dub Orater Cortingi b. Soures docoinenta ferealiad 4 . e. Over d. Other manufachuring costs incarred were as fetloms. Factory uataice Factory depreciation Factory wepervisonimaintenance sataries a. L.MB completed all jobs except lob 2113. e. LMB sold job 2111 for 325,000 (only Job 2112 is still cempleted but unsoth) Only tecons the cont side (not revenues). f. L.MB elosed the Manufacturing Overhead aceount. A summary of job costs after all costs were added (transactions a-c) is as follows: Required - 1) and 2) are completed on the next page. 1) Show each of the July transactions listed above in the T-Accounts provided (use 'Other' for any account not listed). The only account with a beginning balance is the Wotk in Process account (the cost of Jobs 2111 and 211 a bon July 1 st). 2) Indicate the ending balance in the accounts listed on the following page. 3) Calculate gross profit before the overhead account is closed: 4) Calculate gross profit after the overhead account is closed: Bonus: Explain the difference in your gross profit calculations and why the gross profit increased or decreased as a result. Fequirement 1 - lak.. Weter entries ... Requirement 2: Indicate the ending balances (you can show them above but 1 need to be able to tell what your ending. balances are). Make sure the balances are after ALL. (including transaction f.) transactions are recorded. Raw Materials Inventory: Work in Process Inventory: Finished Goods Inventory: Cost of Goods Sold: Manufacturing overhead: dub Orater Cortingi b. Soures docoinenta ferealiad 4 . e. Over d. Other manufachuring costs incarred were as fetloms. Factory uataice Factory depreciation Factory wepervisonimaintenance sataries a. L.MB completed all jobs except lob 2113. e. LMB sold job 2111 for 325,000 (only Job 2112 is still cempleted but unsoth) Only tecons the cont side (not revenues). f. L.MB elosed the Manufacturing Overhead aceount. A summary of job costs after all costs were added (transactions a-c) is as follows: Required - 1) and 2) are completed on the next page. 1) Show each of the July transactions listed above in the T-Accounts provided (use 'Other' for any account not listed). The only account with a beginning balance is the Wotk in Process account (the cost of Jobs 2111 and 211 a bon July 1 st). 2) Indicate the ending balance in the accounts listed on the following page. 3) Calculate gross profit before the overhead account is closed: 4) Calculate gross profit after the overhead account is closed: Bonus: Explain the difference in your gross profit calculations and why the gross profit increased or decreased as a result. Fequirement 1 - lak.. Weter entries ... Requirement 2: Indicate the ending balances (you can show them above but 1 need to be able to tell what your ending. balances are). Make sure the balances are after ALL. (including transaction f.) transactions are recorded. Raw Materials Inventory: Work in Process Inventory: Finished Goods Inventory: Cost of Goods Sold: Manufacturing overhead
