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Analyzing manufacturing cost accounts:

Fire rock company manufactures designer paddle boards in a wide variety of sizes and styles. The following incomplete ledger accounts 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 in July:

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% of Direct cost.

C. The June 1 work in process balance consisted of two jobs as follows:

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 as follows:

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 and complete the following table. If required, round amounts to the nearest dollar. If an answer is zero, enter in 0 . Enter all amounts as positive numbers.

Job no. Quantity. June 1 work in Direct Direct Factory Total Unit 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 inventory accounts and factory overhead. Use the minus sign to indicate any credit balances.

Materials: $

Work in process: $

Finished goods $.

Factory overhead $

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