HEAVENLY CREATIONS. INC. Statement of Cost of Goods Manufactured Year Ended January. 31. 202K Beginning Work-in-Process inventory Direct Materials Used: Beginning Raw Materials Inventory Purchases of Raw Materials Raw Materials Available tor Use Ending Raw Materials Inventory Direct Materials Used Direct Labor Manufacturing Overhead Total Manufacturing Costs Incurred during the Year Total Manufacturing Costs to Account For Ending Wom-in-Process Inventory Cost of Goods Manufactured HEAVENLY CREAHONS, INC. Income Statement Year Ended January 31. 202K Revenues: Sales Revenue Cost of Goods Sold Gross Margin Expenses: Cash Register Salary Expense Phone Expense Accounting Expense Total Expenses Net Income (Loss) 100 $ 10,000 L LL Date Accounts and Explanation Debit Credit A Cash 10,000 Heaven Jones Capital 10,000 Invested $10,00( B Raw Materials Inventory 2,329 Accounts Payable 2,329 Purchased raw materials on account C Accounts Payable 2,329 Cash 2,329 Paid cash for supplies D Manufacturing Overhead 150 Raw Materials Inventory 150 Transferred materials to work in process E Work in Process Inventory 2, 179 Raw Materials Inventory 2, 179 Transferred materials to work in process F Selling and Administrative Expenses 50 Accounts Payable 50 Signed cell phone agreeme H Work in Process Inventory 2,400 Salaries Payable 2,400 Recorded nieces salaries Selling and Administrative Expenses 500 Salaries Payable 500 Recorded Heavens salary J Manufacturing Overhead 100 Salaries Payable 100 Recorded Aunt Hellens sal K Selling and Administrative Expenses 100 Salaries Payable 100 Recorded Accountants salaDate Accounts and Explanation Debit Credit Work In Process Inventory 800 Manufacturing Overhead 800 Recording overhead to production M Equipment (Oven) 6,000 Cash 6,000 Purchased new ovens with cash N Accounts Payable 62 Cash 62 Paid rental for register and phone O Finished Goods Inventory 5,379 Work In Process Inventory 5,379 Completed cakes available for sale P Cash 10.000 Sales 10,000 Recorded cash sales Q Cost of Goods Sold 5,379 Finished Goods Inventory 5,379 Recorded Costs R Manufacturing Overhead 650 Finished Goods Inventory 650 Recorded Costs S Salaries Payable 3, 100 Cash 3, 100 Paid Labor for the month T Manufacturing Overhead 100 Accumulated Depreciation 100 To account for depreciation on oven U Costs of Goods Sold 200 Manufacturing Overhead 200 Recorded manufacturing overhead allocation