I know I am doing something wrong because my cost of goods manufactured number is not correct. Can someone please go over everything I have done and help me complete this.

You work for Thunderduck Custom Tables Inc. This is the first month of operations. The company designs an specialty tables. Each table is specially customized for the customer. This month, you have been asked to de manufacture two new tables for customers. You will design and build the tables. This is a no nail, no screw, manufacturing ( no indirect materials used). You will be keeping track of the costs incurred to manufacture t Job #1 Cost Sheet and Job #2 Cost Sheet. The cost of the direct materials that can be used to manufacture the table are as follows. These cost are on basis. Table Top $1,800.00 Table Leg $550.00 Drawer $380.00 The company uses a job order costing system and applies manufacturing overhead to jobs based on direct The company estimates that there will be 12 direct labor hours worked during the month. The estimated manufacturing overhead cost for the month is: a. Factory supervisor salary per month b. Rent for the factory per month c. $4,000.00 $1,400.00 Depreciation of factory equipment per month $600.00 Total Estimated manufacturing overhead What is the predetermined manufacturing overhead rate? $6,000.00 Step The first order you received was to manufacture a table using a table top and four legs. This is your Jo 2 Step The customer that has ordered Job #2, wants a table that is the same as Job #1, but wants to also add 3 the table. The following is a list of transactions that need to be recorded for the company for activity in the mon Record those in the "General Journal" tab of the excel file using the proper format. Please use the follo Step Accounts Receivables, Raw materials, Work in process, Finished goods, Accumulated depreciation, Acc 4 Salaries and wages payable, Sales revenue, Manufacturing overhead, Cost of goods sold, Salaries and expense, Advertising expenses, and Depreciation expense. 1-Dec Raw Materials purchased on account, $18,000. 5-Dec All Raw Materials needed for Job #1 were requisitioned from the material storage for use during the m all materials are direct. (After you journalize this entry please enter the information into Job #1 Cost S 10Dec The following employee costs were incurred but not paid during the month: There are three assembly employees that spend 2 hours each, $20 per hour to make the table for Job #1. (A journalize this entry please enter the information into Job #1 Cost Sheet) Salary for supervisor of the factory $4,500. Administrative Salary $2,000. All Raw Materials needed for Job #2 were requisitioned from the material storage for use during t 15-Dec Assume all materials are direct. (After you journalize this entry please enter the information into J Sheet) 16-Dec Rent for the month of December for the factory building incurred but not paid $1,400. 17-Dec Advertising costs incurred but not paid for the month was $1,600. 20-Dec Depreciation for the month of December was recorded on equipment was $750 ($150 for equipm factory and the remainder for equipment used in selling and administrative activities). 22-Dec Manufacturing overhead cost was applied based on direct labor hours to Job #1 based on the POH on the "Job Cost Sheet". (After you journalize this entry please enter the information into Job #1 C 26-Dec Job #1 was completed and transferred to Finished Goods during the month. 28-Dec The completed table from Job #1 was sold on account to the customer for $23,000 during the mo Make sure to account for the cost of the table that was sold using the cost from the job cost sheet 31-Dec Direct labor cost incurred but not paid for three employees to start manufacturing Job #2. The em worked one hour each, three hours total, $20 per hour during the month and they did not comple the job. (After you journalize this entry please enter the information into Job #2 Cost Sheet) 31-Dec Manufacturing overhead cost was applied based on direct labor hours to Job #2 based on the POH direct labor hours were worked on Job #2 during the month. (After you journalize this entry please information into Job #2 Cost Sheet) 31-Dec Any underapplied or overapplied overhead for the month was closed out to Cost of Goods Sold. Step 5 Post the journal entries that you recorded on