Jan. 30 Paid Casper Corporation the amount due from the January 20 purchase. Jan. 30 Applied $5,980.00 of Direct Materials to job #350. Jan. 30 Applied $11,242.00 of Direct Labor to Job #350. Jan. 30 Applied factory overhead to Job #350. Jan. 30 Transferred the completed job #350 to the Finished Goods account Jan. 31 Sold and shipped Job #350 to Lawson Corporation. Jan. 31 Paid All Power and Light Company $3,160.00 for heat, power, and light. Allocate 25% for the office facilities and 75% for the factory facilities. Jan. 31 Applied $5,540.00 of Direct Materials to job #354 Jan. 31 Applied $12,257.00 of direct labor to Job #354. Jan. 31 Applied factory overhead to Job #354. Jan. 31 Record the insurance expense for January. The prepaid insurance is for 10 months: Factory 75% General 25% Jan. 31 The inventory of office supplies shows that $1,670.00 of supplies were on hand. Jan. 31 Depreciation for the month is $1,120.00 for the Factory Equipment and $380.00 for the Office Equipment Jan. 31 Amortization of the patents for the month is $390.00. (Debit Factory Overhead) Jan. 31 Close the overapplied or underapplied factory overhead to Cost of Goods Sold. CHART OF ACCOUNTS Cash |Accounts Receivable Allowance for Doubtful Accounts Prepaid Insurance Office Supplies Inventory: Raw Materials Inventory: Work in Process Inventory: Finished Goods Inventory: Factory Overhead Office Equipment Accumulated Depreciation Office Equip Factory Equipment Accumulated Depreciation-Factory Equip Patents Accounts Payable Income Tax Payable Salaries Payable Common Stock PIC in Excess of Par - Common Stock Retained Earnings Sales Sales Discounts Cost of Goods Sold Advertising Expense Depreciation Expense-Office Equip Utility Expense Insurance Expense Office Supplies Expense Rent Expense Jan. 30 Paid Casper Corporation the amount due from the January 20 purchase. Jan. 30 Applied $5,980.00 of Direct Materials to job #350. Jan. 30 Applied $11,242.00 of Direct Labor to Job #350. Jan. 30 Applied factory overhead to Job #350. Jan. 30 Transferred the completed job #350 to the Finished Goods account Jan. 31 Sold and shipped Job #350 to Lawson Corporation. Jan. 31 Paid All Power and Light Company $3,160.00 for heat, power, and light. Allocate 25% for the office facilities and 75% for the factory facilities. Jan. 31 Applied $5,540.00 of Direct Materials to job #354 Jan. 31 Applied $12,257.00 of direct labor to Job #354. Jan. 31 Applied factory overhead to Job #354. Jan. 31 Record the insurance expense for January. The prepaid insurance is for 10 months: Factory 75% General 25% Jan. 31 The inventory of office supplies shows that $1,670.00 of supplies were on hand. Jan. 31 Depreciation for the month is $1,120.00 for the Factory Equipment and $380.00 for the Office Equipment Jan. 31 Amortization of the patents for the month is $390.00. (Debit Factory Overhead) Jan. 31 Close the overapplied or underapplied factory overhead to Cost of Goods Sold. CHART OF ACCOUNTS Cash |Accounts Receivable Allowance for Doubtful Accounts Prepaid Insurance Office Supplies Inventory: Raw Materials Inventory: Work in Process Inventory: Finished Goods Inventory: Factory Overhead Office Equipment Accumulated Depreciation Office Equip Factory Equipment Accumulated Depreciation-Factory Equip Patents Accounts Payable Income Tax Payable Salaries Payable Common Stock PIC in Excess of Par - Common Stock Retained Earnings Sales Sales Discounts Cost of Goods Sold Advertising Expense Depreciation Expense-Office Equip Utility Expense Insurance Expense Office Supplies Expense Rent Expense