Question

In: Accounting

Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete,...

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, 2020, the general ledger for Case Inc. contains the following data.

Raw Materials Inventory $4,100 Manufacturing Overhead Applied $33,800
Work in Process Inventory $5,675 Manufacturing Overhead Incurred $28,600


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 $900 $800
Direct labor 200 600 700
Manufacturing overhead 250 750 875
$1,050 $2,250 $2,375


During June, raw materials purchased on account were $4,700, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $800 and miscellaneous costs of $300 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 $900 $800
Koss 1,800 800
Stevens 400 400
Linton 1,300 1,300
Rodgers 300 400
4,700 3,700
General use 1,400 1,400
$6,100 $5,100


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 $20,000. Each customer paid in full.

Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs. Prepare a cost of goods manufactured schedule for June.

Solutions

Expert Solution



Related Solutions

Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete,...
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, 2020, the general ledger for Case Inc. contains the following data. Raw Materials Inventory $3,800 Manufacturing Overhead Applied $35,800 Work in Process Inventory $4,800 Manufacturing Overhead Incurred $29,800 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...
Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete,...
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, 2020, 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...
Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete,...
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 $ 4,536 Manufacturing Overhead Applied $ 35,251 Work in Process Inventory $ 5,983 Manufacturing Overhead Incurred $ 34,182 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Rodgers...
Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete,...
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, 2020, the general ledger for Case Inc. contains the following data. Raw Materials Inventory $3,900 Manufacturing Overhead Applied $31,800 Work in Process Inventory $5,475 Manufacturing Overhead Incurred $34,600 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...
Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete,...
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 $ 4,326 Manufacturing Overhead Applied $ 33,619 Work in Process Inventory $ 5,706 Manufacturing Overhead Incurred $ 32,600 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Rodgers...
Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete,...
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, 2020, the general ledger for Case Inc. contains the following data. Raw Materials Inventory $4,600 Manufacturing Overhead Applied $35,000 Work in Process Inventory $5,425 Manufacturing Overhead Incurred $29,800 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...
Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete,...
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, 2020, the general ledger for Case Inc. contains the following data. Raw Materials Inventory $3,800 Manufacturing Overhead Applied $34,900 Work in Process Inventory $5,775 Manufacturing Overhead Incurred $30,800 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...
Wildhorse Inc. is a construction company specializing in custom patios. The patios are constructed of concrete,...
Wildhorse 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 Wildhorse Inc. contains the following data. Raw Materials Inventory $4,400 Manufacturing Overhead Applied $34,100 Work in Process Inventory $5,550 Manufacturing Overhead Incurred $34,300 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...
Problem 20-3A Case Inc. is a construction company specializing in custom patios. The patios are constructed...
Problem 20-3A 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 $4,998 Manufacturing Overhead Applied $38,842 Work in Process Inventory $6,593 Manufacturing Overhead Incurred $37,664 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Rodgers Stevens Linton...
Problem 20-3A Case Inc. is a construction company specializing in custom patios. The patios are constructed...
Problem 20-3A 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 $4,368 Manufacturing Overhead Applied $33,946 Work in Process Inventory $5,762 Manufacturing Overhead Incurred $32,916 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Rodgers Stevens Linton...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT