Ravsten Compariy uses a jobiordet casting system, On darusary t, the beginning of the curneri yeac the comparm/s inventory balinces Wererars faliaws The campany appeles oveibead cost to jobs gn the hasis of machise-hour. For the ciarent wat ine compory eslinsated fhat it would Yisat: a. Raw materlak were puichased on occoumt $200000 c. The following fosts were incurted for mingloye services a. Heat power, and water costs wecte incumed in the foctory: 542.000. activities) 1. Alfvertising costs were incurred, $50000. activitiest. t. Advertising costs were incurred, 550,000 9. Depreclation wos recorded for the year $60.000(85$ retases to factory operations, and 158 retates to seilhng and adaileistrative activilies) h. Manufactusing oveitiead cost was apelied to prodictlon. The comparry recorded 40000 machine hours for the your. 1. Soods that cost $480,000 to mannafacture according to thein job cost sthets were transerred to ihe finkhed goods warehouse 1 Sales for the year totaled $700.000 and weie all on account The total cost to manufictare these poods according to iheir pob cost sheets was $47,000. Required: 1. Prepare joumal entiles to record the transactions given above. (Do not reund intermediste coleuletions, If no enty is required for a transoction/event, select "No journal entry required" in the first accoumt field) Natei Entar detirts beture reoss. 2. Pepare Taccounts for irventoaies. Manufacturing Overhead, and Cos of Goods Sold. Roat refevarit dista from your journa entifes ucegurt 3-6. Is mnufactuing ovetheod inderappited on overappled for the year? Underapplied overhead Overopplied ovenead 3-b. Prepare a journit entry to propety dspose of any bulance in the Manutacfuning Overhesd account. (Round your perctrtages. and final answers to 2 decimal places. If no entry is required for a Mansactionitevent, select 'No jourral entry required' in the first. account field.) Journal entry worksheet Recand the entry to preperif, dicooen of any balmce in the Manulactiming Cvertuon account. Footri fite detits telukrttedm 4. Prepare an income statement for the year. (Do not round intermediate caleulttipns and round your finel answers to neeras Whole doller amotint. 4. Prepare an income statement for the year. (Do not round imtermediete calculations ond round your final antwers to neares? Whole dollar amburt.) Ravsten Compariy uses a jobiordet casting system, On darusary t, the beginning of the curneri yeac the comparm/s inventory balinces Wererars faliaws The campany appeles oveibead cost to jobs gn the hasis of machise-hour. For the ciarent wat ine compory eslinsated fhat it would Yisat: a. Raw materlak were puichased on occoumt $200000 c. The following fosts were incurted for mingloye services a. Heat power, and water costs wecte incumed in the foctory: 542.000. activities) 1. Alfvertising costs were incurred, $50000. activitiest. t. Advertising costs were incurred, 550,000 9. Depreclation wos recorded for the year $60.000(85$ retases to factory operations, and 158 retates to seilhng and adaileistrative activilies) h. Manufactusing oveitiead cost was apelied to prodictlon. The comparry recorded 40000 machine hours for the your. 1. Soods that cost $480,000 to mannafacture according to thein job cost sthets were transerred to ihe finkhed goods warehouse 1 Sales for the year totaled $700.000 and weie all on account The total cost to manufictare these poods according to iheir pob cost sheets was $47,000. Required: 1. Prepare joumal entiles to record the transactions given above. (Do not reund intermediste coleuletions, If no enty is required for a transoction/event, select "No journal entry required" in the first accoumt field) Natei Entar detirts beture reoss. 2. Pepare Taccounts for irventoaies. Manufacturing Overhead, and Cos of Goods Sold. Roat refevarit dista from your journa entifes ucegurt 3-6. Is mnufactuing ovetheod inderappited on overappled for the year? Underapplied overhead Overopplied ovenead 3-b. Prepare a journit entry to propety dspose of any bulance in the Manutacfuning Overhesd account. (Round your perctrtages. and final answers to 2 decimal places. If no entry is required for a Mansactionitevent, select 'No jourral entry required' in the first. account field.) Journal entry worksheet Recand the entry to preperif, dicooen of any balmce in the Manulactiming Cvertuon account. Footri fite detits telukrttedm 4. Prepare an income statement for the year. (Do not round intermediate caleulttipns and round your finel answers to neeras Whole doller amotint. 4. Prepare an income statement for the year. (Do not round imtermediete calculations ond round your final antwers to neares? Whole dollar amburt.)
