Carmen Company is a manufacturer that completed numerous transactions during the month, some of which are shown below:
a. Raw materials used in production as direct materials, $56,000.
b. Paid direct laborers $40,000 in cash for their work on various jobs during the month.
c. Applied $35,000 of manufacturing overhead to production during the month.
d. Various jobs costing a total of $110,000 were completed during the month and transferred to Finished Goods.
e. Various completed jobs costing a total of $90,000 were sold to customers.
f. Cash sales for the month totaled $160,000.
g. Selling and administrative expenses paid in cash, $18,000.
Required:
The table shown below includes a subset of Carmen Company's balance sheet accounts. Record each of the above transactions using the accounts that are given. If a transaction increases an account balance, then record the amount as a positive number. If it decreases an account balance, then record the amount in parentheses.

Transcribed Image Text:

Raw Work in Finished Manufacturing Retained Earnings Transaction Cash Materials Process Goods Overhead d. g.