Swifty 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 Swifty Inc. contains the following data. Raw Materials Inventory Work in Process Inventory $4,600 Manufacturing Overhead Applied $5,425 Manufacturing Overhead Incurred $35,000 $29,800 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Stevens Linton Rodgers $700 $900 Direct materials Direct labor Manufacturing overhead $900 500 300 500 625 375 625 $2,025 $1,375 $2,025 During June, raw materials purchased on account were $5,000, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $900 and miscellaneous costs of $500 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Customer Job Materials Requisition Slips Time Tickets $800 900 Rodgers Koss $700 1,900 600 Stevens 400 Linton 1,400 400 1,400 500 Rodgers General use 5,000 1,500 $6,500 4,000 1,100 $5,100 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 $20,200. Each customer paid in full. 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.) Debit Credit No. Account Titles and Explanation (1) Raw Materials Inventory 5000 Accounts Payable 5000 (To record purchase of raw materials) Factory Labor 5100 Cash 5100 (To record factory labor costs paid) Manufacturing Overhead Accumulated Depreciation Equipment Accounts Payable 375 (To record manufacturing overhead costs incurred) (2) Work in Process Inventory Manufacturing Overhead Factory Labor (To record assignment of direct materials) Work in Process Inventory Manufacturing Overhead Factory Labor (To record assignment of factory labor) Work in Process Inventory Manufacturing Overhead (To record assignment of manufacturing overhead) (3) Finished Goods Inventory Work in Process Inventory (To record completion of jobs) Cash Sales Revenue (To record sale of goods) Cost of Goods Sold Finished Goods Inventory (To record the cost of goods sold) Post the entries to Work in Process Inventory. (Round answers to 0 decimal places, e.g. 2,500.) Work in Process Inventory June 6/1 6/30 Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. (Round answers to 0 decimal places, e.g. 2,500.) Costs of unfinished Job: Direct Materials $ + Direct Labor $ + Manufacturing Overhead $ Prepare a cost of goods manufactured schedule for June. (Round answers to 0 decimal places, e.g. 2,500.) CASE INC. Cost of Goods Manufactured Schedule $
