1Kubota Corporation manufactures equipment in batches for inventory stock. Assume that Kubota's production costs are accounted for using ajob cost system. At the beginning of April raw materials inventories totaled $7,480,000, manufacturing supplies amounted to $1,056,000, andfinished goods inventories totaled $5,280,000. Two jobs were in process: Job 522 with assigned costs of $5,152,000 and Job 523 with assignedcosts of $2,200,000. The following information summarizes April manufacturing activities:•Purchased raw materials costing $22,000,000 on account.•Purchased manufacturing supplies costing $2,640,000 on account.*Requisitioned materials needed to complete Job 523. Started two new jobs, 524 and 525, and requisitioned direct materials for them.Direct materialsJob 523 $2,640,000Job 524 11,352,000 IJob 525 8,448,000Total $22,440,000Job 522Job 523Job 524Job 525Total direct laborIndirect laborTotalRecorded April salaries and wages as follows:Required000Q160000020$000Direct labor( 120,000 hours × $25 per hour)( 760,000 hours × $25 per hour)(1,080,000 hours × $25 per hour)( 700,000 hours × $25 per hour)Job #522 Job # 523Beg. Bal. $1$2,000 0 $DM2200000 0DL0OHTotal00 $•Used manufacturing supplies costing $1,980,000.•Recognized depreciation on factory fixed assets of $4,640,000.Incurred miscellaneous manufacturing overhead costs of $5,800,000 on account.•Applied manufacturing overhead at the rate of $6.25 per direct labor hour.Completed Jobs 522, 523, and 524.Prepare a complete analysis of all activity in Work-in-Process (including job sheets), reconciling from the beginning to the ending balances.Note: Do not use a negative sign with any of your answers.0 $0$3,000,00016 000 00019,000,00027,000,000 24 000 0-17,500,00066,500,0005,680,000$72,180,000000 $Job # 52420.030 $0000 $مانJob # 52540 00000000Work in ProgressBegin BalanceDMDLOHless Completed JobsEnd Balance

Name: 1Kubota Corporation manufactures equipment in batches for inventory s
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: 1Kubota Corporation manufactures equipment in batches for inventory stock. Assume that Kubota's production costs are accounted for using ajob cost system. At the beginning of April raw materials inventories totaled $7,480,000, manufacturing supplies