INSTRUCTIONS: Complete the T-accounts with the information taken from the Dec 31, 2019, adjusted trial balance from the accounting records of Front Range Furniture. After completing this section proceed to the next tabs in these working papers to complete the other project requirements. HINT: Your numbers may differ from the Manufacturing Statement created in requirement #1 as you will be using a Predetermined Overhead Rate.

Use the general journal below to complete your journal entries of the cost flows shown in your T-accounts.

PARTI - COST CLASSIFICATIONS & REPORTING (chapters 18 - 20 review) You recently began an internship in the accounting department of Front Range Furniture. As your first assignment you were asked to perform a cost analysis and reporting for the year ended December 31, 2019. The following calendar year-end information is taken from the December 31, 2019, adjusted trial balance and the records of Front Range Furniture. $ 22,250 10,440 12,125 37,400 123,400 8,060 Direct Labor Income taxes expense Indirect labor Misc. Production costs Office salaries expense Raw materials purchased $ 564,500 138,700 61,000 10,440 72,875 896,375 Advertising Expense Depreciation expense - Office Equip. Depreciation expense - Selling Equip. Depreciation expense - Factory Equip. Factory supervision Factory supplies used (indirect materials) Factory utilities Inventories: Raw Materials, Dec 31, 2018 Raw Materials, Dec 31, 2019 Goods-in-Process, Dec 31, 2018 Goods-in-Process, Dec 31, 2019 Finished Goods, Dec 31, 2018 Finished Goods, Dec 31, 2019 39,500 Rent expense - office space Rent expense selling space 42,375 Rent expense - factory building 72,430 Maintenance expense - factory 14,500 Sales 16,100 Sales Discounts 179,200 Sales salaries expense 143,750 25,625 29,000 95,500 32,375 5,002,000 59,375 297,300 B D E F G . J M N O P Q Use the general journal below to complete your journal entries of the cost flows shown in your T-accounts. INSTRUCTIONS: Complete the T-accounts with the information taken from the Dec 31, 2019, adjusted trial balance from the accounting records of Front Range Furniture. After completing this section proceed to the next tabs in these working papers to complete the other project requirements. HINT: Your numbers may differ from the Manufacturing Statement created in requirement #1 as you will be using a Predetermined Overhead Rate. 1 2 3 RAW MATERIALS GOODS-IN-PROCESS FINISHED GOODS DATE DEBIT CREDIT ACCOUNT NAMES Raw Materials Inventory Accounts Payable DM COGM 4 5 6 7 8 DL FOH B Goods-in-Process Inventory Raw Materials Inventory 9 LO Factory Payroll Cash -1 List actual costs FACTORY OVERHEAD FACTORY PAYROLL COST OF GOODS SOLD D DL IL FOH -2 3 -4 5 -6 -7 .8 Goods-in-Process Inventory Factory Overhead Factory Payroll Indirect Labor Dep. Exp Factory Factory superv. Factory supplies Factory utilities Misc. Prod. Costs Factory Rent Factory Maint. E Factory Overhead Accum. Dep., Factory Cash 9 F Goods-in-Process Inventory Factory Overhead 0 G Finished Goods Inventory Goods-in-Process Inventory . 20 21 22 3 24 25 26 .7 28 29 30 1 2 3 34 35 Cost of Goods Sold Finished Goods Inventory Factory Overhead Cost of Goods Sold