QUESTION $1.$

Account balances from Jolly B Manufacturing Company's accounting records for the month ended December $31,2022$ appear below:

Finished Goods Inventory, December $31$

Factory Supervisory Salaries

Income Tax Expense

Raw Materials Inventory, December $1$

Work in process Inventory, December $31$

Sales Salaries Expense

$$75,350$

Factory Depreciation Expense

$80,000$

$40,000$

$16,500$

$57,000$

Finished Goods Inventory, December $1$

$25,000$

Raw Materials Purchases

$5,400$

Work in process Inventory, December $1$

$32,400$

Factory Utilities Expense.

$475,000$

Direct Labour

$72,000$

Raw Materials Inventory, December $31$

$5,700$

$130,000$

Sales Returns and Allowances.

$23,000$

Indirect Labour.

$15,700$

Instructions

Prepare the cost of goods manufactured schedule for Jolly B Manufacturing Company for the month ended December $31,2022.$

QUESTION $2$

A$.$ Johnson Company makes stainless steel plates for the refining industries. For Job $123$ it put $40,000$ units into production and the total cost of producing this job was $$200,000.$ On August $31,$ Job $123$ is sold to the customer for $$230,000$ in cash.

Instructions

Journalize the entries for the completion and sale of the job.