Jordan Corporation began fiscal Year 2 with the following balances in its inventory accounts. Raw Materials...

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Jordan Corporation began fiscal Year 2 with the following balances in its inventory accounts. Raw Materials Work in Process $55,700 Finished Goods 82,700 27,600 During the accounting period, Jordan purchased $239,800 of raw materials and issued $248,100 of materials to the production department. Direct labor costs for the period amounted to $322,400, and manufacturing overhead of $47,000 was applied to Work in Process Inventory. Assume that there was no over- or underapplied overhead. Goods costing $610,300 to produce were completed and transferred to Finished Goods Inventory. Goods costing $601,600 were sold for $801,600 during the period. Selling and administrative expenses amounted to $71,000. Required a. Determine the ending balance of each of the three inventory accounts that would appear on the year-end balance sheet. b. Prepare a schedule of cost of goods manufactured and sold and an income statement. Complete this question by entering your answers in the tabs below. Req A Req B CGM Sched Req B Inc Stmt Determine the ending balance of each of the three inventory accounts that would appear on the year-end balance sheet. Ending Balance Raw materials Work in process Finished goods Jordan Corporation began fiscal Year 2 with the following balances in its inventory accounts. Raw Materials Work in Process $55,700 Finished Goods 82,700 27,600 During the accounting period, Jordan purchased $239,800 of raw materials and issued $248,100 of materials to the production department. Direct labor costs for the period amounted to $322,400, and manufacturing overhead of $47,000 was applied to Work in Process Inventory. Assume that there was no over- or underapplied overhead. Goods costing $610,300 to produce were completed and transferred to Finished Goods Inventory. Goods costing $601,600 were sold for $801,600 during the period. Selling and administrative expenses amounted to $71,000. Required a. Determine the ending balance of each of the three inventory accounts that would appear on the year-end balance sheet. b. Prepare a schedule of cost of goods manufactured and sold and an income statement. Complete this question by entering your answers in the tabs below. Req A Req B CGM Sched Req B Inc Stmt Determine the ending balance of each of the three inventory accounts that would appear on the year-end balance sheet. Ending Balance Raw materials Work in process Finished goods