I need help with compeleting the following general ledger accounts. i have added the previous 3 requirements in the photos that i have a completed and are correct to help fill it out.
\begin{tabular}{|c|c|c|c|c|c|c|c|} \hline \multicolumn{8}{|l|}{ Cost Assignment } \\ \hline Completed and transferred out & EUP & \multicolumn{2}{|c|}{ Cost per EUP } & \multicolumn{2}{|c|}{ Total cost } & & \\ \hline Direct materials & 14,000 & $ & 3.40 & $ & 47,600 & & \\ \hline \multirow[t]{2}{*}{ Conversion } & 14,000 & $ & 21.50 & & 301,000 & & \\ \hline & & & & & & $ & 348,600 \\ \hline Ending work in process & EUP & \multicolumn{2}{|c|}{ Cost per EUP } & \multicolumn{2}{|c|}{ Total cost } & & \\ \hline Direct materials & 4.000 & $ & 3.40 & s & 13,600 & & \\ \hline \multirow[t]{2}{*}{ Conversion } & 1.200 & $ & 21.50 & & 25,800 & & \\ \hline & & & & & & & 39,400 \\ \hline Total costs accounted for & & & & & & $ & 388,000 \\ \hline \end{tabular} Using the results from part 2 and the available information, make computations and prepare journal entries to record the following: f. Total costs transferred to finished goods for July. 9. Sale of finished goods costing $290,700 for $675,000 in cash. Major League Bat Company manufactures baseball bats. In addition to its work in process inventories, the company maintains inventories of raw materials and finished goods. It uses raw materials as direct materials in production and as indirect materials. Its factory payroll costs include direct labor for production and indirect labor. All materials are added at the beginning of the process, and conversion costs are applied uniformly throughout the production process. Required: You are to maintain records and produce measures of inventories to reflect the July events of this company. The June 30 balances: Raw Materials Inventory, $29,000; Work in Process Inventory, $7,835 (\$3,160 of direct materials and $4,675 of conversion); Finished Goods Inventory, \$100,000; Sales, \$0; Cost of Goods Sold, \$0; Factory Payroll Payable, \$0; and Factory Overhead, \$0. 1. Prepare journal entries to record the following July transactions and events. a. Purchased raw materials for $165,000 cash. b. Used raw materials as follows; direct materials, $58,040; and indirect materials, $15,000. c. Recorded factory wages payable costs as follows: direct labor, $214,750; and indirect labor, $30,000, d. Incurred other actual factory overhead costs of $62,375 paid in cash. e. Applled foctory overhead to production at 50% of direct labor costs. \begin{tabular}{|c|c|c|c|c|c|} \hline & No & Transaction & General Journal & Debit & Credit \\ \hline \multirow[t]{2}{*}{1} & 1 & a. & Raw materials inventory & 165,000 & \\ \hline & & & Cash & & 165,000 \\ \hline & 2 & b1. & Work in process inventory & 58,040 & \\ \hline & & & Raw materials inventory & T & 58,040 \\ \hline & & & + & & \\ \hline \multirow{3}{*}{1} & 3 & b2 & Factory overhead & 15,000 & 40 \\ \hline & & & Raw materials inventory & & 15,000 \\ \hline & & & E & & \\ \hline \multirow[t]{2}{*}{/} & 4 & c1. & Work in process inventory & 214,750 & \\ \hline & & & Factory wages payable & & 214,750 \\ \hline \multirow[t]{3}{*}{1} & 5 & c2. & Factory overhead & 30,000 & \\ \hline & & & Factory wages payable & & 30,000 \\ \hline & & & & & \\ \hline \multirow{2}{*}{7} & 6 & d. & Factory overhead & 62,375 & \\ \hline & & & Cash & & 62,375 \\ \hline \multirow[t]{2}{*}{1} & 7 & e. & Work in process inventory & 107,375 & \\ \hline & & & Factory overhead & & 107,375 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline \multicolumn{3}{|c|}{ Sales } & \begin{tabular}{l} Account \\ Number 413 \end{tabular} & \multicolumn{3}{|c|}{ Cost of Goods Sold } & \begin{tabular}{c} Account \\ Number 502 \end{tabular} \\ \hline Date & Debit & Credit & Balance & Date & Debit & Credit & Balance \\ \hline & & & & & & & \\ \hline \multicolumn{8}{|l|}{} \\ \hline \\ \hline \multicolumn{3}{|c|}{ Factory Overhead } & \begin{tabular}{c} Account \\ Number 540 \end{tabular} & & & & 1 \\ \hline Date. & Debit & Credit & Balance & & & & \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline \end{tabular} 2. Information about the July work in process (WIP) inventory follows. Use this information with that from part 1 to prepare a production cost report, assuming the weighted overage method is used. 3. Using the results from part 2 and the avallable information, make computations and prepore joumal entries to record the following: f. Total costs transferred to finished goods for July. 9. Sale of finished goods costing $290,700 for $675,000 in cash. 4. Post entries from parts 1 and 3 to the following general ledger accounts. 