Question Content Area Journal Entries, T$-$Accounts, Cost of Goods Manufactured and Sold

During May, the following transactions were completed and reported by Sylvana Company:

a$.$ Materials purchased on account, $$60,200.$

b$.$ Materials issued to production to fill job$-$order requisitions: direct materials, $$50,000$; indirect materials, $$8,800.$

c$.$ Payroll for the month: direct labor, $$75,000$; indirect labor, $$35,000$; administrative, $$28,000$; sales, $$19,000.$

d$.$ Depreciation on factory plant and equipment, $$10,400.$

e$.$ Property taxes on the factory accrued during the month, $$1,450.$

f$.$ Insurance on the factory expired with a credit to the prepaid insurance account, $$6,200.$

g$.$ Factory utilities, $$5,500.$

h$.$ Advertising paid with cash, c$.$

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Journal Entries, T$-$Accounts, Cost of Goods Manufactured and Sold

During May, the following transactions were completed and reported by Sylvana Company:

Materials purchased on account, $$60,200.$

Materials issued to production to fill job$-$order requisitions: direct materials, $$50,000$; indirect materials, $$8,800.$

Payroll for the month: direct labor, $$75,000$; indirect labor, $$35,000$; administrative, $$28,000$; sales, $$19,000.$

Depreciation on factory plant and equipment, $$10,400.$

Property taxes on the factory accrued during the month, $$1,450.$

Insurance on the factory expired with a credit to the prepaid insurance account, $$6,200.$

Factory utilities, $$5,500.$

Advertising paid with cash, $$7,900.$

Depreciation on office equipment, $$800$; on sales vehicles, $$1,650.$

Legal fees incurred but not yet paid for preparation of lease agreements, $$750.$

Overhead is charged to production at a rate of $$18$ per direct labor hour. Records show $4,000$ direct labor hours were worked during the month.

Cost of jobs completed during the month, $$160,000.$

The company also reported the following beginning balances in its inventory accounts:

Materials Inventory $$7,500$

Work$-$in$-$Process Inventory $37,000$

Finished Goods Inventory $50,000$

Required:

Question Content Area

$1.$ Prepare journal entries to record the transactions occurring in May. For a compound transaction, if an amount box does not require an entry, leave it blank.

a$.$

Materials

Accounts Payable

b$.$

Work in Process

Overhead Control

Materials

c$.$

Work in Process

Overhead Control

Administrative Expense

Selling Expense

Wages Payable

d$.$

Overhead Control

Accumulated Depreciation

e$.$

Overhead Control

Property Taxes Payable

f$.$

Overhead Control

Prepaid Insurance

g$.$

Overhead Control

Utilities Payable

h$.$

Selling Expense

Cash

i$.$

Administrative Expense

Selling Expense

Accounts Payable

j$.$

Administrative Expense

Accounts Payable

k$.$

Work in Process

Overhead Control

l$.$

Finished Goods

Work in Process

Question Content Area

$2.$ Prepare T$-$accounts for Materials Inventory, Overhead Control, Work$-$in$-$Process Inventory, and Finished Goods Inventory. Post the entries to the T$-$account in the same order in which they were journalized.

Materials Inventory

Balance

fill in the blank f$54429$f$8$af$8$cfab$\_2$

fill in the blank f$54429$f$8$af$8$cfab$\_4$

fill in the blank f$54429$f$8$af$8$cfab$\_6$

Balance fill in the blank f$54429$f$8$af$8$cfab$\_7$

Question Content Area

Work in Process Inventory

fill in the blank $2$bbc$03$f$65022070\_2$

fill in the blank $2$bbc$03$f$65022070\_4$

fill in the blank $2$bbc$03$f$65022070\_6$

fill in the blank $2$bbc$03$f$65022070\_8$

fill in the blank $2$bbc$03$f$65022070\_10$

Balance fill in the blank $2$bbc$03$f$65022070\_11$

Question Content Area

Finished Goods Inventory

fill in the blank $8006$d$0071$fac$021\_2$

fill in the blank $8006$d$0071$fac$021\_4$

Balance fill in the blank $8006$d$0071$fac$021\_5$

Question Content Area

Overhead Control Inventory

fill in the blank $36$ff$1$bfbb$04$ffa$6\_2$

fill in the blank $36$ff$1$bfbb$04$ffa$6\_4$

fill in the blank $36$ff$1$bfbb$04$ffa$6\_6$

fill in the blank $36$ff$1$bfbb$04$ffa$6\_8$

fill in the blank $36$ff$1$bfbb$04$ffa$6\_10$

fill in the blank $36$ff$1$bfbb$04$ffa$6\_12$

fill in the blank $36$ff$1$bfbb$04$ffa$6\_14$

Balance fill in the blank $36$ff$1$bfbb$04$ffa$6\_15$

Question Content Area

$3.$ Prepare a statement of cost of goods manufactured.

Sylvana Company

Statement of Cost of Goods Manufactured

For the Month Ended May $31,20$XX

$$-$ Select $-$

$-$ Select $-$

Overhead:

$$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

$-$ Select $-$

$fill in the blank d$6$e$029$fc$4$f$8$ef$85\_17$

$-$ Select $-$

$-$ Select $-$

Manufacturing co k$.$ Work in Process

Overhead Control

I.

Work in Process

Materials Inventory

Balance

Finished Goods Inventory Finished Goods Inventory

Overhead Control Inventory

Comp