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1139
Problem 19-1B (Concluded)
Problem 19-2B (75 minutes)
Part 1
a.
Dec. 31
Work in Process Inventory ................................
12,200
Raw Materials Inventory ................................
12,200
1140
Problem 19-2B (Continued)
Part 2
Revised Factory Overhead account
Ending balance from trial balance .........................................
$27,000
Debit
Dec. 31
Cost of Goods Sold ........................................................
6,100
Part 3
CAVALLO MFG.
Trial Balance
December 31, 2017
Debit
Credit
Cash ...............................................................................
$ 64,000
1141
Problem 19-2B (Continued)
Part 3 (Concluded)
* Raw materials inventory
Balance per trial balance ................................................................
$26,000
Part 4
CAVALLO MFG.
Income Statement
For Year Ended December 31, 2017
Sales ......................................................................................
$ 180,000
1142
Problem 19-2B (Concluded)
Part 4 (Concluded)
CAVALLO MFG.
Balance Sheet
December 31, 2017
Assets
Cash ................................................................
$ 64,000
Accounts receivable ............................................
42,000
Inventories
Part 5
The $2,100 error would cause the costs for Job 604 to be understated.
Since Job 604 is in process at the end of the period, work in process
Problem 19-3B (70 minutes)
Part 1
JOB COST SHEETS
Job No. 487
Materials ........................
$30,000
1144
Problem 19-3B (Concluded)
Part 2
a.
Raw Materials Inventory ................................................
125,000
1145
Problem 19-3B (Continued)
[continued from prior page]
g.
Accounts Receivable .....................................................
340,000
Problem 19-3B (Continued)
Part 3
GENERAL LEDGER ACCOUNTS
Raw Materials Inventory
(a)
125,000
(b)
92,000
Part 4
Reports of Job Costs*
Work in Process Inventory
Job 488 .........................................
$ 41,000
Job 491 .........................................
10,000
1147
Problem 19-4B (35 minutes)
Part 1
a. Predetermined overhead rate
b. Overhead costs charged to jobs
Direct
Applied
Job No.
Labor
Overhead (50%)
625 ................................................................
$ 354,000
$177,000
c. Overapplied or underapplied overhead determination
Part 2
Problem 19-5B (90 minutes)
JOB COST SHEET
Customer's Name
Encinita Company
Job No.
450
Direct Materials
Direct Labor
Overhead Costs Applied
Date
Requisition
Number
Amount
Time
Ticket
Number
Amount
Date
Rate
Amount
JOB COST SHEET
Customer's Name
Fargo, Inc.
Job No.
451
Direct Materials
Direct Labor
Overhead Costs Applied
Date
Requisition
Number
Amount
Time
Ticket
Number
Amount
Date
Rate
Amount
1149
Problem 19-5B (Continued)
MATERIALS LEDGER CARD
Item
Material M
Received
Issued
Balance
Date
Receiving
Report
Units
Unit
Price
Total
Price
Requi-
sition
Units
Unit
Price
Total
Price
Units
Unit
Price
Total
Price
MATERIALS LEDGER CARD
Item
Material R
Received
Issued
Balance
Date
Receiving
Report
Units
Unit
Price
Total
Price
Requi-
sition
Units
Unit
Price
Total
Price
Units
Unit
Price
Total
Price
MATERIALS LEDGER CARD
Item
Paint
Received
Issued
Balance
Date
Receiving
Report
Units
Unit
Price
Total
Price
Requi-
sition
Units
Unit
Price
Total
Price
Units
Unit
Price
Total
Price
