p2-3a - Name Date Instructor Course Managerial Accounting...

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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 Account Title Amount Account Title Amount Account Title Amount Account Title Amount Account Title Amount Account Title Amount Account Title
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