the "General Journal" tab to the "T-accounts" tab. Th company's first month of business, so there will not be any beginning balances. Compute the bala account after all of the entries have been posted. Step 6 Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold on the " COGM and COGS" tab for Job #1 and Job #2 that were worked on during the month by the compa to follow the format noted in your book (pg. 87). (Hint: This is the company's first month of opera therefore the beginning balances will be zero.) Step 7 Prepare an Income Statement for the month using the Traditional Format on the "Income Stateme Step 8 Answer the additional questions below Check Figure: Cost of Goods Manufactured= $7,120, Net operating income=$10,130 What is the ending balance for raw materials? What is the ending balance for work in process? What is the ending balance for finished goods? Job Cost Sheet Job Number #1 Date Initiated Item Date completed Direct Matarials Direct Labor Amount $ Hours 4,000 Manufacturing Overhead Rate 6 Amount 20 Cost Summary Direct Materials $ 4,000.00 Direct Labor $ 120.00 Manufacturing Overhead $ 3,000.00 Total Product Cost $ 7,120.00 Unit Product Cost $ 7,120.00 120 Hours 6 Direct Materials: Manufacturing Overhead Rate $500.00 Amount $3,000.00 Materials: Job Cost Sheet Job Number #2 Date Initiated Item Date completed Direct Matarials Amount $ Direct Labor Hours 4,380 Rate 3 Manufacturing Ov Amount 20 Cost Summary Direct Materials $ 4,380.00 Direct Labor $ 60.00 Manufacturing Overhead $ 1,500.00 Total Product Cost $ 5,940.00 Unit Product Cost $ 5,940.00 Hours 60 3 Direct Materials: Manufacturing Overhead Rate Amount $500.00 $1,500.00 Date General Journal Description 1-Dec Raw Materials Accounts Payable 5-Dec Work In Process Raw Materials 10-Dec Work In Process Manufacturing Overhead Salaries and Wages Expense Salaries and Wages Payable 15-Dec Work In Process Raw Materials 16-Dec Manufacturing Overhead Accounts Payable 17-Dec Advertising expenses Accounts Payable 20-Dec Manufacturing overhead Depreciation expense Accumulated depreciation 22-Dec Work in process Manufacturing overhead 26-Dec Finished Goods Work in process 28-Dec Accounts Receivables Sales Cost of goods sold Finished Goods 31-Dec Work in process Salaries and Wages Payable 31-Dec Work In Process Manufacturing Overhead 31-Dec Work in process Manufacturing overhead Debit Credit $18,000 $18,000 $ 4,000 $ 4,000 $ 120 $ 4,500 $ 2,000 $ 6,620 $ 4,380 $ 4,380 $ 1,400 $ 1,400 $ 1,600 $ 1,600 $ $ 150 600 $ 750 $ 3,000 $ 3,000 $ 7,120 $ 7,120 $23,000 $23,000 $ 7,120 $ 7,120 $ 60 $ 60 1500 1500 $ 1,120 $ 1,120 Account Receivables 28-Dec $ 23,000 Accounts Payable $ 18,000 $ 1,400 $ 1,600 $ $ 1-Dec $ Raw Materials 18,000 $ 4,000 $ 4,380 5-Dec 15-Dec Salaries and Wages Payable $ 6,620 $ 60 $ $ 5-Dec 10-Dec 15-Dec 22-Dec 31-Dec 31-Dec $ $ $ $ $ $ $ 9,620 Work In Process 4,000 $ 7,120 120 4,380 3,000 60 1,120 - $ 28-Dec - Manufacturing Overhead 10-Dec $ 4,500 $ 3,000 16-Dec $ 1,400 $ 1,120 20-Dec $ 150 $ 26-Dec 5,560 Finished Goods 26-Dec $ 7,120 $ 7,120 $ 21,000 23,000 1,930 Accumulated Depreciation 22-Dec 31-Dec 6,680 $ 600 $ 600 20-Dec yable Sales Revenue $ 15,880 1-Dec 16-Dec 17-Dec $ 15,880 es Payable 10-Dec 31-Dec Cost of Goods Sold 28-Dec $ 7,120 $ 7,120 Salaries and Wages Expense 10-Dec $ 2,000 $ 2,000 Advertising Expense 17-Dec $ 1,600 $ 1,200 Depreciation Expense 20-Dec $ 600 $ 600 28-Dec Thunderduck Custom Tables, Inc. Schedule of cost of goods manufactured For the month Ended December 31, 20XX Direct Material used: Beginning Raw Materials 0 Add: cost of Raw materials Pur 18000 Total Raw materials Availabe 18000 Less: ending raw materials 9620 Totals Materials used direct labor Manufacturing OH applied Total manufacturing goods costs add: Beginning work in process inventory Less: ending work in Process Cost of goods manufactored 8380 180 4500 13060 0 5560 7500 Thunderduck Custom Tables, Inc. Cost of goods sold For the month Ended December 31, 20XX Beginning finished goods Add: Cost of goods Manufactored Total cost of goods avaliable for sale Less ending finished goods unadjusted cost of goods sold add under applied overhead Adjusted cost of goods sold Custom Tables, Inc. of goods sold ded December 31, 20XX Thunderduck Custom Tables, Inc. Income Statement For the month Ended December 31, 20XX 0 7120 Sales Variable Expenses