Tuscany Products, Inc. uses a job order cost system. The following accounts have been taken from the books of the company:

Required:
1. Analyze the accounts and describe in narrative form what transactions took place. (Use the reference letters a. through f. in your explanations and note that some accounts needed in your explanation have been purposely omitted.)
2. List the supporting documents or forms required to record each transaction involving the receipt or issuance of materials.
3. Determine the ending balances for Materials, Work in Process, and Finished Goods.

Transcribed Image Text:

Materials Bal. Inventory 19,000 7,000 b. Requisitions for month 22,000 a. Purchases for month Bal. Inventory b. Material Requisitions c. Direct Labor d. Factory Overhead Work in Process 3,600 e. To Finished Goods 19,000 17,000 12,000 47,500 Finished Goods 11,650 f. To Cost of Goods Sold 47,500 Bal. Inventory 55,000 e. Goods Finished