PLEASE HELP WITH T-ACCOUNTS AND REQUIREMENT 8: THE ADJUSTED COST OF GOODS SOLD IS CORRECT BUT I DID VERIFICATION MY INPUTS ARE CORRECT

& FOR REQUIRMENT 9, THE NET INCOME FROM OPERATIONS HAS TO BE $7000.

PLEASE HELP WITH T-ACCOUNTS AND REQUIREMENT 8: THE ADJUSTED COST OF GOODS SOLD IS CORRECT BUT I DID VERIFICATION MY INPUTS ARE CORRECT

& FOR REQUIRMENT 9, THE NET INCOME FROM OPERATIONS HAS TO BE $7000.

Sampson Company uses a job order cost system with overhead applied to products based on direct labor hours. Based on previous history, the company estimated its total overhead for the coming year to be $720,000 and its total direct labor hours to be 24,000 . On January 1 the general ledger of Sampson Company revealed that it had one job in process (Job 102) for which it had incurred a total cost of $15,000. Job 101 had been finished the previous month for a total cost of $30,000 but was not yet sold. The company had a contract for Job 103 but had not started working on it yet. Other balances in Raw Materials Inventory and other assets, liabilities, and stockholders' equity accounts are summarized below. Requirement 8: Sampson Company Cost of Goods Manufactured and Sold \begin{tabular}{|l|r|} \hline Beginning Raw materials Inventory & $10,000 \\ \hline Plus: Materials Purchased & 10,000 \\ Less: Raw Materials & 11,000 \\ Less: Indirect Materials & 2,000 \\ \hline Direct Materials Used In Production & 7,000 \\ \hline Direct Labor Cost & 10,000 \\ Manufacturing Overhead Applied & 15,000 \\ \hline Total Current Manufacturing Costs & 32,000 \\ \hline Work In Progress & 15,000 \\ \hline Total Work in Progress & $47,000 \\ \hline Cost of Goods Manufactured & 32,000 \\ \hline Finished Goods & 30,000 \\ \hline Unadjust Cost of Goods Sold & $0,000 \\ \hline Under Applied Overhead & 7,000 \\ \hline Adjusted Cost of Goods Sold & 37,000 \\ \hline \hline \end{tabular} Requirement 9: Sampson Company Income Statement Sales Revenue Less: Cost of Goods Sold Gross Profit Less: General \& Admin Cost Net Income from Operations \begin{tabular}{rr} $55,000 \\ 31,000 \\ \hline$24,000 \\ 6,000 \\ \hline$18,000 \\ \hline \hline \end{tabular} Sampson Company uses a job order cost system with overhead applied to products based on direct labor hours. Based on previous history, the company estimated its total overhead for the coming year to be $720,000 and its total direct labor hours to be 24,000 . On January 1 the general ledger of Sampson Company revealed that it had one job in process (Job 102) for which it had incurred a total cost of $15,000. Job 101 had been finished the previous month for a total cost of $30,000 but was not yet sold. The company had a contract for Job 103 but had not started working on it yet. Other balances in Raw Materials Inventory and other assets, liabilities, and stockholders' equity accounts are summarized below. Requirement 8: Sampson Company Cost of Goods Manufactured and Sold \begin{tabular}{|l|r|} \hline Beginning Raw materials Inventory & $10,000 \\ \hline Plus: Materials Purchased & 10,000 \\ Less: Raw Materials & 11,000 \\ Less: Indirect Materials & 2,000 \\ \hline Direct Materials Used In Production & 7,000 \\ \hline Direct Labor Cost & 10,000 \\ Manufacturing Overhead Applied & 15,000 \\ \hline Total Current Manufacturing Costs & 32,000 \\ \hline Work In Progress & 15,000 \\ \hline Total Work in Progress & $47,000 \\ \hline Cost of Goods Manufactured & 32,000 \\ \hline Finished Goods & 30,000 \\ \hline Unadjust Cost of Goods Sold & $0,000 \\ \hline Under Applied Overhead & 7,000 \\ \hline Adjusted Cost of Goods Sold & 37,000 \\ \hline \hline \end{tabular} Requirement 9: Sampson Company Income Statement Sales Revenue Less: Cost of Goods Sold Gross Profit Less: General \& Admin Cost Net Income from Operations \begin{tabular}{rr} $55,000 \\ 31,000 \\ \hline$24,000 \\ 6,000 \\ \hline$18,000 \\ \hline \hline \end{tabular}