Analyzing manufacturing cost accounts:Fire rock company manufactures designer paddle boards in a widevariety of...Analyzing...

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Accounting

Analyzing manufacturing cost accounts:
Fire rock company manufactures designer paddle boards in a widevariety of sizes and styles. The following incomplete ledgeraccounts refer to transactions that are summarized for June:
Materials
June1. Balance. 32,900. |. June 30 Requisition. (A)
June 30 purchase 132,200. |.
Work in process
June1 balance. B. |. June 30 Complete jobs. (F)
June 30. Materials. C. |.
June 30 direct labor. D |
June 30 factory overhead. E. |
Finished Goods
June 1 balance 0 | June 30 Cost of goods sold ( G)
June 30 complete jobs (F) |
Wages payable
| June 30 wages incurred 121,300
Factory overhead
June 1 balance 23,500 | June 30 Factory Overhead applied (E)
June 30 indirect labor (H) |
June 30 indirect materials 17,600 |
June 30 other overhead 83,300 |
In addition, the following information is available:
A. Materials and direct labor were applied to six jobs inJuly:
Jobs Style Quantity Direct Materials Direct Labor
201 T100 220 $23,220 $16,000
202. T200 430. 39,220. 28,000
203. T400. 210. 14,860. 8,000
204. S200. 260. 36,760. 27,000
205. T300. 150. 18,850. 14,000
206. S100 120. 7,760. 4,000
Total. 1390. $140,670. $97,000
B. Factory overhead is applied to each job at a rate of 150% ofDirect cost.
C. The June 1 work in process balance consisted of two jobs asfollows:
Job No. style. Work in process, June 1
201. T100. $6,300
202. T200. 17,200
Total. $23,500
D. Customer jobs completed and units sold in july were asfollows:
Job no. Style. Completed in July Unit sold in july
201. T100. X. 176
202. T200. X. 344
203. T400. 0
204. S200. X. 218
205. T300. X. 125
206. S100. 0
1. Determine the missing amounts associated with each letter andcomplete the following table. If required, round amounts to thenearest dollar. If an answer is zero, enter in “0” . Enter allamounts as positive numbers.
Job no. Quantity. June 1 work in Direct Direct Factory TotalUnit Cost Units sold Cost of
Process Materials Labor. Overhead Cost Goods sold
No.201 $6,300. $23,220. $16,000. $. $. $. $
No 202. 17,200. 39,220. 28,000.
No.203. 14,860. 8,000
No.204. 36,760. 27,000
No.205. 18,850. 14,000
No.206 7,760. 4,000
Total. $23,500. 140,670. 97,000
A. Material Requisitions $
B. Work in process beginning balance $
C. Direct materials $
D. Direct labor. $
E. Factory overhead applied $
F. Complete jobs $
G. Cost of goods sold $
H. Indirect labor $
2. Determine the june 30 balances for each of the inventoryaccounts and factory overhead. Use the minus sign to indicate anycredit balances.
Materials: $
Work in process: $
Finished goods $.
Factory overhead $

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In: AccountingAnalyzing manufacturing cost accounts:Fire rock company manufactures designer paddle boards in a widevariety of...Analyzing manufacturing cost accounts:Fire rock company manufactures designer paddle boards in a widevariety of sizes and styles. The following incomplete ledgeraccounts refer to transactions that are summarized for June:MaterialsJune1. Balance. 32,900. |. June 30 Requisition. (A)June 30 purchase 132,200. |. Work in processJune1 balance. B. |. June 30 Complete jobs. (F)June 30. Materials. C. |.June 30 direct labor. D |June 30 factory overhead. E. |Finished GoodsJune 1 balance 0 | June 30 Cost of goods sold ( G)June 30 complete jobs (F) |Wages payable| June 30 wages incurred 121,300Factory overheadJune 1 balance 23,500 | June 30 Factory Overhead applied (E)June 30 indirect labor (H) |June 30 indirect materials 17,600 |June 30 other overhead 83,300 |In addition, the following information is available:A. Materials and direct labor were applied to six jobs inJuly:Jobs Style Quantity Direct Materials Direct Labor201 T100 220 $23,220 $16,000202. T200 430. 39,220. 28,000203. T400. 210. 14,860. 8,000204. S200. 260. 36,760. 27,000205. T300. 150. 18,850. 14,000206. S100 120. 7,760. 4,000Total. 1390. $140,670. $97,000B. Factory overhead is applied to each job at a rate of 150% ofDirect cost.C. The June 1 work in process balance consisted of two jobs asfollows:Job No. style. Work in process, June 1201. T100. $6,300202. T200. 17,200Total. $23,500D. Customer jobs completed and units sold in july were asfollows:Job no. Style. Completed in July Unit sold in july201. T100. X. 176202. T200. X. 344203. T400. 0204. S200. X. 218205. T300. X. 125206. S100. 01. Determine the missing amounts associated with each letter andcomplete the following table. If required, round amounts to thenearest dollar. If an answer is zero, enter in “0” . Enter allamounts as positive numbers.Job no. Quantity. June 1 work in Direct Direct Factory TotalUnit Cost Units sold Cost ofProcess Materials Labor. Overhead Cost Goods soldNo.201 $6,300. $23,220. $16,000. $. $. $. $No 202. 17,200. 39,220. 28,000. No.203. 14,860. 8,000No.204. 36,760. 27,000No.205. 18,850. 14,000No.206 7,760. 4,000 Total. $23,500. 140,670. 97,000A. Material Requisitions $B. Work in process beginning balance $C. Direct materials $D. Direct labor. $E. Factory overhead applied $F. Complete jobs $G. Cost of goods sold $H. Indirect labor $2. Determine the june 30 balances for each of the inventoryaccounts and factory overhead. Use the minus sign to indicate anycredit balances.Materials: $Work in process: $Finished goods $.Factory overhead $