Hello , I need your help with part b . Part A aleardy done with corrected answer

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Hello , I need your help with part b . Part A aleardy done with corrected answer but I struggle with part b and there are two part left depend on it. Please help me with the part b and if you have an idea abot the rest I will be so greatful and thankfull if you work on it.>>>>>>>>

Problem 15-3A (Part Level Submission) Stellar 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, 2014, the general ledger for Stellar Inc. contains the following data.

Raw Materials Inventory $5,347

Manufacturing Overhead Applied $41,551

Work in Process Inventory $7,051

Manufacturing Overhead Incurred $40,290

Subsidiary data for Work in Process Inventory on June 1 are as follows. Job Cost Sheets Customer Job Cost Element Gannon Rosenthal Linton

Direct materials $764 $1,018 $1,146

Direct labor 407 687 738

Manufacturing overhead 509 859 923

$1,680 $2,564 $2,807

During June, raw materials purchased on account were $6,238, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $891 and miscellaneous costs of $509 incurred on account. A summary of materials requisition slips and time tickets for June shows the following.

Customer Job Materials Requisition Slips   TimeTickets

Gannon $1,018 $573

Koss 2,546 1,018

Rosenthal 637 458

Linton 1,655 1,528

Gannon 382 496

6,238 4,073

General use 1,910 1,528

$8,148 $5,601

Overhead was charged to jobs at the same rate of $1.25 per dollar of direct labor cost. The patios for customers Gannon, Rosenthal, and Linton were completed during June and sold for a total of $24,060. Each customer paid in full.

___________________________________________________________________________________________________

A)

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.

Answers

No. Account Titles and Explanation Debit Credit

(i) Raw Materials Inventory 6238

Account Payable 6238

Factory Labor Entry field with correct answer 5601

Cash 5601

Manufacturing Overhead 1400

Accumulated Depreciation-Equipment Entry 891

Accounts Payable Entry 509

________________

(To record manufacturing overhead costs incurred)

(ii) Work in Process Inventory 6238

Manufacturing Overhead 1910

Raw Materials Inventory 8148

(To record assignment of direct materials)

Work in Process Inventory 4073

Manufacturing Overhead 1528

Operating Overhead 5601

(To record assignment of factory labor)

Work in Process Inventory 5091

Manufacturing Overhead 5091

(To record assignment of manufacturing overhead)

(iii) Finished Goods Inventory 17617

Work in Process Inventory 17617

(To record completion of jobs)

Cash 24060

Sales 24060

(To record sale of goods)

Cost of Goods Sold 17617   

Finished Goods Inventory 17617

(To record the cost of goods sold)

++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

(b) Partially correct answer. Your answer is partially correct.

Work in Process Inventory

6/1 Balance 7051 June Completed 17617

Direct labor

Direct materials

Overhead applied   5091

6/30 Balance

Explanation / Answer

Particulars Amount Particulars Amount 6/1 Balance ( Given) 7, 051 Completed 17,617 Direct Labor ( Entry) 4,073 Direct Materials ( Entry) 6,238 Overhead applied (Given) 5,091 6 / 30 Balance ( Balancing figure) 4,836 Total 22,453 Total 22,453

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