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Apps YouTube Q Maps News M Gmail zoon.us C My Devices | Che. Settings - Security Acct 1090 - Prof. Edwards - Late Start Fall 2020 Rawa Jakkou & | 10/20/20 12:01 PM Homework: Week Three: Homework Mastery Problem Chapter 2 (ma Save Score: 0 of 8 pts 1 of 1 (0 complete) 4 HW Score: 0%, 0 of 8 pts More Info Requirements - X Raw Materials Inventory subsidiary ledger: Paper, $4,700; indirect materials, $1,200 Work-in-Process Inventory subsidiary ledger: Job 120, $39,400; Job 121, SO 1. Journalize the transactions for the company. Finished Goods Inventory subsidiary ledger: Large Stars, $9,400; Small Stars, $11,300 2. T-accounts for the general ledger, the Raw Materials Inventory subsidiary Data Table ledger, the Work-in-Process Inventory subsidiary ledger, and the Finished Goods Inventory subsidiary ledger have been opened for you along with each account's balance as given. Post the journal entries to the T-accounts using Cash the transaction letters as a reference. 16,000 Print Done 3. Prepare a trial balance at June 30, 2024. Accounts Receivable 185,000 More Info 4. Use the Work-in-Process Inventory T-account to prepare a schedule of cost nventories: of goods manufactured for the month of June. 5. Prepare an income statement for the month of June. Raw Materials 5,900 Work-in-Process 39,400 a. Collections on account, $140,000. Finished Goods 20,700 b. Selling and administrative expenses incurred and paid, $33,000. Print Done c. Payments on account, $40,000. Property, Plant, and Equipment 290,000 d. Materials purchased on account: Paper, $21,600; indirect materials, $4,800. Accumulated Depreciation 73,000 e. Materials requisitioned and used in production: Accounts Payable 127,000 Job 120: Paper, 650 Wages Payable 1,500 Job 121: Paper, 7,550 Common Stock 144,000 Indirect materials, 1,800 Retained Earnings 211,500 f. Wages incurred during June, $35,000. Labor time records for the month: Job 120, $3,250; Job 121, $18,500; indirect labor, $13,250. Sales Revenue g. Wages paid in June include the balance in the Wages Payable at May 31 plus $33,700 of wages incurred during Cost of Goods Sold June. h. Depreciation on plant and equipment, $2,800. Manufacturing Overhead i. Manufacturing overhead allocated at the predetermined overhead allocation rate of 80% of direct labor costs. O O j. Jobs completed during the month: Job 120 with 300,000 Large Stars at a total cost of $45,900. Selling and Administrative Expenses k. Sales on account: all of Job 120 for $100,000. 1. Adjusted for overallocated or underallocated manufacturing overhead . Total 557,000 $ 557,000 All Print Done MacBook Pro