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Prepare T-accounts for esch inventory account, Manufacturing Overhead, and Cost of Coods Sold, Post relovant data from your journal entries to these T-accounts (don't forget to enter the beginning batances in your inventery accounts). Note: Do not round intermediate calculations. 4. Prepare an income statement All of the information needed for the income statement is avalable in the journal entries and T. accounts you have prepared Cemplete this question by entering your answers in the tabs below. Piepare journat entries to rocord the transactions for the vear. intermediate calculations. Journal entry worksheet The total cout to mantacture these goods accordiog to their job cant aheot was $220,000. Leat trater debats belore caedes. 4. Prepare an income statement. Ali of the information needed for the income statement is available in the journal entries and Taccounts you have prepared. Complete this question by entering your answers in the tabs below. Prepare journal entries to record the transactions for the year. Noke: it no entry is requited for a transaction/event, soled "No journal entry requlved" in the first account field. Do not round intermediate calculations. Journal entry worksheet ( 1 [... 45618 Goods that had cost $220,000 to manufacture according to their job cost sheets were completed. d. Rent for the year was $18,500 (\$13,800 related to factory operations, and the remainder related to selling and administrative activitles) e. Utility costs incurred in the factory. of goo. i Advertising costs incurred, $12,000. 9. Depreciation on equipment, $25,000 ( $15,000 related to equipment used in foctory operations, the remaining $10,000 related to equipment used in selling and administrative activities). h. Manufacturing overhead cost applied to jobs, $ ? L. Completed goods cost $229,000 to manufacture 1. Sales for the year (all paid in cash) totaled $504,000. The manufacturing cost of these goods was $220,000 Required: 1. Prepare journal entries to recond the transactions for the year 2. Prepare Taccounts for each inventory account, Manufacturing Overhead, and Cost of Goods Sold. Post relevant data from your journal entries to these T-accounts (don't forget to eoter the beginning balances in your inventory accounts) 3A. Is Manufacturing Overhead underapplied or overapplied? 38. Prepare ajournal entry to close Manufactuting Overhead to Cost of Goods Sold 4. Prepare an income statement. All of the information needed for the income statement is avalable in the joumal entries and T. accounts you have prepared. Complete this question by entering your answers in the tabs below. Is Manutacturing Overtead underapalied or overapplied? Prepare an income statement. All of the information needed for the income statement is available in the journal entries and T. accounts you have prepared. Complete this question by entering your answers in the tabs below. Prepare journal entries to record the transactions for the year. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations. Journal entry worksheet Nobe: Enter debots bellore credits. 4. Prepare an income statement, Al of the information needed for the income statement is available in the joumal entries and T. accounts you have prepared Complete this question by entering your answers in the tabs below. Prepare journal entries to record the transactions for the year. Note: If no entry is required for a transaction/event, select "No journaf entry required" in the first account field. Do not round intermedine calcilations. Inurnal entru werkeheet 4 Prepare an income statement. All of the information needed for the income statement is avaifable in the journal entries and T. accounts you have prepared Complete this question by entering your answers in the tabs below. Prepare fournal entries to record the transactions for the year. Note: If no entry is required for a trantaction/event, select "No fournal entry required" in the first account fleld, Do not round intermediate calculations. 38. Prepare a journal entry to close Manufacturing Overhead to Cost of Goods Sold: 4. Prepare an income statement. All of the information needed for the income statement is avalable in the journal entries and T. accounts you have prepared Complete this question by entering your answers in the tabs below. Prepare journal entries to record the transactions for the year. Note: it no entry is required for a transaction/event, select "No journat entry required" in the first account fieldi, Do not round intermediate calculations. Journal entry worksheet Gold Nest Company of Guandong. China, makes birdcages for the South China market. The company sells its birdcages through an extensive network of street vendors who receive commissions on their sales. The company uses a job-order costing system that applies overhead to jobs based on direct labor cost. its predetermined overhead rate is based on a cost formula that estimated $84,000 of manufacturing overhead for an estimated activity level of $40,000 drect labor dollars. The beginning inventory balances were as follows: During the ycar, the following transactions were completed: a. Raw materials purchased on account, $168,000. b. Raw materials used in production, $144,000 (materials costing $126,000 were charged directly to jobs, the remaining materials were indirect). c. Cash paid to employees: d. Rent for the year was $18,500 ( $13,800 related to factory operations, and the remainder related to seling and administrative activities). e. Unitity costs incurred in the foctory, $11,000 indvertising costs incurred, $12,000 9. Depreciation on equipment, $25,000 (\$15,000 related to equipment used in factory operations, the remaining $40,000 related to equipment used in selling and administrative activities h. Manufacturing overhead cost applied to jobs, s ? 1 Completed goods cost $229.000 to manufacture 1. Sales for the year (all paid in cash) fotaled $504,000. The manufacturing cost of these goods was $220,000 Required: 1. Prepare joutnal entries to record the transactions for the ycat. 2. Prepare T-accounts for each inventory account, Manufocturng Ovechead, and Cost of Goods Sold Post relevant data from your foumal entries to these T-iscounts (cont forget to enter the beginning balances in your inventory accounts) 3A. is Manufacturing Overhead underappled or overapplied? 38 Prepare a fournal entry to close Manufacturing Overthead to Cost of Goods sold 4 Prepare an income statement. Al of the information needed for the income staitement is avaliable in the journat entries and I. accounts you have prepared. Prepare an income statement. All of the information needed for the income statement is available in the journal entries and Tccounts you have prepared. Complete this question by entering your answers in the tobs below. Prepare joumal entries to record the transactions for the yoar. Note: if ho entry is required for a transaction/event, select "No foumal entry required" in the first account field. Do not round intermediate calculations. Journal entry worksheet Prepare an income statement. All of the information needed for the income statement is avallable in the joumal entries and T. counts you trave prepared. Complete this question by entering your answers in the tobs below. Prepare journal entries to record the transactions for the year. Note: If no entry is required for a transactionvevent, select "No journal entry required" in the first account field. Do not round intermediate calculations. Journal entry worksheet