Question

I need to Prepare entries for a job order, cost system, and cost of goods manufactured schedule, but my numbers aren't matching up. Please answer both parts of the question.

Case 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, 2017, the general ledger for Case Inc. contains the following data.

P15-3A Prepare entries for a job order cost system and cost of goods manufactured schedule Case 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, 2017,   the general ledger for Case Inc. contains the following data. Raw Materials Inventory $4,200 Manufacturing Overhead Applied $32,640 Work in Process Inventory $5,540 Manufacturing Overhead Incurred $31,650 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 $600 $800 $900 Direct labor             320                  540                 580 Manufacturing overhead             400                  675                 725 $1,320 $2,015 $2,205     During June, raw materials purchased on account were $4,900, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $900 and miscellaneous costs of $400 incurred on account.     A summary of materials requisition slips and time tickets for June show the following. Customer Job Materials Requisition slips Time tickets Rodgers $         800 $850 Koss          2,000 800 Stevens             500 360 Linton          1,300 1,200 Rodgers             300 390          4,900 3,600 General use          1,500 1,200 $      6,400 $4,800     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 $18,900. Each customer paid in full. Instructions (a) 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. (b) Post the entries to Work in Process Inventory. (c ) Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. (d) Prepare a cost of goods manufactured schedule for June. NOTE: Enter a number in cells requesting a value; enter either a number or a formula in cells with a "?" . (a)(1) Journalize the June transactions for purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred Raw Malerials Inventory Accounts Payable Factory Labor Cash Manufacturing Overhead Accumulated Depreciation- Equipment Accounts Payable (a)(2) Journalize the June transactions for assignment of direct materials, labor, and overhead to production Work in Pricess Inventory Manufacturing Overhead Raw Malerials Inventory Work in Pricess Inventory Manufacturing Overhead Factory Labor Work in Pricess Inventory Manufacturing Overhead (a)(3) Journalize the June transactions for completion of jobs and sale of goods. Finished Goods Inventory Work in Process Inventory Cash Sales Cost of Goods Sold Finished Goods Inventory (b) Post the entries to Work in Process Inventory. Work in Process Inventory 6/1 Balance June Completed work Direct Materials Direct labor Overhead applied 6/30 Balance (c ) Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. 6/30 balance in Work in Process Inventory Unfinished Job (Koss)      Direct materials      Direct labor      Manufacturing overhead (d) Prepare a cost of goods manufactured schedule for June. CASE INC. Cost of Goods Manufactured Schedule For the Month Ended June 30, 2017 Work in process, June 1 Direct materials used Direct labor Manufacturing overhead applied      Total manufacturing costs Total cost of work in process Less: Work in process, June 30     Cost of goods manufactured After you have completed P15-3A, consider the following additional question. 1. Assume that indirect labor and raw materials purchases changed to $1,400 and $6,800 respectively. Also assume that overhead is applied at the rate of $1.50 per dollar of direct labor. The three completed jobs were sold for $22,000 cash. Revise the journal entries to reflect these changes.

Answer 1

Customer Job	Beginning Bal	Materials Requisition slips	Time tickets D	Overhead D*1.25	Total	Completed	Ending WIP
Rodgers	$1,320	800	$850	$1,063	$4,033	$4,033
Koss		2000	800	$1,000	$3,800		$3,800
Stevens	2015	500	360	$450	$3,325	$3,325
Linton	2205	1300	1,200	$1,500	$6,205	$6,205
Rodgers		300	390	$488	$1,178	$1,178
	$5,540	$4,900	$3,600	$4,500	$18,540	$14,740	$3,800
	Accounts Title	Dr	Cr
a1	Raw Malerials Inventory	$4,900
	Accounts Payable		$4,900
	Factory labor	$4,800
	Cash		$4,800
	Manufacturing Overhead	1300
	Accumulated Depreciation- Equipment		900
	Accounts Payable		400
	(a)(2)
	Work in Process Inventory	4900
	Manufacturing Overhead	1500
	Raw Malerials Inventory		6400
	Work in Process Inventory	3600
	Manufacturing Overhead	1200
	Factory Labor		4800
	Work in Process Inventory (3600*1.25)	4500
	Manufacturing Overhead		4500
	(a)(3)
	Finished Goods Inventory	$14,740
	Work in Process Inventory		$14,740
	(
	Cash	18900
	Sales		18900
	Cost of Goods Sold	$14,740
	Finished Goods Inventory		$14,740
	(b)
	Work in Process Inventory
1-Jun	Balance	5540	June	Completed work	$14,740
	Direct Materials	$4,900
	Direct labor	$3,600
	Overhead applied	$4,500
30-Jun	Balance	$3,800
(see from job cost sheet)
	(c )
	6/30 balance in Work in Process Inventory
	Unfinished Job (Koss)
	Direct materials	2000
	Direct labor	800
	Manufacturing overhead	1000
		3800
	(d)
	CASE INC.
	Cost of Goods Manufactured Schedule
	For the Month Ended June 30, 2017
	Work in process, June 1		5540
	Direct materials used	$4,900
	Direct labor	$3,600
	Manufacturing overhead applied	$4,500
	Total manufacturing costs		$13,000
	Total cost of work in process		$18,540
	Less: Work in process, June 30		3800
	Cost of goods manufactured		$14,740
Changes
Customer Job	Beginning Bal	Materials Requisition slips	Time tickets D	Overhead D*1.5	Total	Completed	Ending WIP
Rodgers	$1,320	800	$850	$1,275	$4,245	$4,245
Koss		2000	800	$1,200	$4,000		$4,000
Stevens	2015	500	360	$540	$3,415	$3,415
Linton	2205	1300	1,200	$1,800	$6,505	$6,505
Rodgers		300	390	$585	$1,275	$1,275
	$5,540	$4,900	$3,600	$5,400	$19,440	$15,440	$4,000
	a1	Dr	Cr
	Raw Malerials Inventory	$6,800
	Accounts Payable		$6,800
	Factory labor (3600+1400)	$5,000
	Cash		$5,000
	Manufacturing Overhead	1300
	Accumulated Depreciation- Equipment		900
	Accounts Payable		400
	(a)(2)
	Work in Process Inventory	4900
	Manufacturing Overhead	1500
	Raw Malerials Inventory		6400
	Work in Process Inventory	3600
	Manufacturing Overhead	1400
	Factory Labor		5000
	Work in Process Inventory (3600*1.5)	5400
	Manufacturing Overhead		5400
	(a)(3)
	Finished Goods Inventory	$15,440
	Work in Process Inventory		$15,440
	Cash	22000
	Sales		22000
	Cost of Goods Sold	$15,440
	Finished Goods Inventory		$15,440
	(b)
	Work in Process Inventory
1-Jun	Balance	5540	June	Completed work	$15,440
	Direct Materials	4900
	Direct labor	3600
	Overhead applied	$5,400
30-Jun	Balance	$4,000
(see from job cost sheet)
	(c )
	6/30 balance in Work in Process Inventory
	Unfinished Job (Koss)
	Direct materials	2000
	Direct labor	800
	Manufacturing overhead	$1,200
		4000
	(d)
	CASE INC.
	Cost of Goods Manufactured Schedule
	For the Month Ended June 30, 2017
	Work in process, June 1		5540
	Direct materials used	$4,900
	Direct labor	$3,600
	Manufacturing overhead applied	$5,400
	Total manufacturing costs		$13,900
	Total cost of work in process		$19,440
	Less: Work in process, June 30		4000
	Cost of goods manufactured		$15,440