Sandra Corporation Balance Sheet January 1 Assets: Cash Raw materials Work in process Finished goods Property, plant, and equipment (net) Total assets 17,050 $7,050 11,050 16,050 34,150 218,050 $269,250 Liabilities and Stockholders' Equity: Retained earnings $269,250 $269,250 Total liabilities and stockholders' equity Summaries of the transactions completed during January appear below: (1) Raw materials purchased for cash (2) Raw materials used in production (direct materials) (3) Raw materials used in production (indirect materials) (4) Direct labor paid in caslh (5) Indirect labor paid in cash (6) Selling and administrative salaries paid in cash (7) Factory utility costs paid in cash (8) Depreciation on PP&E--manufacturing equipment (9) Depreciation on PP&E-selling and administration (10) Advertising expenses paid in cash (11) Manufacturing overhead applied to production (12) Cost of goods manufactured (13) Cash sales (14) Cost of goods sold (15) Overapplied (underapplied) overhead $ 81,050 $ 64,050 10,025 $ 77,050 $ 21,050 $ 39,050 15,050 10,050 $ 3,050 15,050 $ 58,150 $193,050 $279,000 $204,050 Requirec Complete the spreadsheet below. (Negative or Deductible amounts should be entered with a minus sign.) Retained Raw Materials Process Work in Finished Manufacturing PP&E Transactions Goods Overhead net Beginning balances, January1 (1) Raw materials purchased for cash (2) Raw materials used in production (direct materials) (3) Raw materials used in production (indirect materials) (4) Direct labor paid in cash (5) Indirect labor paid in cash (6) Selling and administrative salaries paid in cash (7) Factory utility costs paid in cash (8) Depreciation on PP&E--manufacturing equipment (9)Depreciation on PP&E-selling and administration (10) Advertising expenses paid in cash (11) Manufacturing overhead applied to production (12) Cost of goods manufactured (13) Cash sales (14) Cost of goods sold (15) Overapplied (underapplied) overhead Ending balances at January 31 0 0 0 0 0