Prepare a Cost of Goods manufacturing statement, the cost of goods sold statement and the manufacturing income statement for Taras Taffey for August 2017, based on the following information:

Selling, General and Administrative expenses $2,000,000

Beginning finished goods inventory $200,000

Direct labor $400,000

Factory depreciation$60,000

Ending work in process inventory $100,000

Raw materials purchases $200,000

Indirect materials $10,000

Sales $5,000,000

Factory utilities $20,000

Indirect labor $50,000

Ending raw materials inventory $100,000

Ending finished goods inventory $100,000

Factory rent $40,000

Beginning raw materials inventory $120,000

Factory Insurance $20,000

Beginning work in process inventory $200,000.

2. Gillians Gems uses a job order costing system On March 1, 2017 Ben Affleck ordered a gold bracelet:

3-1 Factory orders 20 ounces of gold from the warehouse. The gold cost $400 per ounce.

3-2/3-8: The factory works on the bracelet:

Direct labor charged 50 hours at $30 per hour

Manufacturing overhead is charged to jobs based on direct labor hours. The predetermined overhead rate is $20 per direct labor hours.

3-9: The bracelet is completed and sent to the storeroom.

3-10: The bracelet is delivered to Ben Affleck and he is billed $30,000.

Required: Prepare the appropriate journal entries and post them to the ledger.

3. Dellas Donuts uses a process order system.

Beginning Work in Process Inventory (June 1st) 100,000

Donuts placed in process (6/1 through 6/30) 800,000

Ending Work in process inventory (6/30) 200,000

The ending work in process inventory is 100 % complete as to direct materials and 40 % complete as to direct labor and manufacturing overhead.

Production Costs for June:

Direct Material $20,000

Direct Labor $10,000

Manufacturing Overhead $5,000.

Required: Calculate the manufacturing cost per donut for June.