144.The Merker Manufacturing Company has the following job cost sheets on file. They represent jobs that have been worked on during April of the current year. This table summarizes information provided on each sheet:
NumberTotal Cost IncurredStatus of Job
544$15,050Finished and delivered
545$22,400Finished and delivered
546$7,500Finished and unsold
547$4,300Finished and delivered
548$33,000Unfinished
549$62,000Finished and unsold
550$14,600Unfinished
551$22,200Finished and delivered
552$3,600Finished and unsold
553$1,000Unfinished
(a) What is the cost of goods sold for the month of April?
(b) What is the cost of the Work in Process inventory on April 30?
(c) What is the cost of the finished goods inventory on April 30?
550$14,600Unfinished
553 1,000Unfinished
145.The Luna Manufacturing Company has the following job cost sheets on file. They represent jobs that have been worked on during September of the current year. This table summarizes information provided on each sheet:
NumberTotal Cost IncurredStatus of Job
951$4,200Finished and delivered
952$7,700Unfinished
953$9,300Finished and unsold
954$11,100Finished and delivered
955$3,000Finished and unsold
956$5,500Finished and delivered
957$35,000Unfinished
958$3,200Finished and delivered
959$500Unfinished
960$22,110Unfinished
961$7,200Finished and delivered
962$8,500Unfinished
963$11,200Finished and unsold
146.Chung Corporation uses a job order costing system. Five jobs were worked on during the current year. The predetermined overhead rate is 20% of direct labor costs. The following cost information is available (all materials and time ticket information applies to direct costs):
JobMaterials RequisitionsTime Tickets
101$66,000$32,000
102$63,000$74,000
103$39,000$50,000
104$32,000$36,000
105$53,000$68,000
Part 1-Complete the job cost sheets for each job.
Job No. 101Job No. 102Job No. 103
Materials Materials Materials
Labor Labor Labor
Overhead Overhead Overhead
Total Cost Total Cost Total Cost
StatusIn ProcessStatusSoldStatusFinished
Job No. 104Job No. 105
Materials Materials
Labor Labor
Overhead Overhead
Total Cost Total Cost
StatusSoldStatusFinished
Part 2-Identify the amounts of each of the following accounts at the end of the period
a. Work in Process ____________________
b. Finished Goods ____________________
c. Cost of Goods Sold ____________________