Job Number Explanation Direct Materials Direct Labor Manufacturing Overhead Tota

Question

Job
Number

Explanation

Direct
Materials

Direct
Labor

Manufacturing
Overhead

Total
Costs

(a)

Work in Process Inventory

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(b)

Account Titles and Explanation

Debit

Credit

For the year ended December 31, 2014, the job cost sheets of Cinta Company contained the following data.

Job
Number

Explanation

Direct
Materials

Direct
Labor

Manufacturing
Overhead

Total
Costs

7640 Balance 1/1 $31,750 $30,480 $36,576 $98,806 Current year’s costs 38,100 45,720 54,864 138,684 7641 Balance 1/1 13,970 22,860 27,432 64,262 Current year’s costs 54,610 60,960 73,152 188,722 7642 Current year’s costs 73,660 69,850 83,820 227,330
Other data:
1. Raw materials inventory totaled $19,050 on January 1. During the year, $177,800 of raw materials were purchased on account. 2. Finished goods on January 1 consisted of Job No. 7638 for $110,490 and Job No. 7639 for $116,840. 3. Job No. 7640 and Job No. 7641 were completed during the year. 4. Job Nos. 7638, 7639, and 7641 were sold on account for $673,100. 5. Manufacturing overhead incurred on account totaled $152,400. 6. Other manufacturing overhead consisted of indirect materials $17,780, indirect labor $22,860, and depreciation on factory machinery $10,160.

Explanation / Answer

Answer:(a)

Answer:(b) Manufacturing overhead A/C Dr. $8636

                      To Cost of goods sold A/C                 $8636

Work in Process Inventory A/C Date Particulars Amount ($) Particulars Amount ($) 1/1 Balance 163068 Completed work 490474 Direct material 166370 Direct Labor 176530 Manufacturing Overhead 211836 12/31 Balance 227330

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