Oriole Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2020, the general ledger for Oriole Inc. contains the following data. Raw Materials Inventory $4,500 Manufacturing Overhead Applied $35,900 Work in Process Inventory $5,675 Manufacturing Overhead Incurred $29,300 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Linton Cost Element Rodgers Stevens Direct materials $600 $900 $800 Direct labor 300 600 600 Manufacturing overhead 375 750 750 $2,150 $1,275 $2,250 During June, raw materials purchased on account were $5,200, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $800 and miscellaneous costs of $500 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Materials Requisition Slips Customer Job Time Tickets Rodgers $800 $700 Koss 2,200 800 Stevens 400 300 Linton 1,500 1,300 Rodgers 300 300 5,200 3,400 General use 1,600 1,300 $6,800 $4,700 Overhead was charged to jobs at the same rate of $1.25 per dollar of direct labor cost. The patios for customers Rodgers, Stevens, and Linton were completed during June and sold for a total of $18,000. Each customer paid in full. Z Your answer is partially correct. Try again. Journalize the June transactions: (1) for purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred; (2) assignment of direct materials, labor, and overhead to production; and (3) completion of jobs and sale of goods. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (1) Raw Materials Inventory 5,200 Accounts Payable 5,200 (To record purchase of raw materials) Factory Labor 4,700 4,700 Cash (To record factory labor costs paid) Manufacturing Overhead 1300 Accumulated Depreciation-Equipment 800 500 Accounts Payable (To record manufacturing overhead costs incurred) (2) Work in Process Inventory 5200 Manufacturing Overhead 1600 Raw Materials Inventory 6800 (To record assignment of direct materials) Work in Process Inventory 3400 Manufacturing Overhead 1300 Factory Labor 4700 (To record assignment of factory labor) Work in Process Inventory 4250 Manufacturing Overhead 4250 (To record assignment of manufacturing overhead) Finished Goods Inventory Work in Process Inventory (To record completion of jobs) Cash 18000 Sales Revenue 18000 (To record sale of goods) Cost of Goods Sold Finished Goods Inventory (To record the cost of goods sold) x.... Post the entries to Work in Process Inventory. (Post the entries to Work in Process Inventory in the order presented in the problem.) Work in Process Inventory 6/1 5675|| June Balance Completed Work v Direct Materials Direct Labor Overhead Applied 6/30 Balance V Your answer is correct. Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. 800 + Manufacturing Overhead 2,200 1000 4000 Koss Direct Materials $ + Direct Labor $ Costs of unfinished Job: Prepare a cost of goods manufactured schedule for June. ORIOLE INC. Cost of Goods Manufactured Schedule For the Month Ended June 30, 2020 5675 Work in Process, June 1 Direct Materials Used Direct Labor Manufacturing Overhead Applied Total Manufacturing Costs Total Cost of Work in Process Work in Process, June 30 Less v 4000 Cost of Goods Manufactured X
