Question

HEY, ALL I NEED IS THE LAST QUESTION PLEASE, THESE SCREENSHOTS ARE FOR TO HELP YOU UNDERSTAND WHAT HAS BEEN DONE BEFORE :D

P15-3A Prepare entries for a job order cost system and cost of goods manufactured schedule 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 $5,540 Manufacturing Overhead Applied Manufacturing Overhead Incurred $32,640 $31,650 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Rodgers Customer Job Stevens $800 $600 Linton $900 Cost Element Direct materials Direct labor Manufacturing overhead 320 540 580 675 $2,015 725 $2,205 $1,320 During June, raw materials purchased on account were $4,900, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $900 and miscellaneous costs of $400 incurred on account. A summary of materials requisition slips and time tickets for June show the following. Customer Job Rodgers Koss Stevens Linton Rodgers Materials Requisition slips $800 2000 500 1300 300 4900 1500 $6,400 Time tickets $850 800 360 1,200 390 3,600 1,200 $4,800 General use Overhead was charged to jobs at the same rate of $1.25 per dollar of direct labor cost. The patios for customers Rodaers. Stevens, and Linton were completed during June and sold for a total of $18.900

Answer 1

Answers:

(a).1. Journalize the June transactions for purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred

			Debit	Credit
Raw Materials			6800
	Accounts Payable			6800
Factory Labor			4800
	Cash			4800
Manufacturing Overhead			1300
	Accumulated Depreciation- Equipment			900
	Accounts Payable			400

(a).2. Journalize the June transactions for assignment of direct materials, labor, and overhead to production

Work in Process Inventory			4900
Manufacturing Overhead			1500
	Raw Materials Inventory			6400
Work in Process Inventory			3600
Manufacturing Overhead			1400
	Factory Labor			5000
Work in Process Inventory			5400
	Manufacturing Overhead			5400

(a).3. Journalize the June transactions for completion of jobs and sale of goods.

Finished goods Inventory			15800
	Work in Process Inventory			15800
Cash			22000
	Sales			22000
Cost of Goods Sold			15800
	Finished Goods Inventory			15800

b. Post the entries to Work in Process Inventory.

Work in Process Inventory
6/1	Balance	5540	June	Completed work		15800
	Direct Materials	4900
	Direct labor	3600
	Overhead applied	5400
6/30	Balance	4000

c. Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs.

6/30 balance in Work in Process Inventory			4000
Unfinished Job (Koss)
Direct materials			2000
Direct labor			800
Manufacturing overhead			1200
			4000

d. Prepare a cost of goods manufactured schedule for June.

CASE INC.
Cost of Goods Manufactured Schedule
For the Month Ended June 30, 2020
Work in process, June 1			5540
Direct materials used		4900
Direct labor		3600
Manufacturing overhead applied		5400
Total manufacturing costs			13900
Total cost of work in process			19440
Less: Work in process, June 30			4000
Cost of goods manufactured			15440