2. Record transactions a through j for Phoenix Company.

3. Compute the ending balances for Phoenix Companys balance sheet.

This is the part I need help with! Computing the values that are red

I've included the answers to part 1 I've found if that helps!

Phoenix Company manufactures only one product and uses a standard cost system. The company uses a plantwide predetermined overhead rate that relies on direct labor-hours as the allocation base. The predetermined overhead rate is based on a cost formula that estimated $2,894.400 of fixed and variable manufacturing overhead for an estimated allocation base of 241,200 direct labor- hours. Phoenix does not maintain any beginning or ending work in process inventory. The company's beginning balance sheet is as follows: Phoenix Company Balance Sheet 1/1/Xx (dollars in thousands) Assets Cash Raw materials inventory Finished goods inventory All other assets Total assets Liabilities and Equity Retained earnings Total liabilities and equity $ 3,100 420 780 14,400 $ 18,700 $ 18,700 $ 18,700 The company's standard cost card for its only product is as follows: (2) Inputs Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total standard cost per unit (1) Standard Standard Quantity or (2) Standard Price or Cost (1) * Hours Rate 3 pounds $ 31.00 per pound $ 93.00 2.00 hours $ 16.00 per hour 32.00 2.00 hours $ 2.00 per hour 2.00 hours $ 10.00 per hour 20.00 $ 149.00 During the year Phoenix completed the following transactions: a. Purchased (with cash) 466,000 pounds of raw material at a price of 532.50 per pound. b. Added 434,800 pounds of raw material to work in process to produce 127,400 units. C. Assigned direct labor costs to work in process. The direct laborers (who were paid in cash) worked 267,400 hours at an average cost of $15.00 per hour to manufacture 127,400 units. d. Applied variable manufacturing overhead to work in process inventory using the variable portion of the predetermined overhead rate multiplied by the number of direct labor-hours allowed to manufacture 127,400 units. Actual variable manufacturing overhead costs for the year (all paid in cash) were $482,400. e. Applied fixed manufacturing overhead to work in process inventory using the fixed portion of the predetermined overhead rate multiplied by the number of direct labor-hours allowed to manufacture 127,400 units. Actual fixed manufacturing overhead costs for the year were $2.456,000. Of this total $1,312,000 related to items such as insurance, utilities, and salaried indirect laborers that were all paid in cash and $1,144,000 related to depreciation of equipment. e. Applied fixed manufacturing overhead to work in process inventory using the fixed portion of the predetermined overhead rate multiplied by the number of direct labor-hours allowed to manufacture 127,400 units. Actual fixed manufacturing overhead costs for the year were $2,456,000. Of this total, $1,312,000 related to items such as insurance, utilities, and salaried indirect laborers that were all paid in cash and $1,144,000 related to depreciation of equipment. f. Transferred 127,400 units from work in process to finished goods. 9. Sold (for cash) 124,200 units to customers at a price of $175 per unit. h. Transferred the standard cost associated with the 124.200 units sold from finished goods to cost of goods sold. i. Paid $900,000 of selling and administrative expenses. j. Closed all standard cost variances to cost of goods sold. Required: 1. Compute all direct materials, direct labor, variable overhead, and fixed overhead variances for the year. 2. Record transactions a through for Phoenix Company. 3. Compute the ending balances for Phoenix Company's balance sheet. 4. Prepare Phoenix Company's income statement for the year. Required: 1. Compute all direct materials, direct labor, variable overhead, and fixed overhead variances for the year. 2. Record transactions a through for Phoenix Company. 3. Compute the ending balances for Phoenix Company's balance sheet. 4. Prepare Phoenix Company's income statement for the year. Answer is complete but not entirely correct Complete this question by entering your answers in the tabs below. Reg 1 1 Reg 2 and Reg 4 Record transactions a through for Phoenix Company Compute the ending balances for Phoenix Company's balance sheet. (Unfavorable variances and decreases in balance sheet accounts should be entered with a minus sign. Enter your dollars in thousands rounded to the nearest thousand.) Date Event Cash Raw Materials Work in Process Finished Goods PP&Ener Is 7802 18.700 111 a b. c. 001 0 2,100 (15,145) 0 (4,011) (482) 11,312) 0 00 420 4203 0 0 0 0 0 0 0 0 0 0 0 OS 14,400- 0- 00 - - 00 11,144)- - Phoenix Company Transaction Analysis For the Year Ended 12/31/XX (dollars in thousands Materials Fixed Material Variable Variable Fixed Labor Price Overhead Labor Rate Overhead Overhead Overhead Retained Quantity Price Efficiency Variance Rate Efficiency Budget Volume Earnings Variance Variance Variance Variance Variance Variance Variance os OS os os os os (699) 0 og 0 OS 0 00 0 o 11.631) o ool ol OS 0 09 0 267 202) OS 0 0 ool 0 53 (25) 0 09 0 ol o 0 o (44) 136 0 0 0 ool ool 0 0 0 o 0 0 0 21.735 0 0 ol ool og 0 0 (18,506) 0 ol ol 0 0 0 (900) 090 1,631 (267) 202 (53) 250l 44 (136) 12,145) s os OS os OS OS OS OS OS 18,884 os 001 00 0 00 0 % (18,983) 0 0 0 0 d. . 21.735 9 0 0 18,903 0 (18.505) 0 0 1.257 h. i. 0 (900) 0 2.995 0- 01- 0 12,256 s 12/31 Reg4 Required: 1. Compute all direct materials, direct labor, variable overhead, and fixed overhead variances for the year. 2. Record transactions a through j for Phoenix Company. 3. Compute the ending balances for Phoenix Company's balance sheet. 4. Prepare Phoenix Company's income statement for the year. Answer is not complete. Complete this question by entering your answers in the tabs below. Reg! Reg 2 and 3 Reg 4 Compute all direct materials, direct labor, variable overhead, and fixed overhead variances for the year. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Round intermediate calculations to two decimal places.) U U F U Materials price variance Materials quantity variance Labor rate variance Labor efficiency variance Variable overhead rate variance Vanable overhead efficiency variance Budget variance Volume variance s 699,000 $ 1,630,600 IS 267,400 IS 201,600 $ 53,480 s 25,200 $ 44,000 IS 136,000 F OOO U F Red Reg 2 and 3 >