Caldon Products started and finished job no. C19 during June. The job required $15,000 of direct material and 75 hours of direct labor at $12 per hour. The predetermined overhead rate is $16 per direct labor hour.During June, direct materials requisitions for all jobs totaled $149,000; the total direct labor hours and cost were 6,200 hours at $12 per hour; and the total cost of jobs completed was $337,500. All of these figures include data that pertain to job no. C19.Required: A. Prepare journal entries that summarize June's total activity.B. Determine the cost of job no. C19.
What will be an ideal response?
| A. | Work-in-Process Inventory | 149,000 | ? |
| ? | Raw-Material Inventory | ? | 149,000 |
| ? | ? | ? | ? |
| ? | Work-in-Process Inventory | 74,400 | ? |
| ? | Wages Payable | ? | 74,400 |
| ? | ? | ? | ? |
| ? | Work-in-Process Inventory | 99,200 | ? |
| ? | Manufacturing Overhead | ? | 99,200 |
| ? | ? | ? | ? |
| ? | Finished-Goods Inventory | 337,500 | ? |
| ? | Work-in-Process Inventory | ? | 337,500 |
| ? | ? | ? | ? |
| B. | Direct material | $15,000 | ? |
| ? | Direct labor (75 × $12) | 900 | ? |
| ? | Manufacturing overhead applied (75 x $16) | 1,200 | ? |
| ? | Total cost of Job No. C19 | $17,100 | ? |
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