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Problem 16-3A (Part Level Submission) Stellar Inc. is a construction company specializing in custom patios. The patios are constructed of concrete,...

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Problem 16-3A (Part Level Submission) Stellar Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, Fberglass, and lumber, depending upon customer preference. On June 1, 2014, the general ledger for Stellar Inc. contains the following data. Raw Materials Inventory $6,300 Manufacturing Overhead Applied $48,960 Work in Process Inventory $8,311 Manufacturing Overhead Incurred $47,475 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Gannon Rosenthal Linton Direct materials $900 $1,200 $1,350 Direct labor 480 810 870 Manufacturing overhead 600 1,013 1,088 $1,980 $3,023 $3,308 During June, raw materials purchased on account were $7,350, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $1,050 and miscellaneous costs of $600 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Customer Job Materials Requisition Slips Time Tickets Gannon $1,200 $675 Koss 3,000 1,200 Rosenthal 750 540 Linton 1,950 1,800 Gannon 450 585 7,350 4,800 General use 2,250 1,800 $9,600 $6,600 Overhead was charged to jobs at the same rate of $1.25 per dollar of direct labor cost. The patios for customers Gannon, Rosenthal, and Linton were completed during June and sold for a total of $28,350. Each customer paid in full. (a) Journalize the June transactions: (i) for purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred; (ii) assignment of direct materials, labor, and overhead to production; and (iii) completion of jobs and sale of goods. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 2,500.) No. Account Titles and Explanation Debit Credit
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(i) (To record purchase of raw materials) (To record factory labor costs incurred) (To record manufacturing overhead costs incurred) (ii) (To record assignment of direct materials) (To record assignment of factory labor) (To record assignment of manufacturing overhead) (iii) (To record completion of jobs) (To record sale of goods) (To record the cost of goods sold) Click if you would like to Show Work for this question: Open Show Work
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Please find Attached the Solution. There are two tabs Names Journal... View the full answer

Stellar Inc Solution.xlsx

A B C Particulars
Raw Material
Accounts Payable
(Purchase of Raw Material) Debit
Credit
7350
7350 Labour
Cash
(Factory Labour) 6600 Manufacturing Overhead
Accumulated Depreciation
Accounts Payable...

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