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Kirpalani Stores manufactures customized household furnishings. The company uses a perpetual inventory system and...

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Accounting

Kirpalani Stores manufactures customized household furnishings. The company uses a perpetual inventory
system and has a highly labour-intensive production process, so it assigns manufacturing overhead based
on direct labour cost. Kirpalani expects to incur $2,205,000 of manufacturing overhead costs and estimated
direct labour costs of $3,150,000 during 2019.
At the end of December 2018, Kirpalani reported work in process inventory (Job 551) of $93,000
The following events occurred during January 2019.
i) Purchased materials on account, $392,000.
ii) Incurred manufacturing wages of $400,000
iii) Requisitioned direct materials and used direct labour in manufacturing.
Direct Materials Direct Labour
Job 551
Job 552
Job 553
Job 554
$70,200
97,500
105,300
117,000
$61,200
115,600
78,200
85,000
iv) Issued indirect materials to production, $30,000.
v) Charged indirect manufacturing wages to production, $60,000.
vi) Depreciation of production machinery, $85,000

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