Create t charts, create job cost sheets for each job, create cost of goods manufacturing schedule. please.

Background Information:

In 2020, Sammy Bearkat opened a bicycle manufacturing business named Bearkat Bicycles. Sammy Bearkat, the sole stockholder, invested $50,000 for 10,000 shares of common stock in December. The company currently manufactures and sells racing bicycles for $2,500 to customers in Huntsville, Texas and its surrounding areas. His business has become so successful that Sammy can no longer build the bicycles out of his garage; thus, he has decided to expand his business. To meet demand, he has hired eight employees including a production supervisor, a salesperson, and an administrative assistant. The company has just signed a one-year lease with a local broker for downtown retail space. The company has one order (Job 14) that was started on December 15, 2020 for 3 racing bicycles that are still in process but will be completed in the next month. Bearkat Bicycles uses a manual accounting system and a chart of accounts has been provided.They've received four new orders for racingbicycles, which Bearkat will assign into four jobs as follows:

Job 15: 6 racing bicycles ordered by Morris Masterpieces, Inc.

Job 16: 9 racing bicycles ordered by the Amazing Aspen Cyclists.

Job 17: 10 racing bicycles ordered by Robinson Roadsters, Inc.

Job 18: 8 racing bicycles ordered by Barker's Bike Emporium.

Bearkat Bicycles Balance Sheet December 31, 2020

Assets

Current assets:

Cash $37,003

Accounts receivable $18550

Direct Materials Inventory $2950

Indirect Materials Inventory $ 425

Work in Process $1250

Finished Goods -

Office Supplies $73

Total current assets $60,251

Property, plant and equipment:

Factory Tools $10,125

Accumulated Depreciation (78)

Total property, plant, and equipment $10,047

Total assets $70,298

Current liabilities:

Accounts payable $7,750

Wages payable $3,900

Total current liabilities $11,650

Total liabilities $11,650

Liabilities

Stockholders' Equity

Common stock $50,000

Retained earnings $8,648

Total stockholders' equity $58,648

Total liabilities and stockholders' equity $70,298

create a journal entries and an unadjusted trial balance for the following:

January 2021 Transactions:

01Per the lease agreement, which requires the first three months' rent be paid inadvance, Bearkat Bicycles paid $6,600 to Sunset Run Properties to lease 1,000 square feet of retail space.

01A 10-year note was issued to purchase an existing 3,900 square foot building on an acre of land for $105,000. The value of the land was only $50,000. The building has an estimated useful life of 20 years and a salvage value of $9,400.

02Raw materials for production totaling $37,500 were purchased on account. Direct materials amounted to $34,400 and indirect materials amounted to $3,100.

04 The production department requisitioned materials for the jobs in the following amounts:

Requisition No. Job 20 14 21 15 22 16

Direct Indirect $610 $22 $1,500 $ 45 $2,375 $ 20

05 Bearkat Bicycles received $15,500 owed from a customer, The HuntsvilleHotshots, and deposited this amount into the company's checking account.

Jan 05 Paid the accrued payroll from the last two weeks of December 2020.

Jan 10 Requisitioned more materials for jobs in progress in the following amounts:

Job 15 16 17 18

Direct $1,850 $30 $2,800 $21

Indirect $6,300 $26 $1,450 $20

Jan 15 Invoice for $500 from Huntsville Water & Electric is received and due February 10th. The invoice includes the water and electricity used by Bearkat Bicycles. Assume 54% of the invoice reflects factory use and the other 46% reflects administrative activities.

Jan 20 The company declares and pays a cash dividend of $.38 per share.

Jan 22 The first note payment of $4,238 is made to the First Bank of Huntsville, which includes $3,938 in interest.

Jan 30 Employees are paid monthly on the 5thof every month. Accrue the payroll for the entire month of January, which will be paid on February 5th. The payroll includes the sales and administrative staff that worked a total of 60 hours and earns $12.50 per hour, the part-time factory maintenance worker that worked a total of 50 hours and earns $10.00 per hour, the production supervisor earns $675 a week (assume an even four weeks was worked). Ignore all related payroll taxes. In addition, the following hours were incurred by assembly line workers based on the production time cards for each job:

Job Hours Rate

1420 $10

1587 $10

1690 $10

1795 $10

1840 $10

Jan 30 Apply factory overhead to all jobs (14, 15, 16, 17, & 18). Overhead is allocated based ondirect labor costs. Budgeted overhead costs for the year were estimated to be $46,000. Bearkat estimates that direct labor costs will amount to $115,000 for the year.

Jan 30 Jobs 14, 15, and 16 were completed and transferred to the warehouse.

Jan 30Sold all bikes from Job 14 and Job 15, and 6 bikes from Job 16 on account. Ignore sales tax.

Jan 31Job 17 was completed and transferred to the warehouse.

Check Figures: Cash $33,965

Indirect Materials $3,341

Work in Process $2,010

Wages Payable $7270

Factory Overhead $2326

Unit cost Job 16 $715