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 $67,000 worth of materials on account.

(b) Recorded materials issued to production as follows:

Job NumberTotal Cost201$10,40020222,000Indirect materials5,000$37,400

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

Job NumberHoursTotal Cost201117$2,70020239810,200Factory supervision4,600$17,500

(d) Applied overhead to production at a rate of $25.00 per direct labor hour for 515 actual direct labor hours.

(e) Recorded the following actual manufacturing overhead costs:

ItemTotal CostDescriptionFactory rent$2,600Paid in cashDepreciation4,700Factory equipmentFactory utilities3,400Incurred but not paidFactory insurance3,000Prepaid policy$13,700

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

(g) Sold Job 200 for $51,300.

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.)

IN Syllabus ACC 202 Fall 2020 -Guo x HW 2 * IS 201 : Information Systems 201 x + C ezto.mheducation.com/hm.tpx U 4.00 points You did not receive full credit for this question in a previous attempt E2-18 Recording Manufacturing Costs [LO 2-3, 2-4, 2-5] 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 $67,000 worth of materials on account. (b) Recorded materials issued to production as follows: Job Number Total Cost 201 $ 10,400 202 22.000 Indirect materials 5,000 $ 37,400 (c) Recorded factory payroll costs from direct labor time tickets that revealed the following: Job Number Hours Total Cost 201 117 $ 2,700 Zoo 398 10.200 Factory supervision 4,600 $ 17,500 (d) Applied overhead to production at a rate of $25.00 per direct labor hour for 515 actual direct labor hours. e) Recorded the following actual manufacturing overhead costs: Item Total Cost Description Factory rent $ 2,600 Paid in cash Depreciation 4,700 Factory utilities 3,400 Factory equipment Incurred but not paid Factory insurance 3,000 Prepaid policy $13,700 (f) Completed Job 201 and transferred it to Finished Goods Inventory. (g) Sold Job 200 for $51,300. 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 1/1 34 000 1/1 22 500 9 X N A w P hulu N Y 12:07 PM ~ [() 9/10/2020 EIN Syllabus ACC 202 Fall 2020 -Guo x HW 2 IS 201 : Information Systems 201 x + C ezto.mheducation.com/hm.tpx Completed JOD ZU1 allu walls g) Sold Job 200 for $51,300. U 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 1/1 34,000 1/1 22,500 31/1 34,000 31/1 22,500 Finished Goods Inventory Cost of Goods Sold 1/ 29,00 1/1 31/1 29,00 31/1 0 Manufacturing Overhead Sales Revenue 1/1 1/1 31/1 0 31/1 Miscellaneous Accounts (Cash, Payables, etc.) 1/1 2. Compute the ending balance in the following accounts 9 X N A w N Y 12:07 PM ~ [() 9/10/2020 E