Question

Anayang Manufacturing Cost Accounts Fire Rock Company manufactures designer paddle boards in a wide variety of sizes and styles. The following incomplete ledger accounts refer to transactions that are summarized for Sune: June 1 June 30 Balance Purchases Materials 26,800|une 30 107,700 Requisitions Work In Process (6) June 30 Completed jobs June 1 June 30 June 30 June 30 Balance Materials Direct labor Factory overhead applied June 1 June 30 Balance Completed jobs Finished Goods olune 30 (F Cost of goods sold Wages Payable Check My Work Previous Next >

Answer 1

Material
June 1 Balance	26800	June 30 Requisitions	128830
June 30 Purchases	107700
Work in process
June 1 Balance	22000	June 30 Completed jobs	337690
June 30 Materials	114530
June 30 Direct labor	93000
June 30 factory overheads applied	158100
Finished goods
June 1 Balance	0	June 30 Cost of goods sold	275937
June 30 completed jobs	337690
Wages payable
		June 30 wages incurred	116300
Factory overheads
June 1 balance	22000	June 30 factory overheads applied	158100
June 30 Indirect labor	23300
June 30 Indirect materials	14300
June 30 other overheads	102400
A Requisitions = Direct material + Indirect material	128830
B work in process june 1	22000
C Direct material Total	114530
D Direct labor Total	93000
E Factory overheads applied	158100	(93000*170%)
Overheads applied = Direct labor * 170%
F Completed jobs	Total cost	Direct material	Direct labor	overheads applied	WIP june 1
Job 201	66570	20070	15000	25500	6000
Job 202	117670	31470	26000	44200	16000
Job 204	100500	30300	26000	44200	0
Job 205	52950	15150	14000	23800	0
Total completed jobs	337690
G	Total cost	Total units	Per unit cost	Units sold	Cost of goods sold= Per unit cost * unit sold
Job 201	66570	210	317	168	53256
Job 202	117670	410	287	328	94136
Job 204	100500	250	402	210	84420
Job 205	52950	150	353	125	44125
	337690				275937
H Indirect labor = Wages incurred - Direct labor	23300