2J21t13 t--x a Assig t'rTerrt Print View 1I E;<ercise 15-9 Journal entries for labar L.O. P2 The fulowing infurmation is arailable for Lock-Down Company, whic,h produces special-order security products and uses a job order cost accounting system. rn\,entories A'ril i;o MaY 31 Rawmaterials $41,030 $ 47,000 Goods in process 10,7r:)0 22,000 Finished goods 59,0r:)0 30,600 ActiVties and information for May Raw materials purchases (paid with cash) 190,000 Factory payroll (paid with cash) 415,000 Factory or,erhead lndirect materials 12,000 lndirect labor 75,000 Other o\Erhead costs 103,500 Sales (receired in cash) 1,270,000 Predetermined overhead rate based_on direct laborcost 65% l. Factory payroll costs in cash. 2. Direct labor usage. 3, lndjrecl labor usage. Prepare joumal entries for the abo\,e e\,ents for the month of May. {Omit ilhe "$" sign in your response.} E\,ents General Joumal - Debit Credit & 1. Lrt 41g,000 ffi/- 41s,ooo,/ 2. ,./ , ffi,2 3. /' ffiu' Vbw l-rnt#l W*rksfreet ffxsrs:lse f 5-S Jo*rn*f sr?friss for fafo *{ L.0. F2 2, Exercise 15-4 Analysis of cost flortvs L.O. C2, P1 , P2, P3 As ofthe end of June, the job cost sheets at Racing Wheels, lnc,, show the following total costs accumulated on three custom jobs. Job 102 Job 103 Job 1D4 Direct materials $ 31,000 $ 65,000 $ 49,000 Direct labor 14,000 25,400 45,000 Orcrhead 6,580 11,938 21,'150 Job 1O2 was started in production in May and the following costs were assigned to it in May: direct materials, $11,000; direct labor, $3,300; and ovrefiead, $1,551. Jobs 103 and 1M are started in June. O\,erhead cost is applied with a predetermined late based on direct larbor cost. Jobs 1O2 and 1OB are fnished in June, and Job 104 is expected to be finished in July. No rar,y materials are used indirectly in June. Using this information, ansu/er the ficllot'ving questions. {Assum,: this company's predetermined o\,erhead rate did not change across these months). 1. What is the cost of the raw materials requisitioned in June foreach r:f the three jobs? {Omit the ..$', sign in your response.) ezto.nhecloud.nrcg rarhill.con/trm.tpx 1t12 2J21t13 Assi g rrrrent Print Viar Job 102 $ Job 103 $ Job 104 $ 2. How much direct labor cost is incuned during June for each of the three jobs? (Omit the "S.' sign in your response") J&1O2 $ Job 103 $ Job 1O4 $ 3. what predetermined or,erhead rate is used during June? {omit the "g1," sign in your response.) Predetermined o\erhead rate % 4. How much total cost is transfuned to finished goods during Junre? {Omit the ',$* sign in your response.) Total transfened cost $ View Hnt#1 Sforksh*et frxer*is* 1 5-4 '4nalysis of c*sf ff*ut* L"#. C2, Ft r P2, I r .." .,...*- 4 ,' '1. -:' e g4 t rJ r.) ., _ ,- &n' Ir. 'v: tc- Vv cJl lciiJ.-rt : . , - - lrt .:*r,, .' 3. €xercr.se 1545 Arnrhead rate calculation, allocation, and anat' is L.0. ps Red Wing Company applies factory or,erhead based on direct labor (:osts- The company incuned the f.