Financial and Managerial Accounting: P17-4A Dupont Fishing Equipment Company manufactures fishing

Financial and Managerial Accounting 
PROBLEM 17-4A Analyzing manufacturing cost accounts 
Dupont Fishing Equipment Company manufactures fishing rods in a wide variety of lengths and weights. The following incomplete ledger accounts refer to transactions that are summarized for November: 
Materials 
Nov 1. Balance 10,000 Nov 30. Requisitions A 
Nov 30. Purchases 120,000 

Work in Process 
Nov 1. Balance B Nov 30. Completed jobs F 
Nov 30. Materials C 
Nov 30. Direct labor D 
Nov 30. Factory overhead applied E 

Finished Goods 
Nov 1. Balance - Nov 30. Cost of goods sold G 
Nov 30. Completed jobs F 

Wages Payable 
Nov 30. Wages incurred 130,000 

Factory Overhead 
Nov 1. Balance 2,500 Nov 30. Requisitions E 
Nov 30. Indirect labor H 
Nov 30. Indirect materials 3,000 
Nov 30. Other overhead 60,000 

In addition, the following information is available: 
a. Materials and direct labor were applied to six jobs in November: 
Job No. Style Qty. Direct Materials Direct labor 
No. 111 DL-8 70 15,000 12,000 
No. 112 DL-18 100 23,000 18,000 
No. 113 DL-11 120 27,500 25,000 
No. 114 SL-101 100 11,000 12,500 
No. 115 SL-110 175 28,000 27,500 
No. 116 DL-14 80 15,000 14,500 
Total 645 $119,500 $109,500 
b. Factory overhead is applied to each job at a rate of 75% of direct labor cost. 
c. The November 1 Work in Process balance consisted of two jobs, as follows:
Job No. Style Work in Process, Nov 1 
No. 111 DL-8 20,000 
No. 112 DL-18 30,000 
$50,000 
d. Customer jobs completed and units sold in November were as follows:
Job No. Style Completed in November Units Sold in Nov. 
No. 111 DL-8 x 60 
No. 112 DL-18 x 100 
No. 113 DL-11 x 80 
No. 114 SL-101 - 
No. 115 SL-110 x 150 
No. 116 DL-14 - 

Instructions: 
1. Determine the missing amounts associated with each letter. Provide supporting calculations by completing a table with the following headings: (Round unit cost to nearest cent. Round Cost of Goods Sold to nearest dollar.) 
2. Determine the November 30 balances for each of the inventory accounts and factory overhead.
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