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Enos Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2010, the general ledger for Enos Inc. contains the following data.
Raw Materials Inventory
$4,547

Manufacturing Overhead Applied
$32,579
Work in Process Inventory
$5,113

Manufacturing Overhead Incurred
$32,005
Subsidiary data for Work in Process Inventory on June 1 are as follows.

Job Cost Sheets


Customer Job

Cost Element
Fowler
Haines
Krantz

Direct materials
$ 542
$ 784
$ 949

Direct labor
360
510
420

Manufacturing overhead
432
612
504


$1,334
$1,906
$1,873
During June, raw materials purchased on account were $4,334, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $710 and miscellaneous costs of $472 incurred on account.?A summary of materials requisition slips and time tickets for June shows the following.

Customer Job
Materials?Requisition Slips
Time Tickets

Fowler
$ 756

$ 450


Elgin
2,499

790


Haines
447

360


Krantz
1,922

1,600


Fowler
324

400

 

5,948

3,600


General use
1,819

1,700

 

$7,767

$5,300

Overhead was charged to jobs at the same rate of $1.2 per dollar of direct labor cost. The patios for customers Fowler, Haines, and Krantz were completed during June and sold for a total of $18,417. Each customer paid in full.

Correct.


Journalize the June transactions: (i) for purchase of raw materials, factory labor costs incurred, and manufacturing overhead costs incurred; (ii) assignment of direct materials, labor, and overhead to production; and (iii) completion of jobs and sale of goods. (For multiple debit/credit entries, list amounts from largest to smallest eg 10, 5, 3, 2.)
Account/Description
Debit
Credit
Raw materials inventory
4334

Accounts payable

4334
(Purchase of raw materials.)


Factory labor
5300

Cash

5300
(To record factory labor costs.)


Manufacturing overhead
1182

Acc. Depreciation-Equipment

710
Accounts payable

472
(To record manufacturing overhead costs.)


Work in process inventory
5948

Manufacturing overhead
1819

Raw materials inventory

7767
(To assign raw materials to production.)


Work in process inventory
3600

Manufacturing overhead
1700

Factory labor

5300
(To assign factory labor to production.)


Work in process inventory
4320

Manufacturing overhead

4320
(To assign manufacturing overhead to production.)
Finished goods inventory
14744

Work in process inventory

14744
(To record completion of jobs.)


Cash
18417

Sales

18417
(To record sale of jobs.)


Cost of goods sold
14744

Finished goods inventory

14744
(To record cost of jobs.)

 

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