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Reyes Manufacturing Company uses a job order cost system. At the beginning of January, the company had one job in process (Job 201) and one job completed but not yet sold 200). Job 202 was started during January. Other select account balances follow (ignore any accounts that are not listed). During January, the company had the following transactions: (a) Purchased $69,000 worth of materials on account. (b) Recorded materials issued to production as follows: Job Number 201 202 Total Com $ 10.100 21,200 6.300 $ 37,600 Indirect materials (c) Recorded factory payroll costs from direct labor time tickets that revealed the following: Job Number HOU 118 396 202 Total Cost $ 2.100 10,100 4,300 $ 16 500 Factory supervision (d) Agolled overhead to production at a rate of $28.00 per direct labor hour for 514 actual direct labor hours (e) Recorded the following actual manufacturing overhead costs Factory rent Depreciation Factory utilities Factory insurance Total Cost $ 3.000 4.700 3,100 2500 $13,300 Description Paid in cash Factory equipment incurred but not paid Prepaid policy in Completed Job 201 and transferred it to Finished Goods Inventory (9) Sold Job 200 for $50.500 Job 202 was still in process at the end of January Required: 1. Post the preceding transactions to T-accounts. (Note: Capture the offsetting of debits and credits to other accounts such as Cash, Payables. Accumulated Depreciation, and so on in Miscelaneous Accounts.) Raw Materials Inventory 41.000 69,000 Work in Process Inventory 1 ,5001 1 1/ a) b) 31/4 75,200 314 Cost of Goods Sold Finished Goods Inventory 27,000 1/1 Manufacturing Overhead Sales Revenue 311 Miscellaneo u s Pavables o 2. Compute the ending balance in the following accounts: a b. C d e Raw Materials Inventory Work in Process Inventory Finished Goods Inventory Cost of Goods Sold (unadjusted) Manufacturing Overhead 3. Compute the total cost of Jobs 201 and 202 at the end of January Job Total Cost of Job Number 201 202

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