Wildhorse Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending on customer preference. On June 1, 2022, the general ledger for Wildhorse Inc. contains the following data. Subsidiary data for Work in Process Inventory on June 1 are as follows. During June, raw materials purchased on account were $5,200, and $4,600 of factory wages were paid. Additional overhead costs consisted of depreciation on equipment $900 and miscellaneous costs of $400 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Overhead was assigned to jobs at the same rate of $1.25 per dollar of direct labor cost throughout the year. The patios for customers Rodgers, Stevens, and Linton were completed during June and sold for a total of $18,700. Each customer paid in full at the time of sale. (a) Your answer is correct. Journalize the June transactions: (1) 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. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation (1) Raw Materials Inventory Accounts Payable (To record purchase of raw materials) Factory Labor Cash (To record factory labor costs paid) Manufacturing Overhead Accumulated Depreciation-Equipment Accounts Payable (To record manufacturing overhead costs incurred) (2) Work in Process Inventory Manufacturing Overhead Raw Materials Inventory (To record assignment of direct materials) Work in Process Inventory Debit Credit 5200 5200 \begin{tabular}{r} 4600 \\ \hline \\ \hline \end{tabular} \begin{tabular}{|r|} \hline \\ \hline \\ \hline 4600 \\ \hline \end{tabular} \begin{tabular}{r} 1300 \\ \hline \\ \hline \\ \hline \end{tabular} \begin{tabular}{|r|} \hline \\ \hline \\ \hline 900 \\ \hline 400 \\ \hline \end{tabular} \begin{tabular}{|r|} \hline \\ \hline \\ \hline \\ \hline \\ \hline \\ \hline \end{tabular} \begin{tabular}{|r|} \hline \\ \hline \\ \\ \hline \\ \hline \end{tabular} (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 1100 4600 4375 4375 14975 14975 18700 18700 14975 14975 Using multiple attempts has impacted your score. Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. irect Labor \$ + Manufacturing Overhead \$ =$ eTextbook and Media List of Accounts Attempts: 1 of 3 used Using multiple attempts will impact your score. 25% score reduction after attempt 1 Your answer is correct. Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. Costs of unfinished Job: Direct Materials \$ + Direct Labor \$ eTextbook and Media List of Accounts Attempts: 1 of 3 used Using multiple attempts will impact your score. 25% score reduction after attempt 1 Prepare a cost of goods manufactured schedule for June. WILDHORSE INC. Cost of Goods Manufactured Schedule $ $ eTextbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit