Question

Problem 20-03A a-d (Video) Blossom Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2020, the general ledger for Blossom Inc. contains the following data. Raw Materials Inventory $4,500 Manufacturing Overhead Applied $34,100 Work in Process Inventory $5,150 Manufacturing Overhead Incurred $31,100 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Rodgers Stevens Linton Direct materials $500 $700 $800 Direct labor 300 600 500 Manufacturing overhead 375 750 625 $1,175 $2,050 $1,925 During June, raw materials purchased on account were $4,900, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $800 and miscellaneous costs of $400 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Customer Job Materials Requisition Slips Time Tickets Rodgers $700 $800 Koss 2,000 800 Stevens 500 400 Linton 1,400 1,300 Rodgers 300 500 4,900 3,800 General use 1,600 1,200 $6,500 $5,000 Overhead was charged to jobs at the same rate of $1.25 per dollar of direct labor cost. The patios for customers Rodgers, Stevens, and Linton were completed during June and sold for a total of $20,200. Each customer paid in full.

Journalize the June transactions: (1) for purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred; (2) assignment of direct materials, labor, and overhead to production; and (3) completion of jobs and sale of goods. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Post the entries to Work in Process Inventory. (Post the entries to Work in Process Inventory in the order presented in the problem.) Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. Prepare a costs of goods sold manufactured schedule for June

Answer 1