Vargas Corporation's fiscal year ends on June 30. The following accounts are found in its job-order cost accounting system for the first month of the new fiscal year:

Other data:
1. On July 1, two jobs were in process: Job No. 4085 and Job No. 4086, with costs of $19,000 and $13,200, respectively.
2. During July, Job Nos. 4087, 4088, and 4089 were started. On July 31, only Job No. 4089 was unfinished. This job had charges for direct materials of $2,000 and direct labour of $1,500, plus manufacturing overhead. Manufacturing overhead was applied at the rate of 125% of direct labour cost.
3. On July 1, Job No. 4084, costing $145,000, was in the finished goods warehouse. On July 31, Job No. 4088, costing $138,000, was in finished goods.
4. Overhead was $3,000 under-applied in July.
Instructions
List the letters (a) through (n) and indicate the amount pertaining to each letter. Show calculations.

Transcribed Image Text:

Raw Materials Inventor July1 Beginning balance 15,000 July 31 Requisitions 90,400 31 Purchases July 31 Ending balance Work in Process Inventory July 1 Beginning balance July 31 Jobs completed 31 Direct materials 31 Direct labour 31 Overhead 75,000 July 31 Ending balance Finished Goods Invento July1 Beginning balance July 31 Cost of goods sold(j) 31 Completed jobs July 31 Ending balance Factory Labour July 31 Factory wages July 31 Wages assigned Manufacturing Overhead July 31 31 31 Indirect materials 9,000 July 31 Overhead applied 114,000 16,000 indirect labour Other overhead