Type your question here Stellar Inc. is a construction company specializing in c
ID: 2375561 • Letter: T
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Stellar 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, 2014, the general ledger for Stellar Inc. contains the following data.Raw Materials Inventory $5,880 Manufacturing Overhead Applied $45,696 Work in Process Inventory $7,756 Manufacturing Overhead Incurred $44,310
Subsidiary data for Work in Process Inventory on June 1 are as follows.
Job Cost Sheets Customer Job Cost Element Gannon Rosenthal Linton Direct materials $840 $1,120 $1,260 Direct labor 448 756 812 Manufacturing overhead 560 945 1,015 $1,848 $2,821 $3,087
During June, raw materials purchased on account were $6,860, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $980 and miscellaneous costs of $560 incurred on account.
A summary of materials requisition slips and time tickets for June shows the following.
Customer Job Materials Requisition Slips Time Tickets Gannon $1,120 $630 Koss 2,800 1,120 Rosenthal 700 504 Linton 1,820 1,680 Gannon 420 546 6,860 4,480 General use 2,100 1,680 $8,960 $6,160
Overhead was charged to jobs at the same rate of $1.25 per dollar of direct labor cost. The patios for customers Gannon, Rosenthal, and Linton were completed during June and sold for a total of $26,460. Each customer paid in full.
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