Davidson Outdoor Equipment Company manufactures kayaks in a wide variety of lengths and styles. The following incomplete ledger accounts refer to transactions that are summarized for August:
?
In addition, the following information is available:
a. Materials and direct labor were applied to six jobs in August:
?
b. Factory overhead is applied to each job at a rate of 50% of direct labor cost.
c. The August 1 Work in Process balance consisted of two jobs, as follows:
?
d. Customer jobs completed and units sold in August were as follows:
?
Instructions
1. Determine the missing amounts associated with each letter. Provide supporting calculations by completing a table with the following headings:
?
2. Determine the August 31 balances for each of the inventory accounts and factoryoverhead.