Clayton StateCompany begins operations on September 1^st2013. Information from jobcosting sheets shows the following:

Manufacturing Costs Assigned

Job #SeptOctoberNovemberMonth Completed

101$10,400$8,800October

1028,20078004000November

1032,400September

1049,4009,000November

10511,8007,200Not Completed

Each job was sold for 125% above its cost in the month following completion.

Required:

What is the balance in Work in Process Inventory at the end of each month

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Question 2(12.5 points)

Morrowcorporation incurred the following cost while manufacturing its product: Factor Supplies used$ 46,000 Labor Costs of assembly-line workers$ 220,000 Property Taxes on store$ 15,000 Depreciation on plant$ 120,000 Sales Commissions$ 70,000 Salaries paid to sales clerks$ 100,000 Material used in product$ 240,000 Advertising expense$ 90,000 Property taxes on plant$ 28,000 Delivery expense$ 42,000 Beginning work in process$ 24,000 Ending Work in Process$ 31,000 Beginning Finished Goods$ 120,000 Ending Finished Goods$ 91,200 Required:

Prepare statement of Cost of Goods Manufactured

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Question 3(12.5 points)

A department adds raw materials to a process at the beginning of the process and incurs conversion costs uniformly throughout the process. For the month of January, there were no units in the beginning work in process inventory; 80,000 units were started into production in January; and there were 20,000 units that were 40% complete in the ending work in process inventory at the end of January. What were the equivalent units of production for materials for the month of January? Show all your calculations (giving only answer figure will have zero, I want to see your step by step calculation)

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Question 4(12.5 points)

Clayton Corporation had the following transactions during 2014: 1.Issued $125,000 of par value common stock for cash. 2.Recorded and paid wages expense of $60,000. 3.Acquired land by issuing common stock of par value $50,000. 4.Declared and paid a cash dividend of $10,000. 5.Sold a long-term investment (cost $3,000) for cash of $3,000. 6.Recorded cash sales of $400,000. 7.Bought inventory for cash of $160,000. 8.Acquired an investment in suficient stock for cash of $21,000. 9.Converted bonds payable to common stock in the amount of $500,000. 10.Repaid a 6 year note payable in the amount of $220,000.

Prepare Statement of Cash flow fromoperating activities.Show this part of the statement in good format. Simple final figure will not be sufficient.

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