Problem 15-3A (Part Level Submission) Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2017, the general ledger for Case Inc. contains the following data. Raw Materials Inventory $4,872 Manufacturing Overhead Applied $37,862 Work in Process Inventory $6,426 Manufacturing Overhead Incurred $36,714 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Rodgers Stevens Linton Direct materials $696 $928 $1,044 Direct labor 371 626 673 Manufacturing overhead 464 783 841 $1,531 $2,337 $2,558 During June, raw materials purchased on account were $5,684, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $1,044 and miscellaneous costs of $464 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Customer Job Materials Requisition Slips Time Tickets Rodgers $928 $986 Koss 2,320 928 Stevens 580 418 Linton 1,508 1,392 Rodgers 348 452 5,684 4,176 General use 1,740 1,392 $7,424 $5,568 Overhead was charged to jobs at the same rate of $1.25 per dollar of direct labor cost. The patios for customers Rodgers, Stevens, and Linton were completed during June and sold for a total of $21,924. Each customer paid in full. (a) Journalize the June transactions: (1) for purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred; (2) assignment of direct materials, labor, and overhead to production; and (3) completion of jobs and sale of goods. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 2,500.) No. Account Titles and Explanation Debit Credit (1) (To record purchase of raw materials) (To record factory labor costs paid) (To record manufacturing overhead costs incurred) (2) (To record assignment of direct materials) (To record assignment of factory labor) (To record assignment of manufacturing overhead) (3) (To record completion of jobs) (To record sale of goods)
No. | Account Titles and Explanation | Debit | Credit | ||
-1 | Raw Material Inventory | $5,684 | |||
Accounts Payable | $5,684 | ||||
(To record purchase of raw materials) | |||||
Factory Labor | $5,568 | ||||
cash | $5,568 | ||||
(To record factory labor costs paid) | |||||
Manufacturing overhead | $1,508 | ||||
Accounts Payable | $464 | ||||
Accumulated Depreciation | 1044 | ||||
(To record manufacturing overhead costs incurred) | |||||
-2 | Work In process Inventory | 5684 | |||
Manufacturing overhead | 1740 | ||||
Raw Material Inventory | 7424 | ||||
(To record assignment of direct materials) | |||||
Work In process Inventory | 4176 | ||||
Manufacturing overhead | 1392 | ||||
Factory Labor | 5568 | ||||
(To record assignment of factory labor) | |||||
Work In process Inventory (4176*1.25) | $5,220 | ||||
Manufacturing overhead | $5,220 | ||||
(To record assignment of manufacturing overhead) | |||||
-3 | Finished Goods Inventory | $17,098 | |||
Work In process Inventory | $17,098 | ||||
(To record completion of jobs) | |||||
Cash | 21924 | ||||
Sales | 21924 | ||||
(To record sale of goods) | |||||
Cost of good sold | $17,098 | ||||
Finished Goods Inventory | $17,098 | ||||
(To record the cost of goods sold) | |||||
working | |||||
Finished Goods Inventory | |||||
Rodgers | Stevens | Linton | Total | ||
Beg. WIF | $1,531 | 2337 | 2558 | ||
Direct material | 1276 | 580 | 1508 | ||
(928+348) | |||||
Direct labor D | 1438 | 418 | 1392 | ||
(986+452) | |||||
Manufacturing overhead D*1.25 | 1798 | 523 | 1740 | ||
Total | $6,043 | $3,858 | $7,198 | $17,098 |
Problem 15-3A (Part Level Submission) Case Inc. is a construction company specializing in custom patios. The...
Problem 15-3A (Part Level Submission) Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2017, the general ledger for Case Inc. contains the following data. Raw Materials Inventory $4,872 Manufacturing Overhead Applied $37,862 Work in Process Inventory $6,426 Manufacturing Overhead Incurred $36,714 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element...
Problem 15-3A (Part Level Submission) Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2017, the general ledger for Case Inc. contains the following data. Raw Materials Inventory $4,872 Manufacturing Overhead Applied $37,862 Work in Process Inventory $6,426 Manufacturing Overhead Incurred $36,714 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element...
Problem 15-3A (Part Level Submission) Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2017, the general ledger for Case Inc. contains the following data, Raw Materials Inventory Work in Process Inventory $5,208 Manufacturing Overhead Applied $6,870 Manufacturing Overhead Incurred $40,474 $39,246 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Rodgers Stevens...
Problem 15-3A (Part Level Submission) Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2017, the general ledger for Case Inc. contains the following data. Raw Materials Inventory Work in Process Inventory $4,284 $5,652 Manufacturing Overhead Applied Manufacturing Overhead Incurred $33,293 $32,283 Subsidiary data for Work in Process Inventory on June 1 are as follows. Cost Element Direct materials Direct labor Manufacturing...
*Problem 2-3A (Video) (Part Level Submission) Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2020, the general ledger for Case Inc. contains the following data. Raw Materials Inventory Work in Process Inventory $4,200 Manufacturing Overhead Applied $5,450 Manufacturing Overhead Incurred $30,300 $30,200 Subsidiary data for Work in Process Inventory on June 1 are as follows. Cost Element Direct materials Direct labor...
Problem 15-3A (Part Level Submission) Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2017, the general ledger for Case Inc. contains the following data. Raw Materials Inventory $4,620 Manufacturing Overhead Applied $35,904 Work in Process Inventory $6,095 Manufacturing Overhead Incurred $34,815 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element...
Problem 2-3A (Video) (Part Level Submission) Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 2020, the general ledger for Case Inc. contains the following data. Raw Materials Inventory $3,900 Manufacturing Overhead Applied $35,600 Work in Process Inventory $5,975 Manufacturing Overhead Incurred $29,400 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element...
Problem 2-3A (Video) (Part Level Submission) Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2020, the general ledger for Case Inc. contains the following data. Raw Materials Inventory Work in Process Inventory $3,900 $5,975 Manufacturing Overhead Applied Manufacturing Overhead Incurred $35,600 $29,400 Subsidiary data for Work in Process Inventory on June 1 are as follows. Cost Element Direct materials Direct labor...
Problem 15-3A (Part Level Submission) Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2017, the general ledger for Case Inc. contains the following data Raw Materials Inventory Work in Process Inventory$5,928 Manufacturing Overhead Applied Manufacturing Overhead Incurred $34,925 $33,866 $4,494 Subsidiary data for Work in Process Inventory on June 1 are as follows ob Cost Sheets Customer Job Rodgers Linton Cost...
Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2020, the general ledger for Case Inc. contains the following data. Raw Materials Inventory $4,100 Manufacturing Overhead Applied $33,800 Work in Process Inventory $5,675 Manufacturing Overhead Incurred $28,600 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Rodgers Stevens Linton Direct materials...