5. Compute the amount of gross profit from the sales in July. Complete this question by entering your answers in the tabs below. Post entries from parts 1 and 3 to the following general ledger accounts. \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline \multicolumn{8}{|l|}{ Unit reconciliation: } \\ \hline \multicolumn{8}{|l|}{ Units to account for: } \\ \hline Beginning work in process & 8,000 & & & & & & \\ \hline Units started this period & 10,000 & & & & & & \\ \hline Total units to account for & 18,000 & & & & & & \\ \hline \multicolumn{8}{|l|}{ Units accounted for: } \\ \hline Completed and transferred out & 14,000 & & & & & & \\ \hline Ending work in process & 4,000 & & & & & & \\ \hline Total units accounted for & 18,000 & & & & & & \\ \hline \multicolumn{8}{|l|}{ Equivalent units of production (EUP) } \\ \hline & \multirow{2}{*}{ Units } & \multicolumn{3}{|c|}{ Direct Materials } & \multicolumn{3}{|c|}{ Conversion } \\ \hline & & \% Complete & & EUP & % Complete & & EUP \\ \hline Completed and transferred out & 14,000 & 100% & & 14,000 & 100% & & 14,000 \\ \hline Ending work in process & 4,000 & 100% & & 4,000 & 30% & & 1,200 \\ \hline Equivalent Units of Production & 18,000 & & & 18,000 & & & 15,200 \\ \hline Cost per equivalent unit of production & & \multicolumn{3}{|c|}{ Direct Materials } & \multicolumn{3}{|c|}{ Conversion } \\ \hline Cost of beginning work in process & & & $ & 3,160 & & $ & 4,675 \\ \hline Costs added this period & & & & 58,040 & & & 322,125 \\ \hline Total costs & & Costs & $ & 61,200 & Costs & $ & 326,800 \\ \hline Equivalent units of production & & EUP & & 18,000 & EUP & & 15,200 \\ \hline \multicolumn{3}{|c|}{ Cost per equivalent unit of production (rounded to 2 decimals) } & $ & 3.40 & & $ & 21.50 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline \multicolumn{8}{|l|}{ Cost Assignment } \\ \hline Completed and transferred out & EUP & \multicolumn{2}{|c|}{ Cost per EUP } & \multicolumn{2}{|c|}{ Total cost } & & \\ \hline Direct materials & 14,000 & $ & 3.40 & $ & 47,600 & & \\ \hline \multirow[t]{2}{*}{ Conversion } & 14,000 & $ & 21.50 & & 301,000 & & \\ \hline & & & & & & $ & 348,600 \\ \hline Ending work in process & EUP & \multicolumn{2}{|c|}{ Cost per EUP } & \multicolumn{2}{|c|}{ Total cost } & & \\ \hline Direct materials & 4.000 & $ & 3.40 & s & 13,600 & & \\ \hline \multirow[t]{2}{*}{ Conversion } & 1.200 & $ & 21.50 & & 25,800 & & \\ \hline & & & & & & & 39,400 \\ \hline Total costs accounted for & & & & & & $ & 388,000 \\ \hline \end{tabular} Using the results from part 2 and the available information, make computations and prepare journal entries to record the following: f. Total costs transferred to finished goods for July. 9. Sale of finished goods costing $290,700 for $675,000 in cash. Major League Bat Company manufactures baseball bats. In addition to its work in process inventories, the company maintains inventories of raw materials and finished goods. It uses raw materials as direct materials in production and as indirect materials. Its factory payroll costs include direct labor for production and indirect labor. All materials are added at the beginning of the process, and conversion costs are applied uniformly throughout the production process. Required: You are to maintain records and produce measures of inventories to reflect the July events of this company. The June 30 balances: Raw Materials Inventory, $29,000; Work in Process Inventory, $7,835 (\$3,160 of direct materials and $4,675 of conversion); Finished Goods Inventory, \$100,000; Sales, \$0; Cost of Goods Sold, \$0; Factory Payroll Payable, \$0; and Factory Overhead, \$0. 