Bryan Manufacturing

Bryan Manufacturing begins operations on March 1. Information from job cost sheets shows the following:

                                                         Manufacturing Costs Assigned (non-cumulative)

           Job                                            March                     April                         May           

            A                                             $11,500

            B                                             $  5,200                   $7,300

            C                                            $  3,400                   $5,800                   $4,200

            D                                                                            $7,100                   $8,000

            E                                                                                                           $3,400

Job A was completed in March. Job B was completed in April. Job C was completed in May. Each job was sold in the month following completion.

Instructions: Determine the following amounts:

1.   Work in process inventory, March 31                  $_______________

2.   Finished goods inventory, March 31                    $_______________

3.   Work in process inventory, April 30                      $_______________

4.   Finished goods inventory, April 30                        $_______________

5.   Work in process inventory, May 31                      $_______________

6.   Finished goods inventory, May 31                        $_______________

The ledger accounts of Larken Company are presented below, with an identification number for each.

Instructions: Prepare appropriate job order cost system entries to record the data/events given below. Place the appropriate identification number(s) in the debit and credit columns provided and the dollar amount in the adjoining column.

      1.   Cash                                                  9.    Accumulated Depreciation

      2.   Accounts Receivable                      10.    Sales

      3.   Raw Materials Inventory                 11.    Depreciation Expense

      4.   Work in Process Inventory             12.    Factory Labor

      5.   Finished Goods Inventory               13.    Wages Expense

      6.   Manufacturing Overhead               14.    Cost of Goods Sold

      7.   Accounts Payable                           15.    Other Accounts

      8.   Factory Wages Payable

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                                                                                                Account(s)     Account(s)      Dollar

         Entry Information                                                              Debited         Credited       Amount

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   1.    Purchased raw materials on account $270,000

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   2.    Incurred factory labor—$100,000

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   3.    Charged direct labor to job 152—$90,000

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   4.    Charged direct materials to job 152—$55,000

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   5.    Incurred manufacturing overhead on account—$65,000

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   6.    Recorded the remaining factory labor as indirect labor

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   7.    Recognized depreciation on factory equipment—$25,000

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   8.    Charged overhead to job 152 at 150% of direct labor cost

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   9.    Recorded completion of job 152

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10.    Recorded cost of sales for job 152

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11.    Recorded revenue from sale of job 152 on account— $400,000

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12.    Assume total actual overhead was $2,260,000 and total applied overhead was $2,280,000 for the year. Record the entry to close the manufacturing overhead account.