I filled majority of this put but want to know if I did it correctly Thank you Exercise 11 14A Product cost flow and financial statements land Manufacturing Compay was started on January 1, 2018 The company was affected by the following events during its first year of operation 1 Acquired $2,400 cash from the issue of common stock 2 Paid $720 cash for direct raw materials 3 Transferred $480 of direct raw materials to work in process 4 Paid production employees $720 cash 5 Paid $360 cash for manufacturing overhead costs 6 Applied $294 of manufacturing overhead costs to work in process 7 Completed work on products that cost $1,200 8 Sold products that cost $960 for $1,680 cash 9 Paid $480 cash for selling and administrative expenses 10 Made a $60 cash distribution to the owners 11 Closed the Manufacturing Overhead account Required a Record these events in a horizontal statements model The first event is shown as an example Assets Equity Cash MOH Raw M wiP F, Goods C Stk Ret Ear Rev Exp Net Inc 2 400 NA NA NANA2400 NA NA NANA b Prepare a schedule of cost of goods manufactured and sold Assets Net Income Cash Flows t Fin Goods C Stock Ret E Ina Ina Revenu Ex na na 0 No Cash MOH Raw Mat WP na 2400 na Ina Ina Ina 2400 na 720 na Ina ina na na na na 480 na na na na 720 na t na 360 na 294 na na Ina Ina na Ina Ina 294 na 12001 1 na na 12001 na 1680 960 480 na 1680 na 1680 Ina Ina 1680 na Ina 480 na 1060 na 8 8a 9 8b n 9601 480 960 na Ina t na na na 66 174 66 Ina 1506 1680 2400 1740 3 Total 5 11 14 b Beginning Raw Materials Raw Material Purchases Raw Materials Available for use Ending Raw Materials Inventory Raw Materials Used Direct Labor Manufacturing Overhead Total Manufacturing Costs Beginning work in process inventory total work in progress inventory Ending Work in Progress Inventory Cost of Goods Manufactured Beginning Finished Goods Inventory Finished Goods Available for Sale Ending Finished Goods Inventory Cost of Goods Sold 720 960 720 360 2040 2040 1200 1200

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I filled majority of this put but want to know if I did it correctly  Thank you  Exercise 11 14A Product cost flow and financial statements land Manufacturing Compay was started on January 1, 2018  The company was affected by the following events during its first year of operation  1  Acquired $2,400 cash from the issue of common stock  2  Paid $720 cash for direct raw materials  3  Transferred $480 of direct raw materials to work in process  4  Paid production employees $720 cash  5  Paid $360 cash for manufacturing overhead costs  6  Applied $294 of manufacturing overhead costs to work in process 7  Completed work on products that cost $1,200  8  Sold products that cost $960 for $1,680 cash 9  Paid $480 cash for selling and administrative expenses  10  Made a $60 cash distribution to the owners 11  Closed the Manufacturing Overhead account  Required a  Record these events in a horizontal statements model  The first event is shown as an example Assets Equity Cash   MOH   Raw M    wiP   F, Goods C  Stk    Ret  Ear Rev    Exp  Net Inc  2 400 NA NA NANA2400 NA NA NANA b  Prepare a schedule of cost of goods manufactured and sold  Assets Net Income Cash Flows t Fin Goods C  Stock  Ret E Ina Ina Revenu Ex na na 0 No  Cash MOH Raw Mat   WP na 2400 na  Ina  Ina Ina 2400  na 720 na   Ina  ina   na na na na 480   na na na na 720  na t na 360  na 294  na na Ina   Ina na Ina  Ina 294  na 12001 1 na na 12001 na 1680 960 480 na 1680   na 1680  Ina Ina 1680 na  Ina 480  na 1060 na 8 8a 9 8b n 9601 480 960 na  Ina t na na na  66 174 66  Ina 1506 1680 2400 1740  3 Total 5 11 14 b Beginning Raw Materials Raw Material Purchases Raw Materials Available for use Ending Raw Materials Inventory Raw Materials Used Direct Labor Manufacturing Overhead Total Manufacturing Costs Beginning work in process inventory total work in progress inventory Ending Work in Progress Inventory Cost of Goods Manufactured Beginning Finished Goods Inventory Finished Goods Available for Sale Ending Finished Goods Inventory Cost of Goods Sold 720 960 720 360 2040 2040 1200 1200

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I filled majority of this put but want to know if I did it correctly. Thank you! Exercise 11-14A Product cost flow and financial statements

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