Analyzing Manufacturing Cost Accounts

Jagger and Richards Company manufactures custom guitars in a wide variety of styles. The following incomplete ledger accounts refer to transactions that are summarized for October:

In addition, the following information is available:

1. Materials and direct labor were applied to six jobs in October:
   
2. Factory overhead is applied to each job at a rate of 60% of direct labor cost.
3. The October Work in Process balance consisted of two jobs, as follows:
   
4. Customer jobs completed and units sold in October were as follows:
   

Instructions:

1. Determine the missing amounts associated with each letter by completing the table below. If an amount is zero, enter in "0". Enter all amounts as positive numbers.

Job No.	Style	Quan- tity	Oct. 1 Work in Process	Direct Materials	Direct Labor	Factory Overhead	Total Cost	Unit Cost	Units Sold	Cost of Goods Sold
No. 101	X-1	150	$	$37,500	$27,000	$	$	$	Â	$
No. 102	X-3	175	Â	48,000	33,000	Â	Â	Â	Â	Â
No. 103	X-2	225	Â	60,000	50,000	Â	Â	Â	Â	Â
No. 104	S-1	175	Â	30,000	18,000	Â	Â	Â	Â	Â
No. 105	S-2	300	Â	54,000	30,000	Â	Â	Â	Â	Â
No. 106	X-4	150	Â	30,000	14,000	Â	Â	Â	Â	Â
Total	Â	1,175	$	$259,500	$172,000	$	$	Â	Â	$

a. $

b. $

c. $

d. $

e. $

f. $

g. $

h. $

2. Determine the October 31 balances for each of the inventory accounts and factory overhead.

Materials:	$
Work in Process:	$
Finished Goods:	$
Factory Overhead:	$