Problem 16-3A Case Inc. is a construction company specializing in oustom patios.

Question

Problem 16-3A Case Inc. is a construction company specializing in oustom patios. The patios are constructed of concrete, brick, fiberglass, Raw Materials Inventory work in Process Inventory $ 6,149 Manufacturing Overhead incumed 35.32 Subsidiary data for Work in Process Inventory on June 1 are as follows and lumber, depending upon customer preference. On June 1, 2017, the general ledger for Case Inc. contains the t 4,662 Manufacturing Overhead Applied 36,230 Job Cost Sheets Job Cost Element Direct materials Direct labor Manufacturing overhead Stevens Linton s 666 355 599 644 805 2,236 2,448 S 1,465 During June, raw materials purchased on account were s 5,439, and all wages were paid. Additional overhead costs consisted of depreciation on equipment s 999 and miscellaneous costs of $ 444 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Customer Materials Requisition 944 2,220 400 1,332 433 3,997 1.332 Linton 1,443 Rodgers 5,439 1.665 General use

Explanation / Answer

WIP Inventory account: Op Bal 6149 Completed work 16363 6149+3219+3109+3109*1.25=16363 DM 5439 Cl Bal 4218 DL 3997 O/H applied 4996 3997*1.25 20581 Total 20581 Reconciliation of closing balance $4218 DM DL OH Total Koss 2220 888 1110 4218 Cost of Goods Manufactured Schedule: WIP june 1 6149 DM used 5439 DL 3997 M OH applied 4996 Total Manuf Costs 14432 Total cost of WIP 20581 less: WIP june 30 -4218 Cost of Goods Manuf. 16363

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