Long Board Company Manufactures designer paddle boards in a wide variety of sizes and styles. The following incomplete ledger accounts refer to transactions that are summarized for May:
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In addition, the following information is available:
a. Materials and direct labor were applied to six jobs in May:
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b. Factory overhead is applied to each job at a rate of 150% of direct labor cost.
c. The May 1 work in process balance consisted of two jobs, as follows:
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d. Customer jobs completed and units sold in May were as follows:
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Instructions
1. Determine the missing amounts associated with each letter. Provide supporting calculations by completing a table with the following headings:
2. Determine the May 31 balances for each of the inventory accounts and factory overhead.
