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Labor Time Sheets, Job Cost RecordSubsidiary Ledger: Work-in-Process Inventory Records by Jobsvi.Finished Goods Controlb400,900Work in Process Control400,900Source Document: Job Cost Record, Completed Job Cost RecordSubsidiary Ledger: Work-in-Process Inventory Records by Jobs, Finished Goods Inventory Records by Jobs4-11
2.T-accountsDirect Materials ControlBal. 1/1/2011(1)Accounts Payable Control (Purchases)9,800122,000(2)Work-in-Process Control (Materials used)118,800Bal. 12/31/201113,000Work-in-Process ControlBal. 1/1/2011(2)Materials Control (Direct materials used)(3)Wages Payable Control (Direct manuf. labor)(5)Manuf. Overhead Allocated6,300118,80083,000215,800(6)Finished Goods Control (Cost of goods manufactured)400,900Bal. 12/31/201123,000Finished Goods ControlBal. 1/1/2011(6)WIP Control(Cost of goods manuf.)68,000400,900(7)Cost of Goods Sold441,900Bal. 12/31/201127,000Cost of Goods Sold(7)Finished Goods Control (Goods sold)441,900(8)Manufacturing Overhead Allocated (Adjust for overallocation)12,900Manufacturing Overhead Control(3)Wages Payable Control(Indirect manuf. labor)(4)Salaries Payable Control (Maintenance)(4)Accounts Payable Control (Miscellaneous)(4)Accum. Deprn. Control (Depreciation)(4) Rent Payable Control (Rent)54,00029,0009,90032,00078,000(8)To close202,900Bal. 0Manufacturing Overhead Allocated(8)To close215,800(5)Work-in-Process Control (Manuf. overhead allocated)215,800Bal.04-13
4-26(45 min.)Job costing, journal entries.Some instructors may wish to assign Problem 4-25. It demonstrates the relationships of journalentries, general ledger, subsidiary ledgers, and source documents.1.An overview of the product-costing system is2.Amounts in millions.(1)Materials ControlAccounts Payable Control154154(2)Work-in-Process ControlMaterials Control152152(3)Manufacturing Department Overhead ControlMaterials Control1919(4)Work-in-Process ControlWages Payable Control9696(5)Manufacturing Department Overhead ControlWages Payable Control3434(6)Manufacturing Department Overhead ControlAccumulated Depreciation2828(7)Manufacturing Department Overhead ControlVarious liabilities1313(8)Work-in-Process Control