Required:1. Show how all of these costs would flow thrpugh the following accounts: a.Raw Materials inventory b. Work in process inventory c. Finished good inventory d. Manufacturing Overhead e. Cost of good sold f. Sales revenue g. Nonmanufacturing Expenses 2. Assuming there were no beginnings balance in any of the accounts calculate the ending balance in the following accounts a.Work in process inventory b. Finished good inventory c.Manufacturing Overhead (ovwr/under applied) d. Cost of goods sold (after the overhead adjustment) 3. Prepare a cost of goods manufactured report for the company 4. Prepare a income statement showing the adjustment to coat of good sold.

X A B C D E F G H K L Central Pool Company builds custom swimming pools for homeowners in Toronto, Calgary, and Montreal. It uses material requisition forms and direct labor time tickets to trace direct materials and direct labor costs to specific jobs. Manufacturing overhead is applied to jobs at a rate of $100 per direct labor hour. During the first month of operations, the company recorded the following transactions: a) Purchased $200,000 in raw materials. b) Issued the following materials to production: . $130,000 was directly traceable to specific jobs. . $20,000 was not directly traceable to specific jobs. c) Recorded the following labor costs (paid in cash): . Direct labor $50,000 . Construction supervision 30,000 3 d) Recorded the following actual manufacturing overhead costs: . Construction insurance $ 5,000 15 . Construction equipment depreciation 25,000 16 . Pool permits and inspections 5,000 17 e) Recorded the following nonmanufacturing costs: 18 . Office equipment depreciation $ 3,000 19 . Rent and insurance on owner's company car 2,000 20 . Advertising costs 10,000 21 f) Applied manufacturing overhead to jobs in process based on 900 actual direct labor hours. 22 g) Completed 15 pools at a total cost of $ 195,000. 23 h) Finalized the sale of 13 pools that cost $176,000. 24 The other 2 pools are completed and awaiting inspection by the customer before the sale is finalized. 25 i) Recorded sales revenue of $325,000 on the 13 pools that were sold. 26 j) Closed the Manufacturing Overhead account balance to Cost of Goods Sold. 27