=Woods Custom Furniture Manufacturing worked on a single job order during the entire month of August. It started the job at the beginning of the month and completed and sold the job at the end of the month. The following related events occurred during the month:

(1) Woods made a credit purchase of $18,000 of raw materials. (2) Woods issued $15,200 of direct materials and $450 of indirect materials into pro- duction.

(3) Woods’ employees worked 995 direct labor hours at $10.00 per hour. Indirect labor cost Woods $1,700.

(4) The factory returned $110 of direct materials to the storeroom.

(5) Woods’ factory overhead, other than indirect labor and materials, amounted to

$23,650 as follows:

Depreciation on factory and equipment .......ssssssssssssessseessssessesesessessseseersesssssssssssess $13,500 Insurance (previously paid in advance)......ssssssssssessssssssssseessssssssssssssssssssesserssssssesees 2,200 Property taxes (to be paid in December) .......csssssssssssssesssssssssesssssssseesesssssssceessanssees 1,600 Other factory overhead (all cash payments) ...scccssssssssssssssssssessssssssseecessssscessenssssess 6,350 pl cobas| Reece rcerouee reat ce nce ae desasto onscepe ta sceaea ges cretsristt Bsa eras tedsiitie td $23,650

(6) Woods applied factory overhead at a predetermined overhead rate of $30 per di- rect labor hour.

(7) Woods completed the job order and transferred it to finished goods inventory.

(8) Woods sold the job order for $105,000 on credit.

Required: Using T-accounts, show the effect of each of these events on Woods’ accounts. TLK=2