Evelyn Stuart started Stuart Manufacturing Company to make a universal television remote control device that she had invented. The company's labor force consisted of part-time employees. The following accounting events affected Stuart Manufacturing Company during its first year of operation. (Assume that all transactions are cash transactions unless otherwise stated.) Transactions for January 2018, First Month of Operation pints eBook 1. Issued common stock for $9,500. 2. Purchased $405 of direct raw materials and $55 of production supplies. 3. Used $250 of direct raw materials. 4. Used 80 direct labor hours, production workers were paid $9.60 per hour. 5. Expected total overhead costs for the year to be $3,200, and direct labor hours used during the year to be 1,000. Calculate an overhead rate and apply the appropriate amount of overhead costs to Work in Process Inventory. 6. Paid $140 for salaries to administrative and sales staff. 7. Paid $21 for indirect manufacturing labor. 8. Paid $210 for rent and utilities on the manufacturing facilities. 9. Started and completed 100 remote controls during the month; all costs were transferred from the Work in Process Inventory account to the Finished Goods Inventory account 10. Sold 75 remote controls at a price of $21.6 each. Print References Transactions for Remainder of 2018 11. Acquired an additional $18,000 by issuing common stock. 12. Purchased $3,900 of direct raw materials and $925 of production supplies. 13. Used $3,020 of direct raw materials. 14. Paid production workers $9.60 per hour for 900 hours of work. 15. Applied the appropriate overhead cost to Work in Process Inventory. 16. Paid $1,551 for salaries of administrative and sales staff. 17. Paid $237 of indirect manufacturing labor cost. 18. Paid $2,400 for rental and utility costs on the manufacturing facilities. 19. Transferred 850 additional remote controls that cost $12.74 each from the Work in Process Inventory account to the Finished Goods Inventory account. 20. Determined that $169 of production supplies was on hand at the end of the accounting period. 21. Sold 860 remote controls for $21.60 each. 22. Determine whether the overhead is over- or underapplied. Close the Manufacturing Overhead account to the Cost of Goods Sold .....account. Goods Inventory account. 20. Determined that $169 of production supplies was on hand at the end of the accounting period. 21. Sold 860 remote controls for $21.50 each. 22. Determine whether the overhead is over- or underapplied. Close the Manufacturing Overhead account to the Cost of Goods Sold account 23. Close the revenue and expense accounts. Required a. For each of the above transactions, post the effects to the appropriate T-accounts. b. Prepare a schedule of cost of goods manufactured and sold, an income statement, and a balance sheet for 2018. Complete this question by entering your answers in the tabs below. Req A Req B CGM Sched Req B Inc Stmt Req B Bal Sheet For each of the above transactions, post the effects to the appropriate T-accounts. (Do not round intermediate calculations.) Cash Common Stock End. bal. Reg A Req B CGM Sched Req B Inc Stmt Reg B Bal Sheet For each of the above transactions, post the effects to the appropriate T-accounts. (Do not round intermediate calculations.) Cash Common Stock ook End. bal. ences End, bal Raw Materials Retained Earnings Manufacturing Overhead Sales Revenue End. bal. Work in Process Cost of Goods Sold Finished Goods Selling and Administrative Expenses End. bal. End. bal. Production Supplies Req A Req B CGM Sched Req B Inc Stmt Req B Bal Sheet Prepare a schedule of cost of goods manufactured and sold for 2018. (Do not round intermediate calculations.) STI STUART MANUFACTURING COMPANY Cost of Goods Manufactured and Sold For the Year, 2018 Book Raw materials available Print Raw materials used erences Total manufacturing costs Total work in process inventory Cost of goods manufactured Goods available for sale Cost of goods sold ReqA Req B Inc Stmt> syu a. For each of the above transactions, post the effects to the appropriate T-accounts. b. Prepare a schedule of cost of goods manufactured and sold, an income statement, and a balance sheet for 2018. 20 points Complete this question by entering your answers in the tabs below. Req A Req B CGM Sched Req B Inc Stmt Reg B Bal Sheet eBook Prepare an income statement for 2018. (Do not round intermediate calculations.) Do not round intermediate calculations. Print STUART MANUFACTURING COMPANY Income Statements For the Year, 2018 References N. LICUIUSCIILUULUULUULUU UUUUSIUTUULLUICU UUSUI, UN LLULL SLULLILIIL, UUU UUTUULL SHILLLIUI 2UIU. 20 points Complete this question by entering your answers in the tabs below. Req A Req B CGM Sched Req B Inc Stmt Reg B Bal Sheet eBook Prepare a balance sheet for 2018. (Do not round intermediate calculations.) Print STUART MANUFACTURING COMPANY Balance Sheets At the year ended 2018 Assets References Total assets Equity Total equity Evelyn Stuart started Stuart Manufacturing Company to make a universal television remote control device that she had invented. The company's labor force consisted of part-time employees. The following accounting events affected Stuart Manufacturing Company during its first year of operation. (Assume that all transactions are cash transactions unless otherwise stated.) Transactions for January 2018, First Month of Operation pints eBook 1. Issued common stock for $9,500. 