Hi I need help with this entire long question attached screenshots available below.

5:061 (D v2.cengagenow.com Assets Cash AccounG receivable (net) Inventory: Direct materials Work in process Finished goods Total inventory Supplies Land Total assets Lia bi lities Accounts payable Stockholders' Equity Common stock Retained earnings Total stockholders' equity Total liabilities and stockholders' equity $20,800 10,000 $2,500 1,500 2.000 6,000 2,100 17,000 $55,900 $17,800 519.000 19.100 38,100 $55,900 Which income statement is most appropriate for a manufacturing business? v Which balance sheet is most appropriate for a manufacturing business? v Costs and Balances At the end of February, after the second month of operations of Able Baker Charlie Company, Charles shows you the data he's collected, but he was unable to gure out some of the amounts. Review the following data and fill in the missing amount on the chart for Able Baker Charlie Company. Note: It may be helpful to use T accounts to map the flow of the amounts through the manufacturing accounts and solve for the missing dollar values. It may also be helpful to review the steps for determining the cost of materials used, total manufacturing cost incurred, and cost of goods manufactured. Data for February Decrease in materials inventory Materials inventory on Feb. 28 Direct materials purchased Direct materials used Total manufacturing costs incurred in period Total manufacturing costs incurred In period Total manufacturing costs Incurred In period $3,000 50% of materials Inventory on Jan. 31 $12,000 3 tlmes the dlrect labor Incurred 529.400 70% of Cost of Goods Manufactured $10,000 less than Cost of Goods Sold Account Balance Account Jan. :1 Materials Inventory Si Work ll'l Process Inventory 21,000 Finished Goods Inventory Feb. 28 Costs Incurred Direct Labor Incurred sl Direct Materials Used 15,500 Factory Overhead Incurred Cost of Goods Sold + 5:061 v2.cengagenow.com Mid-term Financial Statements Charles found some sample income statements and balance sheets on the Internet, and asked which of them might be most appropriate for a manufacturing business like his. Review income statements A and B, and balance sheets C and D. Determine which income statement and balance sheet would be most appropriate for a manufacturing business like Able Baker Charlie Company. Income Statement A Sample Company A Income Statement For the Year Ended December 31, 20Y8 Sales $42,000 Finished goods inventory, January 1, 20Y8 $5,250 Cost of goods manufactured 6.400 Cost of finished goods available for sale $11,650 Finished goods inventory, December 31, 20Y8 (400) Cost of goods sold (11,250) Gross profit $30,750 Operating expenses: Selling expenses $6,400 Administrative expenses 5,250 Total operating expenses (11,650) Net income $19,100 Income Statement B Sample Company B Income Statement For the Year Ended December 31, 20Y8 Sales $42,000 Beginning inventory $5,250 Net purchases 6,400 Inventory available for sale $11,650 Ending inventory (400) Cost of goods sold (11,250) Gross profit $30,750 Operating expenses: Selling expenses $6,400 Administrative expenses 5,250 Total operating expenses (11,650) Net income $19,100 Balance Sheet C Sample Company C Balance Sheet December 31, 20Y8 Assets Cash $20,800 Accounts receivable (net) 10,000 Inventory 6,000 Supplies 2,100 Land 17,000 Total assets $55,900 Liabilities 2 . . .5=054 ...I as E} (D v2.cengagenow.com [I] Mastery Problem: Introduction to Managerial Accounting Able Baker Charlie Company Charles Maxwell is starting a cheesecake bakery, Able Baker Charlie Company, to produce and sell different flavored cheesecakes to restaurants and the general public. He has just begun his study of accounting, and is a bit confused about the many types of reports he has read about and how they will help him run his business. He asks you to help him clarify what the differences between managerial o accounting and financial accounting are. He's also wondering how to set up his inventory, how to classify the costs of his business, and how to fill in some missing information. Managerial vs. Financial Select whether the following characteristics are most often associated with managerial accounting or financial accounting. Primarily used for internal decision making 7 Generally Accepted Accounting Principles (GAAP) must be used V Prepared statements usually pertain to the company as a whole rather V than individual departments or products Information provided will often be subjective, such as estimated future V results Often prepared on an as-needed basis rather than at xed intervals V Cost Classication Charles has provided some of the costs he expects to incur as follows. Decide on the classifications that could be applied to each of these costs using the table provided. The cost object in each case is the cheesecake. (Select "Yes" or "No" from the below dropdowns.) C t Product Period Direct Direct Factory Selling as Cost Cost Materials Labor Overhead Expense Eggs used to make V v v v v v Cheesecakes Baker's V V V V V V wages Delivery driver 7 V v v v v wages Depreciation of ofce v v v v v 7 computers inerto run the V V V V V V cheesecake ovens President's V V V V V V salary Sales , , V V V V V V commissmns ' Factory supervisor V V V V V V salary e + a 5=06 4 ...I as E} G) v2.cengagenow.com [I] Balance Sheet C Sample Company C Balance Sheet December 31, 20Y8 Assets Cash $20,800 Accounm receivable (net) 10,000 inventory 6,000 Supplies 2,100 0 Land 17,000 Total assets 555,900 Liabilities Accounts payable $17,800 Stockholders' Equity Common stock $19,000 Retained earnings 19,100 Total stockholders' equity 38,100 Total liabilities and stockholders' equity $55,900 Balance Sheet D Sample Company D Balance Sheet December 31, 20Y8 Assets Cash $20,300 Accounts receivable (net) 10,000 Inventory: Direct materials $2,500 work in process 1,500 Finished goods 2,000 Total inventory 6,000 Supplies 2,100 Land 17,000 Total assets 855,900 Liabilities Accounm payable $17,300 Stockholders' Equity Common stock $19,000 Retained eamlngs 19,100 Total stockholders' equity 35,100 Total liabilities and stockholders' equity $55,900 Which income statement is most appropriate for a manufacturing business? V Which balance sheet is most appropriate for a manufacturing business? v Costs and Balances At the end of February, after the second month of operations of Able Baker Charlie Company, Charles shows you the data he's collected, but he was unable to gure out some of the amounts. Review the following data and fill in the missing amounts e + E) 5=054 ..r| as E} (Select "Yes" or "No" from the below dropdowns.) Product Period Direct Direct Factory Selllg Cost cost Cost Materials Labor Overhead Expense Eggs used to make 7 V V v v v cheeses: kes Baker's wages Delivery driver v v v v v v wages Depreciation of ofce V v v v v v computers Power to run the cheesecake OVENS President's salary Sales commissions Factory supervisor V V V V V V salary Financial Statements Charles found some sample income statements and balance sheets on the Internet, and asked which of them might be most appropriate for a manufacturing business like his. Review income statements A and B, and balance sheets C and D. Determine which income statement and balance sheet would be most appropriate for a manufacturing business like Able Baker Charlie Company. Income Statement A Sample Company A Income Statement For the Year Ended December 31, 20Y8 Sales $42,000 Finished goods inventory. January i, 20\" $5,250 Cost of goods manufactured 6.400 Cost of nished goods available for sale $11,650 Finished goods inventory, December 31, ZOYB (400) Cost of goods sold (11.250) Gross prot $30,750 Operaong expenses: Selling expenses $6,400 Administrative expenses 5,250 Total operating expenses (11.650) Net Income $19,101] Income Statement B Sample Company B Income Statement For the Year Ended December 31, 20Y8 Sales $42,000 Beginnlng Inventory $5,250 Net purchases 6,400 Inventory available for sale $111650 e + E)