\begin{tabular}{|c|c|} \hline & \begin{tabular}{l} HAWK ELECTRONICS \\ LIST OF TRANSACTIONS \end{tabular} \\ \hline & \begin{tabular}{l|l} & FOR MONTH OF JANUAR \\ \end{tabular} \\ \hline (a) & \begin{tabular}{|l|l|} (a) & Direct materials purchased on account amounted to $67,200. \\ (b) & Direct materials requisitioned into production were as follows: Job No. 105, \$6,000; Job No. 106, \\ $25,600; Job No. 107, \$40,700. Indirect materials requisitioned into production amounted to \\ $5,300 \end{tabular} \\ \hline & \begin{tabular}{l} c) $ Direct labor wages incurred during the month of January consisted of the following: Job No. 105 , \\ $3,840; Job No. 106, $18,600; Job No. 107, $17,250. Indirect labor amounted to $12,300 for \\ January. Marketing and administrative salaries totaled $20,400 during the month. \end{tabular} \\ \hline & \begin{tabular}{l} January. Marketing and administrative salaries totaled $20,400 during the month. \\ Actual manufacturing overhead incurred and paid in cash in addition to any other items discussed \\ in other transactions during the month amounted to $28,600. Depreciation recorded on the \\ manufacturing property, plant, and equipment totaled $6,500 for the month. \end{tabular} \\ \hline & \begin{tabular}{l} manufacturing property, plant, and equipment totaled $6,500 for the month. \\ Manufacturing overhead is applied to production using a predetermined rate of 130% of direct labor \end{tabular} \\ \hline(f) & \begin{tabular}{l} Job No. 105 and Job No. 107 were both completed during the month and transferred from \\ production to completed goods. The jobs that made up the balance of finished goods at the \\ beginning of January were sold for a price of $100,000. In addition, Job No. 107 was sold durin \\ January for a price of $105,000. Of the work in process at the beginning of the month, all of th \\ costs were for Job No. 105 . \end{tabular} \\ \hline(g) & \begin{tabular}{l} Marketing and administrative expenses incurred during the month in addition to the \\ costs were for Job No. 105 . \end{tabular} \\ \hline \end{tabular} Problem 2 (30 points). Hawk Electronics manufactures parts used by electric utilities for power generation. The company sells these parts to public utilities for repairs and new plant construction. The company's trial batance at January 1,208 is attached. The balance in the Work in Process account on January 1 consisted of only one job, Job No. 105. During the month of January 208, the attached transactions took place. REQUIRED: (1) Using the attached forms, open T accounts for the following general ledger accounts and post the beginning balances (if any) to the accounts. Direct Materials Inventory Work in Process Inventory Cost of Goods Sold Finished Goods Inventory Manufacturing Overhead Control Using the attached forms, post the appropriate entries from (a) through (g) attached to the T accounts listed above. Record only those amounts from the entries that pertain to the T accounts listed. Using the attached answer sheet, calculate the following amounts as of January 31,208. (a) Direct Materials Inventory balance. (b) Work in Process Inventory balance. (c) Finished Goods Inventory balance. (d) Over- or underapplied manufacturing overhead. (e) Cost of Goods Sold. \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|l|}{\begin{tabular}{c} HAWK ELECTRONICS \\ TRIAL BALANCE \\ AT JANUARY 1, 20X8 \\ \end{tabular}} \\ \hline & Debits & Credits \\ \hline Cash & 32,000 & \\ \hline Accounts Receivable & 66,000 & \\ \hline Inventories: & & \\ \hline Direct Materials & 19,500 & \\ \hline Work in Process & 44,500 & \\ \hline Finished Goods & 80,000 & \\ \hline Property, Plant, and Equipment & 345,000 & \\ \hline Accumulated Depreciation--Property, Plant, and Equipment & & 146,000 \\ \hline Accounts Payable & & 90,000 \\ \hline Wages Payable & & 6,500 \\ \hline Common Stock & & 225,000 \\ \hline Retained Earnings & & 119,500 \\ \hline Totals & 587,000 & 587,000 \\ \hline \end{tabular} \begin{tabular}{|l|l|c|} \hline (3) & \multicolumn{2}{|c}{ HAWK ELECTRONICS } \\ \multicolumn{2}{|c}{\begin{tabular}{c} CALCULATION OF VARIOUS AMOUNTS \\ AT JANUARY 31, 20X8 \end{tabular}} \\ \hline & (a) \\ \hline (b) & \\ \hline (c) & \\ \hline & (d) & \\ \hline & (e) & \\ \hline \end{tabular}