Please complete all Problem 15-5A Rodman Corporation\'s fiscal year ends on Nove

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Please complete all

Problem 15-5A Rodman Corporation's fiscal year ends on November 30. The following accounts are found in its job order cost accounting system for the first month of the new fiscal year Other data 1. On December 1, two jobs were in process: Job No. 154 and Job No. 155. These jobs had combined direct materials costs of $9,900 and 2. During December, Job Nos. 156, 157, and 158 were started. On December 31, Job No. 158 was unfinished. This job had charges for direct 3. On December 1, Job No. 153 was in the finished goods warehouse. It had a total cost of $5,600. On December 31, Job No. 157 was the only 4. Manufacturing overhead was $215 overapplied in December List the letters (a) through (m) and indicate the amount pertaining to each letter direct labor costs of $16,600. Overhead was applied at a rate that was 75% of direct labor cost. materials $4,400 and direct labor $5,300, plus manufacturing overhead. All jobs, except for Job No. 158, were completed in December job finished that was not sold. It had a cost of $4,400 Raw Materials Inventory Beginning balance Dec. 1 Dec. 31 Requisitions 18,600 31 Purchases 19,880 Dec. Ending balance 8,430 Work in P Inventory Beginning balance ec. Dec. 31 Jobs completed 31 Direct materials 31 Direct labor 31 Overhead 9,300 Dec.

Explanation / Answer

We summarize as below

Raw Material Inventory 1-Dec Beginning Balance (a) 7150 31-Dec Requisitions 18600 31-Dec Purchases 19880 31-Dec Ending Balance 8430 Beginning inventory has been calculated as Ending Balance 8430 + Requisitions 18600 Material Available 27030 - Purchases 19880 = Beginning balance 7150 Answer a = 7150 Work In process Inventory 1-Dec Beginning Balance (b) 38950 31-Dec Direct Material © 18600 31-Dec Jobs completed (f) 60150 31-Dec Direct Labor 9300 31-Dec Overheads (d) 6975 31-Dec Ending Balance (e) 13675 b) Beginning balance of Work In process has been calculated as Amounts incurred on Job 154 & 155 Direct Material 9900 Direct Labor 16600 Overheads 12450 (16600 x 75%) Total - b 38950 c) Direct material used will be same as requisitions issued = 18600 c = 18600 d) Overheads applied will be = 75 % of direct labor cost given as 9300 = 9300 x 75 % = 6975 e) Ending balance of Work In process can be calculated as Amount Incurred on Job 158 Direct Material 4400 Direct Labor 5300 Overheads 3975 (5300 x 75%) Total - e 13675 f) Jobs completed has been calculated as Beginning Balance 38950 + Direct Material 18600 + Direct Labor 9300 + Overheads 6975 - Ending Balance 13675 Jobs Completed 60150

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