000. The Work-in-Process Inventory account is maintained to record costs of work not yet complete. There were two such jobs on May 1 with the following costs. Materials and equipment Direct labor Overhead (applied) Job 27 Highlands Mall $15,675 13,700 4,110 Job 33 Pine Ridge Estates $ 52,700 26,350 7,905 Overhead has been applied at 30 percent of the costs of direct labor. During May, Kim's Asphalt started two new jobs. Additional work was carried out on Jobs 27 and 33, with the latter completed and billed to Pine Ridge Estates. Details on the costs incurred on jobs during May follow. Job Materials and equipment Direct labor (wages payable) 27 33 34 35 $3,200 $5,000 $4,800 $3,100 4,700 6,95e 6,100 1,800 Other May Events 1. Received $12.700 payment on Job 24 delivered to customer in April. 2. Purchased materials and equipment for $9,600 on account. 3. Billed Pine Ridge Estates $132,000 and received payment for $85,000 of that amount 4. Determined that payroll for indirect labor personnel totaled $670. 5. Issued supplies and incidental materials for current jobs costing $175. 6. Recorded overhead and advertising costs for the operation as follows (all cash except equipment depreciation). Property taxes Storage area rental Truck and delivery cost Advertising and promotion campaign Inspections Telephone and other miscellaneous Equipment depreciation $570 695 340 620 220 345 470 Required: a. Prepare journal entries to record the flow of costs for operations during May. b. Calculate the amount of over- or underapplied overhead for the month. c. Determine inventory balances for Materials and Equipment Inventory and Work-in-process inventory