Question

AutoSave 01 R 2 ExcelTemplateAssignment_Cho2 (1) . Protected View - Excel O Search File Home Insert Page Layout Formulas Data Review ViewH elp DYMO Label QuickBooks PROTECTED VIEW Be careful--files from the Internet can contain viruses. Unless you need to edit, it's safer to stay in Protected View. Enat X fr P2-3A Prepare entries for a job order cost system and cost of goods manufactured schedule 24. A B C D E F G H I J 1 [P2-3A Prepare entries for a job order cost system and cost of goods manufactured schedule 2 Case Inc. is a construction company specializing in custom patios. The patios are constructed of 3 concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2017, 4 the general ledger for Case Inc. contains the following data. 6 Raw Materials Inventory $4,200 Manufacturing Overhead Applied $32,640 7 Work in Process Inventory $5,540 Manufacturing Overhead Incurred $31,650 9 Subsidiary data for Work in Process Inventory on June 1 are as follows. Cost Element Direct materials Direct labor Manufacturing overhead Job Cost Sheets Customer Job Rodgers Stevens $800 540 400 675 $1,320 $2,015 $600 320 Linton $900 580 725 $2,205 _ 19] During June, raw materia's purchased on account were $4,900, and all wages were paid. Additional 20 overhead costs consisted of depreciation on equipment $900 and miscellaneous costs of $400 incurred 21 on account 22 A summary of materials requisition slips and time tickets for June show the following. Custo mer Job Rodgers Koss Stevens Linton Rodgers | 82.1 625 Materials Requisition slips $ 800 2,000 500 1,300 300 P2-3A P2-SAN CD21 Time tickets $850 800 360 1,200 390 E2-9 E O Type here to search

Answer 1

Answer-

Date	Account Title and Explanation	Debit	Credit
1a	Raw material inventory	4900
	Accounts payable		4900
	[raw material purchased on account]
b	Factory labor	4800
	cash		4800
c	Manufacturing overhead	1300
	Accumulated depreciation		900
	Accounts payable		400
	[Manufacturing overhead incurred]
2	Work in process	4900
	Manufacturing overhead	1500
	Raw material inventory		6400
b	Work in process	3600
	Manufacturing overhead	1200
	Factory labor		4800
c	Work in process	4500
	Manufacturing overhead		4500
	[Overhead applied 3600*1.25]
3	Finished goods inventory	14740
	Work in process inventory		14740
3	Cash	18,900
	Sales revenue		18,900
b	Cost of goods sold	14740
	Finished goods inventory		14740

Job	Direct Materials	Direct Labor	Manufacturing Overhead	Total Costs
Rodgers	1700	1560	1950	5210
Stevens	1300	900	1125	3325
Linton	2200	1780	2225	6205
				14740

b-Post entries to work in process:-

Work in process Inventory

1 June	Balance	5540	June	Completed work	14740
	Direct materials	4900
	Direct labor	3600
	Overhead applied	4500
30 june	Balance	3800

c-reconcile the balance

Work in process inventory	3800
Job: Unfinished Job Koss
Direct materials	2000
Direct labor	800
Manufacturing overhead	1000
	3800

d- CASE INC.

Cost of Goods Manufactured Schedule

For the Month Ended June 30,2017

Work in process,June 1		5540
Direct Materials used	4900
Direct labor	3600
Manufacturing overhead applied	4500
Total Manufacturing cost		13000
Total cost of work in process		18540
Less: work in process June 30		3800
Cost of goods manufactured		14740

Kindly give me thumbs up if u like my answer...Thanks!!!