Reyes Manufacturing Company uses a job order cost system. At the beginning of January, the company had one job in process (Job 201) and one job completed but not yet sold (Job 200). Job 202 was started during January. Other select account balances follow (ignore any accounts that are not listed).

During January, the company had the following transactions: (a) Purchased $70,000 worth of materials on account.

(b) Recorded materials issued to production as follows:

Job Number	Total Cost
201	$	10,800
202		21,200
Indirect materials		6,500
	$	38,500

(c) Recorded factory payroll costs from direct labor time tickets that revealed the following:

Job Number	Hours	Total Cost
201	105	$	2,700
202	399		10,000
Factory supervision			5,200
		$	17,900

(d) Applied overhead to production at a rate of $30.00 per direct labor hour for 504 actual direct labor hours. (e) Recorded the following actual manufacturing overhead costs:

Item	Total Cost		Description
Factory rent	$	3,600	Paid in cash
Depreciation		4,900	Factory equipment
Factory utilities		3,600	Incurred but not paid
Factory insurance		1,900	Prepaid policy
	$	14,000

(f) Completed Job 201 and transferred it to Finished Goods Inventory.

(g) Sold Job 200 for $50,500.

Job 202 was still in process at the end of January.

Required: 1. Post the preceding transactions to T-accounts. (Note: Capture the offsetting of debits and credits to other accounts such as Cash, Payables, Accumulated Depreciation, and so on in Miscellaneous Accounts.)

Raw Materials Inventory Work in Process Inventory 37,000 23,500 70,000 38,500 (b) 32,000 31/1 68,500 31/1 55,500 Finished Goods Inventory Cost of Goods Sold 22,000 31/1 22,000 31/1 Manufacturing Overhead Sales Revenu 31/1 Manufacturing Overhead Sales Revenue 31/1 31/1 Miscellaneous Accounts (Cash, Payables, etc.)