Rodman corporations fiscal year ends on november 30 the

Reference no: EM13586402

Rodman Corporation's fiscal year ends on November 30. The following accounts are found in its job order cost accounting system for the first month of the new fiscal year.

Other data:

On December 1, two jobs were in process: Job No. 154 and Job No. 155. These jobs had combined direct materials costs of $9,910 and direct labor costs of $15,600. Overhead was applied at a rate that was 75% of direct labor cost.

During December, Job Nos. 156, 157, and 158 were started. On December 31, Job No. 158 was unfinished. This job had charges for direct materials $4,300 and direct labor $5,400, plus manufacturing overhead. All jobs, except for Job No. 158, were completed in December.

On December 1, Job No. 153 was in the finished goods warehouse. It had a total cost of $5,600. On December 31, Job No. 157 was the only job finished that was not sold. It had a cost of $4,200.

4.Manufacturing overhead was $335 overapplied in December.List the letters (a) through (m) and indicate the amount pertaining to each letter.

Raw Materials Inventory

Dec. 1	Beginning balance		(a)
31	Purchases	21,240
Dec. 31	Ending balance	8,200

Dec. 31	Requisitions	17,700

Work in Process Inventory

Dec. 1	Beginning balance		(b)
31	Direct materials		(c)
31	Direct labor	9,300
31	Overhead		(d)
Dec. 31	Ending balance		(e)

Dec. 31	Jobs completed	(f)

Finished Goods Inventory

Dec. 1	Beginning balance	(g)
31	Completed jobs	(h)
Dec. 31	Ending balance	(j)

Dec. 31	Cost of goods sold	(i)

Factory Labor

Dec. 31

Factory wages

12,240

Dec. 31

Wages assigned

(k)

Manufacturing Overhead

Dec. 31	Indirect materials	2,100
31	Indirect labor		(l)
31	Other overhead	1,600

Dec. 31	Overhead applied	(m)

Reference no: EM13586402

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