1. Prepare journal entries to record the following July transactions and events. a. Purchased raw materials for $165,000 cash. b. Used raw materials as follows; direct materials, $58,040; and indirect materials, $15,000. c. Recorded factory wages payable costs as follows: direct labor, $214,750; and indirect labor, $30,000, d. Incurred other actual factory overhead costs of $62,375 paid in cash. e. Applled foctory overhead to production at 50% of direct labor costs. \begin{tabular}{|c|c|c|c|c|c|} \hline & No & Transaction & General Journal & Debit & Credit \\ \hline \multirow[t]{2}{*}{1} & 1 & a. & Raw materials inventory & 165,000 & \\ \hline & & & Cash & & 165,000 \\ \hline & 2 & b1. & Work in process inventory & 58,040 & \\ \hline & & & Raw materials inventory & T & 58,040 \\ \hline & & & + & & \\ \hline \multirow{3}{*}{1} & 3 & b2 & Factory overhead & 15,000 & 40 \\ \hline & & & Raw materials inventory & & 15,000 \\ \hline & & & E & & \\ \hline \multirow[t]{2}{*}{/} & 4 & c1. & Work in process inventory & 214,750 & \\ \hline & & & Factory wages payable & & 214,750 \\ \hline \multirow[t]{3}{*}{1} & 5 & c2. & Factory overhead & 30,000 & \\ \hline & & & Factory wages payable & & 30,000 \\ \hline & & & & & \\ \hline \multirow{2}{*}{7} & 6 & d. & Factory overhead & 62,375 & \\ \hline & & & Cash & & 62,375 \\ \hline \multirow[t]{2}{*}{1} & 7 & e. & Work in process inventory & 107,375 & \\ \hline & & & Factory overhead & & 107,375 \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline \multicolumn{3}{|c|}{ Sales } & \begin{tabular}{l} Account \\ Number 413 \end{tabular} & \multicolumn{3}{|c|}{ Cost of Goods Sold } & \begin{tabular}{c} Account \\ Number 502 \end{tabular} \\ \hline Date & Debit & Credit & Balance & Date & Debit & Credit & Balance \\ \hline & & & & & & & \\ \hline \multicolumn{8}{|l|}{} \\ \hline \\ \hline \multicolumn{3}{|c|}{ Factory Overhead } & \begin{tabular}{c} Account \\ Number 540 \end{tabular} & & & & 1 \\ \hline Date. & Debit & Credit & Balance & & & & \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline & & & & & & & \\ \hline \end{tabular} 2. Information about the July work in process (WIP) inventory follows. Use this information with that from part 1 to prepare a production cost report, assuming the weighted overage method is used. 3. Using the results from part 2 and the avallable information, make computations and prepore joumal entries to record the following: f. Total costs transferred to finished goods for July. 9. Sale of finished goods costing $290,700 for $675,000 in cash. 4. Post entries from parts 1 and 3 to the following general ledger accounts. 5. Compute the amount of gross profit from the sales in July. Complete this question by entering your answers in the tabs below. Post entries from parts 1 and 3 to the following general ledger accounts. \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline \multicolumn{8}{|l|}{ Unit reconciliation: } \\ \hline \multicolumn{8}{|l|}{ Units to account for: } \\ \hline Beginning work in process & 8,000 & & & & & & \\ \hline Units started this period & 10,000 & & & & & & \\ \hline Total units to account for & 18,000 & & & & & & \\ \hline \multicolumn{8}{|l|}{ Units accounted for: } \\ \hline Completed and transferred out & 14,000 & & & & & & \\ \hline Ending work in process & 4,000 & & & & & & \\ \hline Total units accounted for & 18,000 & & & & & & \\ \hline \multicolumn{8}{|l|}{ Equivalent units of production (EUP) } \\ \hline & \multirow{2}{*}{ Units } & \multicolumn{3}{|c|}{ Direct Materials } & \multicolumn{3}{|c|}{ Conversion } \\ \hline & & \% Complete & & EUP & % Complete & & EUP \\ \hline Completed and transferred out & 14,000 & 100% & & 14,000 & 100% & & 14,000 \\ \hline Ending work in process & 4,000 & 100% & & 4,000 & 30% & & 1,200 \\ \hline Equivalent Units of Production & 18,000 & & & 18,000 & & & 15,200 \\ \hline Cost per equivalent unit of production & & \multicolumn{3}{|c|}{ Direct Materials } & \multicolumn{3}{|c|}{ Conversion } \\ \hline Cost of beginning work in process & & & $ & 3,160 & & $ & 4,675 \\ \hline Costs added this period & & & & 58,040 & & & 322,125 \\ \hline Total costs & & Costs & $ & 61,200 & Costs & $ & 326,800 \\ \hline Equivalent units of production & & EUP & & 18,000 & EUP & & 15,200 \\ \hline \multicolumn{3}{|c|}{ Cost per equivalent unit of production (rounded to 2 decimals) } & $ & 3.40 & & $ & 21.50 \\ \hline \end{tabular}