2. Purchased $405 of direct raw materials and $55 of production supplies. 3. Used $250 of direct raw materials. 4. Used 80 direct labor hours, production workers were paid $9.60 per hour. 5. Expected total overhead costs for the year to be $3,200, and direct labor hours used during the year to be 1,000. Calculate an overhead rate and apply the appropriate amount of overhead costs to Work in Process Inventory. 6. Paid $140 for salaries to administrative and sales staff. 7. Paid $21 for indirect manufacturing labor. 8. Paid $210 for rent and utilities on the manufacturing facilities. 9. Started and completed 100 remote controls during the month; all costs were transferred from the Work in Process Inventory account to the Finished Goods Inventory account 10. Sold 75 remote controls at a price of $21.6 each. Print References Transactions for Remainder of 2018 11. Acquired an additional $18,000 by issuing common stock. 12. Purchased $3,900 of direct raw materials and $925 of production supplies. 13. Used $3,020 of direct raw materials. 14. Paid production workers $9.60 per hour for 900 hours of work. 15. Applied the appropriate overhead cost to Work in Process Inventory. 16. Paid $1,551 for salaries of administrative and sales staff. 17. Paid $237 of indirect manufacturing labor cost. 18. Paid $2,400 for rental and utility costs on the manufacturing facilities. 19. Transferred 850 additional remote controls that cost $12.74 each from the Work in Process Inventory account to the Finished Goods Inventory account. 20. Determined that $169 of production supplies was on hand at the end of the accounting period. 21. Sold 860 remote controls for $21.60 each. 22. Determine whether the overhead is over- or underapplied. Close the Manufacturing Overhead account to the Cost of Goods Sold .....account. Goods Inventory account. 20. Determined that $169 of production supplies was on hand at the end of the accounting period. 21. Sold 860 remote controls for $21.50 each. 22. Determine whether the overhead is over- or underapplied. Close the Manufacturing Overhead account to the Cost of Goods Sold account 23. Close the revenue and expense accounts. Required a. For each of the above transactions, post the effects to the appropriate T-accounts. b. Prepare a schedule of cost of goods manufactured and sold, an income statement, and a balance sheet for 2018. Complete this question by entering your answers in the tabs below. Req A Req B CGM Sched Req B Inc Stmt Req B Bal Sheet For each of the above transactions, post the effects to the appropriate T-accounts. (Do not round intermediate calculations.) Cash Common Stock End. bal. Reg A Req B CGM Sched Req B Inc Stmt Reg B Bal Sheet For each of the above transactions, post the effects to the appropriate T-accounts. (Do not round intermediate calculations.) Cash Common Stock ook End. bal. ences End, bal Raw Materials Retained Earnings Manufacturing Overhead Sales Revenue End. bal. Work in Process Cost of Goods Sold Finished Goods Selling and Administrative Expenses End. bal. End. bal. Production Supplies Req A Req B CGM Sched Req B Inc Stmt Req B Bal Sheet Prepare a schedule of cost of goods manufactured and sold for 2018. (Do not round intermediate calculations.) STI STUART MANUFACTURING COMPANY Cost of Goods Manufactured and Sold For the Year, 2018 Book Raw materials available Print Raw materials used erences Total manufacturing costs Total work in process inventory Cost of goods manufactured Goods available for sale Cost of goods sold ReqA Req B Inc Stmt> syu a. For each of the above transactions, post the effects to the appropriate T-accounts. b. Prepare a schedule of cost of goods manufactured and sold, an income statement, and a balance sheet for 2018. 20 points Complete this question by entering your answers in the tabs below. Req A Req B CGM Sched Req B Inc Stmt Reg B Bal Sheet eBook Prepare an income statement for 2018. (Do not round intermediate calculations.) Do not round intermediate calculations. Print STUART MANUFACTURING COMPANY Income Statements For the Year, 2018 References N. LICUIUSCIILUULUULUULUU UUUUSIUTUULLUICU UUSUI, UN LLULL SLULLILIIL, UUU UUTUULL SHILLLIUI 2UIU. 20 points Complete this question by entering your answers in the tabs below. Req A Req B CGM Sched Req B Inc Stmt Reg B Bal Sheet eBook Prepare a balance sheet for 2018. (Do not round intermediate calculations.) Print STUART MANUFACTURING COMPANY Balance Sheets At the year ended 2018 Assets References Total assets Equity Total equity