BEGINNING POSITION:

JayBird Inc. is a small company that constructs custom bird houses in London, Ontario. It uses a job order costing system because each bird house is custom build for its owner and therefore receives varying attention and effort from the two departments, building and finishing. JayBird Inc. uses a perpetual inventory system. JayBird Inc. had the following post$-$closing trial balance as of December $31,2023$:

Cash $$30,424$

Accounts Receivable $21,424$

Raw Materials Inventory $?$

Work in Process Inventory $?$

Finished Goods Inventory $?$

Unexpired Insurance $11,424$

Office Equipment $34,240$

Accumulated amortization $$ Office Eq$$mt $$3,400$

Factory Equipment $664,000$

Accumulated Amortization $$ Factory Eq$$mt $304,000$

Accounts Payable $24,944$

Wages and Salaries Payable $1,040$

Accrued Utilities $2,400$

Accrued Property Taxes $3,450$

Capital Stock $140,000$

Retained Earnings $?$

$??$

$$

Detail in Subsidiary Records

As of December $31,2023$

Work in process:

Job order Dep't Direct Direct Factory Total

Number Materials Labour Overhead Cost

$19-17$ Building $$2,744\mathrm{.}00$ $$1,074\mathrm{.}00$ $$1,400\mathrm{.}00$ $$5,218\mathrm{.}00$

Finishing $$484\mathrm{.}00$ $$444\mathrm{.}00$ $$240\mathrm{.}00$ $$1,168\mathrm{.}00$

$$6,386\mathrm{.}00$

Finished goods:

Stock # Reference Quantity Unit Cost Total Cost

X$-1$ Job $19-15300\mathrm{.}0078\mathrm{.}00$ $ $?$

X$-2$ Job $19-16812\mathrm{.}0022\mathrm{.}00$ $$?$

$$?$

Raw materials:

RM Type Quantity Unit Cost Total Cost

A $5,114?\_\_\_($A$)?$

B $11,344?\_\_\_($B$)?$

C $744?\_\_\_($C$)?$

Supplies Various $$3,440\mathrm{.}00$

$?$

$$

Labour costs and overhead costs:

The hourly rate including benefits for Building is $$\_\_\_\_\_($D$)$ and for finishing is $$\_\_\_\_\_\_($E$).$

To cost jobs as they are worked on$,$ a predetermined or budgeted overhead rate was computed for $2024$ based on the following budgeted cost drivers:

Building department $61,495$ machine hours

Finishing department $$150,500$ of direct labour

These overhead rates will be used throughout the year by each department. All overhead will be applied to all jobs worked on during the year in proportion to the machine$-$hour and$/$or direct$-$labour cost devoted to each job. JayBird Inc. rents its factory building.

This budget was prepared after careful consideration of the sales outlook for the coming year. The forecasted budget consisted of the following items:

JayBird Inc.

Factory Overhead Budget

For The Year Ended December $31,2024$

Building Finishing Total

Variable costs:

Supplies $$14,200$ $$5,400$ $$19,600$

Indirect Labour $22,80016,80039,600$

Utilities $30,0008,00038,000$

Repairs $24,0006,00030,000$

Misc. $19,00011,00030,000$

$110,00047,200157,200$

Fixed costs:

Insurance $7,0004,620$ $$11,620$

Amortization $90,00014,400104,400$

Rent $24,00013,00037,000$

Property taxes $4,9801,2006,180$

Supervision $10,00015,90025,900$

$135,98049,120185,100$

Total Factory Overhead $$245,980$ $$96,320$ $$342,300$

FOH rate $=$ budgeted FOH

budgeted cost driver

TRANSACTIONS:

The following transactions occurred during the month of January $2024$:

$1.$ Purchases of raw materials $($on account$)$:

RM Type Units $$

Receiving report # $1012$ A $5,000?$

Receiving report # $1013$ B $6,000?$

Receiving report # $1014$ A $2,500?$

Receiving report # $1015$ B $5,000?$

Receiving report # $1016$ C $2,125?$

Receiving report # $1017$ B $3,000?$

Receiving report # $1018$ Supplies N$/$A $$3,004\mathrm{.}00$

Assume that costs have not changed in the last year.

$2.$ Returns on account: $44$ units of material B$.($receiving report #$1019)$

$3.$ The direct material requisitions were summarized, and the following data were shown on a material usage report.

Building Department

Direct Material Usage

For the Month Ended January $31,2024$

Requisition RM Type Job Order Quantity

M$89$ B $19-181,500$

M$90$ A $19-193,017$

M$91$ A $19-20800$

M$92$ B $19-201,000$

M$93$ B $19-193,000$

M$94$ B $19-18200$

M$95$ A $19-211,900$

$$

Finishing Department

Direct Material Usage

For the Month Ended January $31,2024$

Requisition Type Job Order Quantity

A$301$ C $19-175$

A$302$ C $19-20200$

A$303$ C $19-18800$

A$304$ C $19-191,500$

A$305$ C $19-2020$

$4.$ A summary of payroll costs incurred as per the time tickets is as follows:

Actual Labour Hours Worked

For the Month Ended January $31,2024$

Work Job

Ticket Order Building Finishing

ML$48019-184$

ML$48119-18300$

ML$48219-20200$

ML$48319-19240$

ML$48419-21100$

ML$48519-2020$

AL$6019-174$

AL$6119-191,400$

AL$6219-18100$

AL$6319-20200$

AL$6419-1940$

Total direct labour $8641,744$

Other payroll costs:

Building Finishing Total

Indirect labour $$2,000$ $$1,500$ $$3,500$

Factory Supervision $$1,200$ $$1,600$ $$2,800$

Selling and admin. Wages $$6,000$

$5.$ Apply overhead to jobs. See data for item $6$ to obtain machine hours worked. $($A direct laborer operates more than one machine