1. Calculate the amount of materials purchased this year and record the corresponding J/E (journal entry).
2. Calculate the total current manufacturing costs for the year.
3. Calculate the cost of goods manufactured (COGM) this year and record the corresponding J/E.
4. Calculate the unadjusted cost of goods sold (COGS) for the year.
5. Calculate the adjusted cost of goods sold (COGS) for the year, and record the corresponding adjusting J/E. Assuming we close the entire MOH difference to COGS.
6. Assume Weber Cos sales to customers this year totaled $81,000. Also, Weber Cos period costs for the year totaled $8,000. Create a simple, traditional format income statement for Weber Co. for the year, stopping at Operating Profit.

Use the following info. for Weber Company, which has a calendar year fiscal year (Jan. 1st to Dec. 3154). Balance as of Balance as of Account Jan. 1st Dec. 31st RM Inv. $85,000 $60,000 WIP Inv. $20,000 $30,000 FG Inv. $49,000 $63,000 Materials started into production $65,000, of which $10,000 are indirect materials during the year DL cost incurred during the year $20,000 MOH Applied/Allocated $15,000 during the year In addition to indirect materials, other actual MOH costs totaled $8,000 this year