Need journal entries and T accounts

ACCT 102 Group Project Transactions & Instructions Wonderama Playgrounds, Inc, manufactures playground equipment for parks and schools. Their business year is the calendar year and they use a job-order cost system for inventory and sales. Wonderama Playgrounds, Inc. manufactures all products in a single production department. An individual job-order cost sheet is maintained for each job. The job-order cost sheet contains accumulated costs for each job, including actual direct materials, actual direct labor, and applied factory overhead. Factory overhead is applied to each job based on 125% of direct labor costs for that job. Wonderama Playgrounds, Inc, marks up all work by 40% of the job cost (sales price total cost of job x 140%). Since Wonderama Playgrounds, Inc. sells to builders, contractors, school districts and schools, all sales are exempt from state sales tax. All sales are on account and are subject to terms of 2/10, net 30 days, FOB Shipping Point Accounts Payable is used solely for the purchase of direct materials, indirect materials, and factory supplies. All vendors expect full payment within 30 days. Operating expenses, with the exception of any accrued salaries, property taxes, and income taxes, are paid when incurred; all employees are paid at the end of the month. All cash is deposited in the bank when received and all payments are made by check Following are the transactions for Wonderama Playgrounds, Inc. for January 2020: Jan. 2 Paid Larchmont Advertising Agency $1,363 for designing advertisements to appear in local newspapers in January. Paid Princely Properties $4,250 for the January rent of this amount, 30% is for the office facilities and 70% is for the factory facilities. Received $30,200.00 on account from customers (no discount allowed) Jan. 4 Jan. 5 Sold Job #349, which was finished in December 2019 at a total cost of $39,800, to Happy Jacks Preschool. Received a check from Lawson Corporation for the amount due. Payment was received within the discount period. (Balance due: $9.420.00) Jan. 9 Paid Nogood Wood Products $8,562.40 in payment of their January 1 balance. Jan. 12 Collected the amount due from Happy Jacks Preschool for the sale on Jan. 5. Jan. 13 Paid Sorenson Plastics Company $12,925.00 in payment on account. Jan. 15 Applied $3,860.00 of direct materials to Job #351 Jan. 15 Applied $10,380.00 of direct labor to Job #351 Jan. 15 Jan. 15 Applied factory overhead to Job #351. Transferred the completed job #351 to Finished Goods. Received $35,250.00 on account from customers (no discount allowed). Jan. 16 lin. 17 Sold and shipped Job #351 to the Smart Contractors. Wonderama Playgrounds, Inc. uses a perpetual inventory system. Jan. 18 Purchased $6,329.00 of indirect materials and factory supplies to be used in the manufacture of all jobs currently in process, terms Net 30 days. (Hint: charge directly to Factory Overhead) Jan. 20 Accepted a job for the manufacture of a plaveround unit for Breakwater Unified School District. February 14 is the promised completion date. Began the job today by applying $5.986.00 of direct materials to Job #354. Jan. 20 Purchased from Casper Corporation $3,658.72 of indirect factory supplies, credit terms, net 15 days. (Hint: charge directly to Factory Overhead) Jan. 21 Received a check for $9,890.00 from Sundial Corporation for the amount due, no discount allowed. Applied S4,765.00 of direct materials to Job #350. Jan. 23 Jan. 23 Received a check for $9.046.00 from Everest Company for the amount due after the discount period has expired. Applied $2,359.72 of direct materials to job #352. Applied $1,586.00 of Direct Labor to Job #352. Applied factory overhead to Job #352. Transferred the completed job 352 to the Finished Goods account. Applied $4,683.87 of direct materials to job #353. Applied $3,168.00 of Direct Labor to Job #353. Applied factory overhead to Job #353. Transferred the completed job #353 to the Finished Goods account. Jan. 27 Jan. 27 Jan. 29 Received the amount due from Smart Contractors from the sale on Jan. 17. Sold and shipped Job #353 to the Grace Angelina Company. Jan. 30 Paid Casper Corporation the amount due from the January 20 purchase. Applied $5,980.00 of Direct Materials to job#350. Jan. 30 Jan. 30 Applied $11,242.00 of Direct Labor to Job #350. Jan. 30 Applied factory overhead to Job #350. Transferred the completed job #350 to the Finished Goods account Sold and shipped Job 1350 to Lawson Corporation. Jan. 31 Paid All Power and Light Company S3,160.00 for heat, power, and light. Allocate 25% for the office facilities and 75% for the factory facilities Jan. 31 Applied S5,540.00 of Direct Materials to job #354 Applied $12,257.00 of direct labor to Job #354. Jan. 31 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 S1,120.00 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) Close the overapplied or underapplied factory overhead to Cost of