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Blossom Inc. is a construction company specializing in custom patios. The patios are conste concrete, brick, fiberglass, and lumber, depending on customer preference. On June 1, 202 general ledger for Blossom Inc. contains the following data. Raw Materials Inventory S4,100 Manufacturing Overhead Applied $31, Work in Process Inventory S5,250 Manufacturing Overhead Incurred S28, Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Rodgers Stevens Linton Direct materials S600 S700 $800 Direct labor 300 600 500 Manufacturing overhead 375 750 625 S1,275 $2,050 S1,925 uring June, raw materials purchased on account were $5,000, and $4,700 of factory wages were aid. Additional overhead costs consisted of depreciation on equipment $800 and miscellaneous sts of $400 incurred on account.

Blossom Inc. is a construction company specializing in custom patios. The patios are conste concrete, brick, fiberglass, and lumber, depending on customer preference. On June 1, 202 general ledger for Blossom Inc. contains the following data. Raw Materials Inventory S4,100 Manufacturing Overhead Applied $31, Work in Process Inventory S5,250 Manufacturing Overhead Incurred S28, Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Rodgers Stevens Linton Direct materials S600 S700 $800 Direct labor 300 600 500 Manufacturing overhead 375 750 625 S1,275 $2,050 S1,925 uring June, raw materials purchased on account were $5,000, and $4,700 of factory wages were aid. Additional overhead costs consisted of depreciation on equipment $800 and miscellaneous sts of $400 incurred on account.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Blossom Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending on customer preference. On June 1, 2022, the general ledger for Blossom Inc. contains the following data. Raw Materials Inventory $4,100 Manufacturing Overhead Applied $31,200 Work in Process Inventory S5,250 Manufacturing Overhead Incurred $28,800 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Rodgers Stevens Linton Direct materials $600 $700 $800 Direct labor 300 600 500 Manufacturing overhead 375 750 625 $1,275 $2,050 $1,925 During June, raw materials purchased on account were $5,000, and $4,700 of factory wages were paid. Additional overhead costs consisted of depreciation on equipment S800 and miscellaneous costs of $400 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Customer Job Materlals Requlsitlon Slips Time Tickets Rodgers S700 $1,000 Koss 2,100 900 Stevens 400 Linton 1,400 1,100 Rodgers 400 300 5,000 3,700 General use 1,400 1,000 S6,400 S4,700 Overhead was assigned to jobs at the same rate of $1.25 per dollar of direct labor cost throughout the year. The patios for customers Rodgers, Stevens, and Linton were completed during June and sold for a total of $18,600. Each customer paid in full at the time of sale. (d) Prepare a cost of goods manufactured schedule for June.
Transcribed Image Text:Blossom Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending on customer preference. On June 1, 2022, the general ledger for Blossom Inc. contains the following data. Raw Materials Inventory $4,100 Manufacturing Overhead Applied $31,200 Work in Process Inventory S5,250 Manufacturing Overhead Incurred $28,800 Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Rodgers Stevens Linton Direct materials $600 $700 $800 Direct labor 300 600 500 Manufacturing overhead 375 750 625 $1,275 $2,050 $1,925 During June, raw materials purchased on account were $5,000, and $4,700 of factory wages were paid. Additional overhead costs consisted of depreciation on equipment S800 and miscellaneous costs of $400 incurred on account. A summary of materials requisition slips and time tickets for June shows the following. Customer Job Materlals Requlsitlon Slips Time Tickets Rodgers S700 $1,000 Koss 2,100 900 Stevens 400 Linton 1,400 1,100 Rodgers 400 300 5,000 3,700 General use 1,400 1,000 S6,400 S4,700 Overhead was assigned to jobs at the same rate of $1.25 per dollar of direct labor cost throughout the year. The patios for customers Rodgers, Stevens, and Linton were completed during June and sold for a total of $18,600. Each customer paid in full at the time of sale. (d) Prepare a cost of goods manufactured schedule for June.
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