Problem DLog Cabin Homes, Inc., uses a job cost system to account for its jobs, which are prefabricated houses. As ofJanuary 1, its records showed inventories as follows:

Materials and supplies$100,000Work in process (Job Nos. 22 and 23)180,000Finished goods (Job No. 21)140,000

The work in process inventory consisted of two jobs:

Job No.Direct

materials

Direct

labor

Manufacturing

overhead

Total22$36,000$40,000$20,000$ 96,0002340,00028,00016,00084,000$180,000

Cost and sales data:

a. Materials purchased on account, $400,000.

b. Direct materials used: Job No. 22, $60,000; Job No. 23, $120,000; Job No. 24, $180,000.

c. Indirect materials used, $10,000.

d. Direct labor costs: Job No. 22, $100,000; Job No. 23, $200,000; and Job No. 24, $80,000.

e. Indirect labor costs, $80,000.

f. Overhead is assigned to jobs at $100 per machine-hour. Job No. 22 used 500 machine-hours, Job No. 23 used 1,000 machine-hours, and Job No. 24 used 300 machine-hours in January.

g. Job No. 22 and 23 were completed and transferred to Finished Goods Inventory.

h. Job No. 21 and 22 were sold on account for $1,200,000, total.

i. Manufacturing overhead costs incurred, other than indirect materials and indirect labor, were depreciation, $60,000, and heat, light, power, miscellaneous, $30,000 (to be paid next month).

Required:

1. Need assistance Calculating the ending balance in Raw Materials Inventory, Work in Process Inventory, Finished Goods Inventory, and Cost of Goods Sold.
2. Assuming selling and administrative expenses were $100,000,need assistance multi-step income statement.