Part B is correct by the way
Check my work 1 10 points Walton Corporation builds sailboats. On January 1, Year 3, the company had the following account balances: $80,000 for both cash and common stock. Bost 25 was started on February 10 and finished on May 31. To build the boat, Walton had incurred cash costs of $6,100 for labor and $6,000 for materials. During the same period, Walton paid $11,520 cash for actual manufacturing overhead costs The company expects to incur $256,500 of indirect overhead cost during Year 3. The overhead is allocated to jobs based on direct labor cost. The expected total labor cost for the year is $135,000. Walton uses a just-in-time inventory management system. Consequently, it does not have raw materials inventory, Raw materials purchases are recorded directly in the Work In Process Inventory account Required a. Use the horizontal financial statements model to record Walton's business events. The first row shows beginning balances b. If Walton desires to earn a profit equal to 30 percent of cost. for what price should it sell the boat? c. If the boat is not sold by year-end, what amount would appear in the Work In Process Inwentory and Finished Goods Inventory on the balance sheet for Boat 257 d. Is the amount of inventory you calculated in Requirement the actual or the estimated cost of the boat? Hi ferences Complete this question by entering your answers in the tabs below. Required A Required B Required Required Use the horizontal financial statements model, to record Walton's business vents. The row shows beginning balances. (anat round Inter Enter any decreases to account balances with a minus sign) Income Statement Balance Sheet Assets Finished Manufacturing Equity Common Retained Net Work in Reven Cash Expen PRO 1 of 2 DIE Next > c. If the boat is not sold by year-end, what amount would appear in the Work in Process Inventory and Finished Goods Inventory on the balance sheet for Boat 25? d. Is the amount of inventory you calculated in Requirement cthe actual or the estimated cost of the boat? Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Use the horizontal financial statements model, to record Walton's business events. The first row shows beginning balances. (Do not round inte Enter any decreases to account balances with a minus sign.) Income Statement Balance Sheet Assets Finished Manufacturing Goods Overhead Work in Process Cash Equity Common Retained Stock earnings 80,000+ Net Income Revenue - Expense . 80,000 + + . + + 0 O 80.000 01 + 0 80,000 Required Check my work purchases are recorded directly in the Work in Process Inventory account Required a. Use the horizontal financial statements model, to record Walton's business events. The first row shows beginning balances b. If Walton desires to earn a profit equal to 30 percent of cost, for what price should it sell the boat? c. the boat is not sold by year-end, what amount would appear in the Work In Process Inventory and Finished Goods Inventory on the balance sheet for Boat 25? d. Is the amount of inventory you calculated in Requirement cthe actual or the estimated cost of the boat? Complete this question by entering your answers in the tabs below. Required A Required B Required Required D If Walton desires to earn a profit equal to 30 percent of cost, for what price should it sell the boat? (Do not round Intermediate calculations. Round your final answer to 2 decimal places) Desired price $ 30,797.00 purchases are recorded directly in the Work in Process Inventory account. Required a. Use the horizontal financial statements model, to record Walton's business events. The first row shows beginning balances. b. Walton desires to earn a profit equal to 30 percent of cost, for what price should it sell the boat? c. If the boat is not sold by year-end, what amount would appear in the Work in Process Inventory and Finished Goods Inventory on the balance sheet for Boat 25? d. Is the amount of inventory you calculated in Requirement cthe actual or the estimated cost of the boat? Complete this question by entering your answers in the tabs below. Required A Required B Required Required D Is the amount of inventory you calculated in Requirement the actual or the estimated cost of the boat? The amount of inventory
