I need question one answers how to setup the T-accounts.

ACCT230- Principles of Cost Accounting Portfolio Project Submission 1 Problem 1 Pullman Inc, manufactures chain hoists. The raw materials inventories on hand on October I were as follows: Chain.. Pulleys Bolts and taps Steel plates.. 12,000 lb, $24,000 .4,000 sets, $20,000 10,000 lb, $5,000 4,000 units, $2,000 The balances in the ledger accounts on October I were as follows: Cash.... Work in process. Materials 12,000 35,000 51,000 3,000 125,000 --- $ 10,500 30,000 Prepaid insurance Machinery Accumulated depreciation-machinery. Office equipment. Accumulated depreciation office equipment Office furniture... Accumulated depreciation office furniture. Accounts payable.. Capital stock. . Retained earnings 4,800 20,000 2,500 30,000 182,200 46,000 $276.000 $276.000 Transactions during October were as follows: a. Payroll recorded during the month: direct labor, $28,000; indirect labor, $3,000. b. Factory supplies purchased for cash, $1,000. (Use a separate inventory account, Factory Supplies.) c. Materials purchased on account: chain-4,000 lb, 58,800; pulleys-2,000 sets, $10,200; steel plates- 5,000 units, $3,000 4. Sales on account for the month, $126,375. e. Accounts receivable collected, $72,500. f. Materials used during October (FIFO costing): chain, 14,000 lb pulleys, 4,400 sets, bolts and taps. mich Progre BC Jour 4,000 lb; steel plates, 3,800 units. g. Payroll paid, $31,000. h. Factory supplies on hand, October 31, $350. i. Factory heat, light, and power costs for October, $3,000 (not yet paid). j. Office salaries paid, $6,000 k. Advertising paid $2,000. 1. Factory superintendence paid, $1,800. m. Expired insurance on office equipment, $100; on factory machinery, $300. n. Factory rent paid, $2,000. o. Depreciation on office equipment, $400, on office furniture, $180, on machinery, $1,200. p. Factory overhead charged to jobs, $11.950. 4. Work in Process, October 31, $31,000. r. Cost of goods sold during the month, $84,250. s. Accounts payable paid, 533,750. Required: Using Excel complete the following tasks: 1. Set up T-accounts and enter the balances as of October 1. 2. Prepare journal entries to record each of the previous transactions. 3. Post the journal entries to the accounts, setting up any new ledger accounts necessary. Only controlling accounts are to be maintained; however, show the calculation for the cost of materials used. 4. Prepare a statement of cost of goods manufactured for October. A Hit yan Barch ACCT230- Principles of Cost Accounting Portfolio Project Submission 1 Problem 1 Pullman Inc, manufactures chain hoists. The raw materials inventories on hand on October I were as follows: Chain.. Pulleys Bolts and taps Steel plates.. 12,000 lb, $24,000 .4,000 sets, $20,000 10,000 lb, $5,000 4,000 units, $2,000 The balances in the ledger accounts on October I were as follows: Cash.... Work in process. Materials 12,000 35,000 51,000 3,000 125,000 --- $ 10,500 30,000 Prepaid insurance Machinery Accumulated depreciation-machinery. Office equipment. Accumulated depreciation office equipment Office furniture... Accumulated depreciation office furniture. Accounts payable.. Capital stock. . Retained earnings 4,800 20,000 2,500 30,000 182,200 46,000 $276.000 $276.000 Transactions during October were as follows: a. Payroll recorded during the month: direct labor, $28,000; indirect labor, $3,000. b. Factory supplies purchased for cash, $1,000. (Use a separate inventory account, Factory Supplies.) c. Materials purchased on account: chain-4,000 lb, 58,800; pulleys-2,000 sets, $10,200; steel plates- 5,000 units, $3,000 4. Sales on account for the month, $126,375. e. Accounts receivable collected, $72,500. f. Materials used during October (FIFO costing): chain, 14,000 lb pulleys, 4,400 sets, bolts and taps. mich Progre BC Jour 4,000 lb; steel plates, 3,800 units. g. Payroll paid, $31,000. h. Factory supplies on hand, October 31, $350. i. Factory heat, light, and power costs for October, $3,000 (not yet paid). j. Office salaries paid, $6,000 k. Advertising paid $2,000. 1. Factory superintendence paid, $1,800. m. Expired insurance on office equipment, $100; on factory machinery, $300. n. Factory rent paid, $2,000. o. Depreciation on office equipment, $400, on office furniture, $180, on machinery, $1,200. p. Factory overhead charged to jobs, $11.950. 4. Work in Process, October 31, $31,000. r. Cost of goods sold during the month, $84,250. s. Accounts payable paid, 533,750. Required: Using Excel complete the following tasks: 1. Set up T-accounts and enter the balances as of October 1. 2. Prepare journal entries to record each of the previous transactions. 3. Post the journal entries to the accounts, setting up any new ledger accounts necessary. Only controlling accounts are to be maintained; however, show the calculation for the cost of materials used. 4. Prepare a statement of cost of goods manufactured for October. A Hit yan Barch