Question

Current Attempt in Progress 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 $4,704 Manufacturing Overhead Applied $36,557 $6,205 Manufacturing Overhead incurred $35,448 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 $672 $896 $1.008 Direct labor 358 605 650 Manufacturing overhead 448 756 812 $1,478 $2,257 $2.470 During June, raw materials purchased on account were $5,488, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $1.008 and miscellaneous costs of $448 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 $896 $952 Koss 2,240 896 Stevens 560 403 Linton 1.456 1,344 Rodgers 336 5.488 4,032 General use 1.680 1.344 $7.168 $5,376 437 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 $21,168. Each customer paid in full.

Answer 1

solution: account title 1 Raw material inventory accounts payable debit credit 5488 5488 5376 Factory labor cash 5376 1456 manufacturing overhead accumulated depreciation - equipment accounts payable 1008 448 2 work in process inventory manufacturing overhead raw material inventory 5488 1680 7168 4032 work in process inventory manufacturing overhead factory labor 1344 5376 5040 work in process inventory manufacturing overhead (4032*1.25) 5040 16509 3 finished goods inventory work in process inventory (refer note 1) 16509 18800 cash sales 18800 16509 cost of goods sold finished goodsinventory 16509

16,509 B. Work in process inventory 6/1. Beg bal 6,205 work completed direct material 5488 direct labor 4032 maufacturig overhead applied 5040 6/30. end balance 4256 c) Reconcilitaion Cost of unfinished Job: Koss Koss Direct material direct labor Manufacturing overhead applied (896*1.25) 2240 896 1120 4256 6205 CASE INC cost of goods manufactured schedule For the month ended June 30, 2017 Work in process, June 1 Direct materials used Direct labor Manufacturing overhead applied Total manufacturing costs Total cost of work in process Less: Work in process, June 30 Cost of goods manufactured. 5488 4032 5040 14560 20765 4256 16509 Note 1:working for jobs completed Job steven Rodgers 1,478 Linton 2,470 total 6,205 2,257 beginng WIP add :cost incurred during the year direct material direct labor maufacturig overhead (1.25 *direct labor cost) cost incurred during the year Transferred to finished goods 1,232 1,389 1,736 4,357 5,835 560 403 504 1,467 3,724 1,456 1,344 1,680 4,480 6,950 3,248 3,136 3,920 10,304 16,509