Here is the statement of cost of goods manufactured for the P.O. 2 Epler Manufacturing Company:

Instructions 1. Journalize the adjusting entries for the Raw Materials Inventory and the Work-in-Process Inventory.
2. Journalize the closing entries for manufacturing costs.
3. Post the entries to the Manufacturing Summary account.
4. Journalize and post the entry to close the Manufacturing Summary account.

Transcribed Image Text:

Epler Manufacturing Company Statement of Cost of Goods Manufactured For Year Ended June 30, 19- Work-in-Process Inventory, July 1 Raw Materials: Raw Materials Inventory, July 1 Raw Materials Purchases (net) Cost of Raw Materials Available for Use Less Raw Materials Inventory, June 30 Cost of Raw Materials Used Direct Labor Factory Overhead: Indirect Labor Supervisory Salaries Depreciation Expense, Factory Equipment Depreciation Expense, Factory Building Heat, Light, and Power Repairs and Maintenance Factory Supplies Used Factory Insurance Expired Property Tax on Factory Building Miscellaneous Factory Costs Total Factory Overhead Total Manufacturing Costs Total Cost of Work-in-Process During Period Less Work-in-Process Inventory, June 30 Cost of Goods Manufactured $13600000 19750000 $33350000 13000000 $ 5420000 3805000 3600000 1090000 $20350000] 29100000 $ 8000000 930000 720000 695000 380000 375000 355000 17370000 66820000 $74820000 8750000 $66070000