## Answers

**Answer:**

Direct | Direct | Overhead | Total | |

Job | materials | labor | applied | |

101 | $2,960 | $1,950 | $1,560 | $6,470 |

102 | $3,610 | $2,630 | $1,755 | $7,995 |

103 | $2,400 | $1,290 | $1,170 | $4,860 |

104 | $8,110 | $4,840 | $4,550 | $17,500 |

105 | $5,150 | $3,690 | $2,275 | $11,115 |

106 | $3,760 | $2,340 | $1,560 | $7,660 |

Total | $25,990 | $16,740 | $12,870 | $55,600 |

Overhead Aapplied = Machine hour x Factory Overhead rate

**Total cost of jobs completed:**

jobs | Amount |

101 | $6,470 |

102 | $7,995 |

103 | $4,860 |

105 | $11,115 |

Total cost of jobs completed | $30,440 |

**Cost of jobs sold and sale price:**

jobs | COGS | Sale |

101 | $6,470 | $7,760 |

102 | $7,995 | $9,590 |

105 | $11,115 | $14,090 |

Total | $25,580 | $31,440 |

**Journal Entries:**

Account titles | Debit | Credit | |

a) | Raw materials inventory | $3,320 | |

Accounts payable | $3,320 | ||

b) | Work in process inventory | $42,730 | |

Factory overhead | $3,900 | ||

Raw materials invetory | $27,000 | ||

Factory wages payable | $19,630 | ||

c) | Factory overhead | $5,650 | |

accounts payable | $5,650 | ||

d) | Factory overhead | $1,380 | |

Accumulated depreciation | $1,380 | ||

e) | work in process inventory | $12,870 | |

Factory overhead | $12,870 | ||

f) | finished goods inventory | $30,440 | |

work in process inventory | $30,440 | ||

g) | accounts receivable | $31,440 | |

sales | $31,440 | ||

h) | Cost of goods sold | $25,580 | |

Finished goods inventory | $25,580 |

Work in process inventory | |||

b) | $42,730 | f) | $30,440 |

e) | $12,870 | ||

Balance | $25,160 |

Finished goods inventory | |||

f) | $30,440 | g) | $25,580 |

Balance | $4,860 |

**Schedule of unfinished jobs:**

Direct | Direct | Overhead | Total | |

Job | materials | labor | applied | |

104 | $8,110 | $4,840 | $4,550 | $17,500 |

106 | $3,760 | $2,340 | $1,560 | $7,660 |

Work in process inventory | $25,160 |

**Schedule of finished jobs:**

Direct | Direct | Overhead | Total | |

Job | materials | labor | applied | |

103 | $2,400 | $1,290 | $1,170 | $4,860 |

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