p2-5b - Name: Date: Instructor: Course: rd Managerial...

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FileName: a81e1ac21d06eaad1aa66d59b3358d36d6ef93e9.xls, Tab: Problem P2-5B, Page 1 of 2, 12/28/2011, 19:01:56 Name: Date: Instructor: Course: Raw Materials 12/01 Beginning balance (a) 12/31 Requisitions 16,850 12/31 Purchases 19,225 12/31 Ending balance 7,975 Work in Process Inventory 12/01 Beginning balance (b) 12/31 Jobs completed (f) 12/31 Direct materials (c) 12/31 Direct labor 8,800 12/31 Overhead (d) 12/31 Ending balance (e) Finished Goods Inventory 12/01 Beginning balance (g) 12/31 Cost of goods sold (i) 12/31 Completed jobs (h) 12/31 Ending balance (j) Factory Labor 12/31 Factory wages 12,025 12/31 Wages assigned (k) Manufacturing Overhead 12/31 Indirect materials 1,900 12/31 Overhead applied (m) 12/31 Indirect labor (l) 12/31 Other overhead 1,245 Other information: 1. On December 1, two jobs were in process: Job No. 154 and Job No. 155. These jobs had combined direct materials of $9,750 and direct labor costs of $15,000 Overhead was applied at a rate that was 75% of direct labor cost. 2. During December, Job Nos. 156, 157, and 158 were started. On December 31, Job No. 158 was unfinished. This job had charges for direct
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p2-5b - Name: Date: Instructor: Course: rd Managerial...

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