p2-3a - FileName:...

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Unformatted text preview: FileName: 52026b0db4daab3a0bb0d299ff9e3046a0789456.xls, Tab: Problem P2-3A, Page 1 of 2, 12/28/2011, 19:01:54 Name: Date: Instructor: Course: Raw Materials Inventory $30,000 Work in Process Inventory 12,600 Manufacturing Overhead 2,500 (Debit) The Manufacturing Overhead account has debit totals of $12,500 and credit totals of $10,000 Subsidiary data for Work in Process Inventory on May 1 include: JOB COST SHEETS Job by Customer Direct Materials Direct Labor Manufacturing Overhead Farley $2,500 $2,000 $1,600 Hendricks 2,000 1,200 960 Minor 900 800 640 $5,400 $4,000 $3,200 During May, the following costs were incurred: (a) Raw materials purchased on account $5,000 (b) Labor paid $8,000 (c) Manufacturing overhead paid $1,400 A summary of materials requisition slips and time tickets for the month of May reveals the following: Job by Customer Materials Requisition Slips Time Tickets Farley $500 $400 Hendricks 600 1,000 Minor 2,300 1,300 Bennet 2,400 3,300 $5,800 $6,000 General use 1,500 2,000 $7,300 $8,000 Overhead was charged to jobs on the basis of $0.80 per dollar of direct labor cost. The jacuzzis for customers Farley, Hendricks, and Minor were completed during May. Each jacuzzi was sold for $12,500 cash. Instructions: Account Title Amount Account Title Amount Account Title Amount Account Title Amount Account Title Amount Account Title Amount...
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p2-3a - FileName:...

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