Rodman Corporation’s fiscal year ends on November 30. The following accounts are found in its job order cost accounting system for the first month of the new fiscal year.
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Raw Materials Inventory
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Dec. 1
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Beginning balance
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(a)
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Dec. 31
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Requisitions
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16,850
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31
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Purchases
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19,225
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Dec. 31
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Ending balance
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7,975
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Work in Process Inventory
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Dec. 1
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Beginning balance
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(b)
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Dec. 31
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Jobs completed
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(f)
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31
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Direct materials
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(c)
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31
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Direct labor
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8,800
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31
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Overhead
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(d)
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Dec. 31
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Ending balance
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(e)
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Finished Goods Inventory
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Dec. 1
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Beginning balance
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(g)
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Dec. 31
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Cost of goods sold
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(i)
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31
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Completed jobs
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(h)
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Dec. 31
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Ending balance
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(j)
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Factory Labor
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Dec. 31
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Factory wages
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12,025
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Dec. 31
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Wages assigned
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(k)
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Manufacturing Overhead
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Dec. 31
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Indirect materials
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1,900
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Dec. 31
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Overhead applied
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(m)
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31
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Indirect labor
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(l)
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31
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Other overhead
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1,245
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Other data:
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1.
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On December 1, two jobs were in process: Job No. 154 and Job No. 155. These jobs had combined direct materials costs of $9,750 and direct labor costs of $15,000. Overhead was applied at a rate that was 75% of direct labor cost.
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2.
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During December, Job Nos. 156, 157, and 158 were started. On December 31, Job No. 158 was unfinished. This job had charges for direct materials $3,800 and direct labor $4,800, plus manufacturing overhead. All jobs, except for Job No. 158, were completed in December.
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3.
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On December 1, Job No. 153 was in the finished goods warehouse. It had a total cost of $5,000. On December 31, Job No. 157 was the only job finished that was not sold. It had a cost of $4,000.
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4.
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Manufacturing overhead was $230 overapplied in December.
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Instructions
List the letters (a) through (m) and indicate the amount pertaining to each letter.