Goods Sold Jan. 31 ACCT 102 Group Project Transactions & Instructions Wonderama Playgrounds, Inc, manufactures playground equipment for parks and schools. Their business year is the calendar year and they use a job-order cost system for inventory and sales. Wonderama Playgrounds, Inc. manufactures all products in a single production department. An individual job-order cost sheet is maintained for each job. The job-order cost sheet contains accumulated costs for each job, including actual direct materials, actual direct labor, and applied factory overhead. Factory overhead is applied to each job based on 125% of direct labor costs for that job. Wonderama Playgrounds, Inc, marks up all work by 40% of the job cost (sales price total cost of job x 140%). Since Wonderama Playgrounds, Inc. sells to builders, contractors, school districts and schools, all sales are exempt from state sales tax. All sales are on account and are subject to terms of 2/10, net 30 days, FOB Shipping Point Accounts Payable is used solely for the purchase of direct materials, indirect materials, and factory supplies. All vendors expect full payment within 30 days. Operating expenses, with the exception of any accrued salaries, property taxes, and income taxes, are paid when incurred; all employees are paid at the end of the month. All cash is deposited in the bank when received and all payments are made by check Following are the transactions for Wonderama Playgrounds, Inc. for January 2020: Jan. 2 Paid Larchmont Advertising Agency $1,363 for designing advertisements to appear in local newspapers in January. Paid Princely Properties $4,250 for the January rent of this amount, 30% is for the office facilities and 70% is for the factory facilities. Received $30,200.00 on account from customers (no discount allowed) Jan. 4 Jan. 5 Sold Job #349, which was finished in December 2019 at a total cost of $39,800, to Happy Jacks Preschool. Received a check from Lawson Corporation for the amount due. Payment was received within the discount period. (Balance due: $9.420.00) Jan. 9 Paid Nogood Wood Products $8,562.40 in payment of their January 1 balance. Jan. 12 Collected the amount due from Happy Jacks Preschool for the sale on Jan. 5. Jan. 13 Paid Sorenson Plastics Company $12,925.00 in payment on account. Jan. 15 Applied $3,860.00 of direct materials to Job #351 Jan. 15 Applied $10,380.00 of direct labor to Job #351 Jan. 15 Jan. 15 Applied factory overhead to Job #351. Transferred the completed job #351 to Finished Goods. Received $35,250.00 on account from customers (no discount allowed). Jan. 16 lin. 17 Sold and shipped Job #351 to the Smart Contractors. Wonderama Playgrounds, Inc. uses a perpetual inventory system. Jan. 18 Purchased $6,329.00 of indirect materials and factory supplies to be used in the manufacture of all jobs currently in process, terms Net 30 days. (Hint: charge directly to Factory Overhead) Jan. 20 Accepted a job for the manufacture of a plaveround unit for Breakwater Unified School District. February 14 is the promised completion date. Began the job today by applying $5.986.00 of direct materials to Job #354. Jan. 20 Purchased from Casper Corporation $3,658.72 of indirect factory supplies, credit terms, net 15 days. (Hint: charge directly to Factory Overhead) Jan. 21 Received a check for $9,890.00 from Sundial Corporation for the amount due, no discount allowed. Applied S4,765.00 of direct materials to Job #350. Jan. 23 Jan. 23 Received a check for $9.046.00 from Everest Company for the amount due after the discount period has expired. Applied $2,359.72 of direct materials to job #352. Applied $1,586.00 of Direct Labor to Job #352. Applied factory overhead to Job #352. Transferred the completed job 352 to the Finished Goods account. Applied $4,683.87 of direct materials to job #353. Applied $3,168.00 of Direct Labor to Job #353. Applied factory overhead to Job #353. Transferred the completed job #353 to the Finished Goods account. Jan. 27 Jan. 27 Jan. 29 Received the amount due from Smart Contractors from the sale on Jan. 17. Sold and shipped Job #353 to the Grace Angelina Company. Jan. 30 Paid Casper Corporation the amount due from the January 20 purchase. Applied $5,980.00 of Direct Materials to job#350. Jan. 30 Jan. 30 Applied $11,242.00 of Direct Labor to Job #350. Jan. 30 Applied factory overhead to Job #350. Transferred the completed job #350 to the Finished Goods account Sold and shipped Job 1350 to Lawson Corporation. Jan. 31 Paid All Power and Light Company S3,160.00 for heat, power, and light. Allocate 25% for the office facilities and 75% for the factory facilities Jan. 31 Applied S5,540.00 of Direct Materials to job #354 Applied $12,257.00 of direct labor to Job #354. Jan. 31 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 S1,120.00 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) Close the overapplied or underapplied factory overhead to Cost of Goods Sold Jan. 31