The Update Company does not maintain backup documents for its computer files. In June, some of the current data were lost, and you have been asked to help reconstruct the data. The following beginning balances on June 1 are known:

Direct Materials Inventory	$ 27,000
Work-in-Process Inventory	10,125
Finished Goods Inventory	24,840
Manufacturing Overhead Control	37,125
Accounts Payable	5,200

Reviewing old documents and interviewing selected employees have generated the following additional information:

The production superintendent's job cost sheets indicated that materials of $5,850 were included in the June 30 Work-in-Process Inventory. Also, 150 direct labor-hours had been paid at $6.00 per hour for the jobs in process on June 30.

The Accounts Payable account is only for direct material purchases. The clerk remembers clearly that the balance in the Accounts Payable on June 30 was $13,000. An analysis of canceled checks indicated payments of $52,500 were made to suppliers during June.

Payroll records indicate that 11,700 direct labor-hours were recorded for June. It was verified that there were no variations in pay rates among employees during June.

Records at the warehouse indicate that the Finished Goods Inventory totaled $26,000 on June 30.

Another record kept manually indicates that the Cost of Goods Sold in June totaled $136,500.

The predetermined overhead rate was based on an estimated 60,000 direct labor-hours for the year and an estimated $180,000 in manufacturing overhead costs.

What is the ending balance in the Work-in-Process Inventory on June 30? a$16,425. b$6,750. c$7,200. d$17,325.

Scottso Corporation applies overhead using a normal costing approach based upon machine-hours. Budgeted factory overhead was $300,300, budgeted machine-hours were 19,500. Actual factory overhead was $346,725, actual machine-hours were 20,100. How much overhead would be applied to production?

a$309,540. b$300,300. c$336,375. d$346,725.

Scottso Corporation applies overhead using a normal costing approach based upon machine-hours. Budgeted factory overhead was $276,360, budgeted machine-hours were 18,800. Actual factory overhead was $300,700, actual machine-hours were 19,400. How much overhead would be applied to production?

a$291,400. b$300,700. c$276,360. d$285,180.

The general journal entry to record the issuance of the materials represented by the following materials requisitions for the month includes:

Requisition No.	Description	Amount
372	Job No. 179	$ 6,210
373	Job No. 184	$ 4,420
374	Job No. 180	$ 5,365
375	General factory use	$ 845
376	Job No. 182	$ 2,950

a credit to Factory Overhead, $845. a debit to Materials Inventory, $19,790. a debit to Work-in-Process Inventory, $18,945. a credit to Work-in-Process Inventory, $18,945. a debit to Materials Inventory, $18,945.

Under Pick Co.'s job order costing system, manufacturing overhead is applied to Work-in-Process using a predetermined annual overhead rate. During January, Pick's transactions included the following:

Direct materials issued to production	$ 94,000
Indirect materials issued to production	8,400
Manufacturing overhead incurred	131,000
Manufacturing overhead applied	119,000
Direct labor costs	112,000

Pick had neither beginning nor ending inventory in Work-in-Process Inventory. What was the cost of jobs completed in January? (CPA adapted)

a $337,000. b $325,000. c $345,400. d $316,600.