Analyzing Manufacturing Cost Accounts Fire Rock Company manufactures designer paddie boards in a wide variety of sizes and styles. The following incomplete ledger accounts refer to transactions that are summarized for June: Materials June 1 Balance 20,800Dune 30 115,600 Requisitions (A) Purchases June 30 Work in Process June 1 Balance (B)Dune 30 Completed jobs (F) June 30 (C) Materials June 30 Direct labor (D) June 30 Factory overhead applied (E) Finished Goods Balance June 1 oune 30 Cost of goods sold (G) Completed jobs June 30 (F) Wages Payable June 30 Wages incurred 120.000 Factory Overhead 21,400une 30 June 1 Balance Factory overhead applied (1) June 30 Indirect labor 15,400 June 30 Indrect materials 100.500 June 30 Other overtead eBook E Calculator Other overhead June 30 106,500| In addition, the following information is available: a. Materials and direct labor were applied to six jobs in June: Job No. Style Quantity Direct Materials Direct Labor 201 T100 230 $21,330 $17,000 202 T200 370 29,180 24,000 203 T400 230 14,110 9,000 204 S200 290 32,280 28,000 205 T300 170 19,000 15,000 206 S100 100 7,100 3,000 Total 1,390 $123,000 $96,000 b. Factory overhead is applied to each job at a rate of 170% of direct labor cost. c. The June 1 Work in Process balance consisted of two jobs, as follows: Job No. Style Work in Process, June 1 201 T100 $6,600 202 T200 14,800 Total $21,400 d. Customer jobs completed and units sold in June were as follows: Job Completed in Units Sold in Style No. June June 201 T100 184 202 T200 296 203 T400 204 S200 244 205 T300 141 206 S100 Determine the missing amounts associated with each letter and complete the folowing table. If required, round amounts to the nearest dollar. If an answer is zera, enter in 0. Enter all amouts as poutve nunbers June 1 Job No. Direct Direct Quantity Work in Factory Doverhead Materials Labor Total Cost Unit Cost Process Units Sold Cost of Goods Sold No. 201 $6,600 $21,330 $17,000 No. 202 14,800 29,180 24,000 No. 203 14,110 9,000 No. 204 32,280 28,000 No. 205 19,000 15,000 No. 206 7,100 3,000 $21,400 $123,000 $96,000 Total a. Materials requisitions b. Work in process beginning balance s C. Direct materials d. Direct labor S e. Factory overhead applied 1. Completed jobs s a. Cost of goods sold to indicate any credit balances h. Indirect labor s 2. Determine the June 30 balances for each of the inventory accounts and factory overhead. Use the minus sign to indicate any credit balances. Materials Work in process Finished goods Factory overhead
