Business, 15.02.2021 20:10 Kana81

Watkins Machinery Company uses a normal job costing system. The company has the following partial trial balance information for March, the last month of its fiscal year: Materials inventory (X, $6,000; Y, $4,000; Indirect materials, $10,000) $20,000
Work-in-process inventory (this is Job 101) 10,800
Finished goods inventory (this is Job 100) 18,000

These transactions relate to the month of March:

a. Purchased direct materials and indirect materials with the following summary of receiving reports:

Material X $10,000
Material Y $10,000
Indirect materials 5,000
Total 25,000

b. Issued direct materials and indirect materials with this summary of requisitions:

Job 101 Job 102 Total
Material X $5,000 $3,000 $8,000
Material Y 4,000 3,000 7,000
Subtotal $9,000 $6,000 $15,000
Indirect materials 8,000
Total $23,000

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