Following is the statement of cost of goods manufactured for Carson Manufacturing Company.

Required
1. Journalize, using page 116 of the general journal, the adjusting entries for Raw Materials Inventory and Work- in- Process Inventory.
2. Journalize the closing entries for manufacturing costs.
3. Post the entries to the Manufacturing Summary account, No. 511.
4. Journalize and post the entry to close the Manufacturing Summaryaccount.

Transcribed Image Text:

Carson Manufacturing Company Statement of Cost of Goods Manufactured ForYear Ended June 30, 20-- Work-in-Process Inventory, July 1,20- Raw Materials: 87000 Raw Materials Inventory, July 1,20- Raw Materials Purchases (net) Cost of Raw Materials Available for Use Lees Raw Materials inventory, June 30,20- Cost of Raw Matorials Used $155,500 215,275 $370,775 153,000 $217775 325,200 Direct Labor Manufacturing Overhead: Indirect Labor Supervisory Salaries Depreciation Expense, Factory Equipment Depreciation Expense, Factory Building Heat, Light, and Power Repairs and Maintenance Factory Supplios Used Factory Insurance Expired Property Tax on Factory Building Miscellaneous Factory Costs Total Manufacturing Ovethead 57250 42,755 54,500 12,080 11,325 7575 7,154 3,870 4,251 3,590 204,350 Total Manufacturing Costs Total Cost of Work-in-Process During Period Less Work-in-Process Inventory, June 30, 20- Cost of Goods Manufactured 747325 $834 325 87525 $746,800