Case Inc. is a 1, 2017, the general ledger for Case Inc. contains the following

Question

Case Inc. is a 1, 2017, the general ledger for Case Inc. contains the following data. patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon custorner preference. On June Raw Materials Inventory Work in Process Inventory $4,200 $5,540 Manufacturing Overhead Applied Manufacturing overhead Incurred $32,640 $31,650 Subsidiary data for Work in Process Inventory on June 1 are as follows. Customer Job st Element Direct materials Direct labor Manufacturing overhead Rodgers evensLinton $600 320 400 $1,320 $800 $900 725 $2,205 $2,015 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 shows the following Time Tickets Customer Materials Requisition Job Slips $800 2,000 500 1,300 300 Rodgers $850 800 360 1,200 390 Koss Linton Rodgers

Explanation / Answer

Answer 1. Journal Entry Date Particulars Dr. Amt. Cr. Amt. 1-a. Raw Materials Inventory                     Dr.          4,900 To Accounts Payable          4,900 (To record purchase of raw materials) 1-b. Factory Labor                                            Dr.          4,800 To Cash          4,800 (To record factory labor costs paid) 1-c. Manufacturing Overhead                     Dr.          1,300 To Accumulated Dep. - Equipment             900 To Accounts Payable             400 (To record the manufacturing overhead incurred) 2-a. WIP Inventory                                           Dr.          4,900 Manufacturing Overhead                     Dr.          1,500 To Raw Materials Inventory          6,400 (To record assignment of direct materials) 2-b. WIP Inventory                                           Dr.          3,600 Manufacturing Overhead                     Dr.          1,200 To Factory Labor          4,800 (To record assignment of factory labor) 2-c. WIP Inventory                                           Dr.          4,500 To Manufacturing Overhead          4,500 (To record assignment of Manufacturing Overhead) Manufacturing Overhead Applied = $1.25 X $3,600 Manufacturing Overhead Applied = $4,500 3-a. Finished Goods Inventory                    Dr.       14,740 To WIP Inventory       14,740 (To record completion of jobs) 3-b. Cash                                                                Dr.       18,900 To Sales Revenue       18,900 (To record sale of goods) 3-c. Cost of Goods Sold                                   Dr.       14,740 To Finished Goods Inventory       14,740 (To record cost of goods sold) Job Sheet Rodgers Stevens Linton Koss Total Beginning Balance               1,320              2,015               2,205                     -                5,540 Direct Materials               1,100                  500               1,300              2,000              4,900 Direct Labor               1,240                  360               1,200                  800              3,600 Manufacturing Ovrehead Applied               1,550                  450               1,500              1,000              4,500 Total               5,210              3,325               6,205              3,800           18,540 Jobs Completed Completed Completed Completed WIP

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