sorry if I uploaded the same ones its hard to tell but please help and show formulas thabk you!
Problem 12-13A Job-order costing system 2 Lehigh Manufacturing Corporation was started with the issuance of common stock for $60,000. It purchased $14.000 of raw materials and worked on three job orders during Year 1 for which data follow. (Assume that all transactions are for cash unless otherwise indicated.) Page 568 Direct Raw Materials Used Direct Labor Job 1 $ 2.800 $ 6,000 Job 2 4,000 8.000 Job 3 6,000 4.000 Total $12.800 $18,000 Factory overhead is applied using a predetermined overhead rate of $0.60 per direct labor dollar. Jobs 2 and 3 were completed during the period and Job 3 was sold for $20.000 cash. Lehigh paid $800 for selling and administrative expenses. Actual factory overhead was $11,300. Required a. Record the preceding events in a horizontal statements model. The first event for Year I has been recorded as an example. Balance Sheet Income Statement Assets Equity Cash + Raw M. + MOH + WIP F. Goods - C. Stk. + Ret. Ear. Rev. Exp. - Net Inc. 60,000 - NA + NA + NA + NA = 60,000+ NA NA NA NA b. Reconcile all subsidiary accounts with their respective control accounts. e. Record the closing entry for over or underapplied manufacturing overhead in the horizontal statements model assuming that the amount is insignificant d. Prepare a schedule of cost of goods manufactured and sold, an income statement, and a balance sheet for Year 1. 2 22 23 24 F 1 1 60 - Format Clipboard Font Formatting Toble - Styles Styles Alignment 13 Number Gells D27 X f D L M N 0 P Q R S T LEHIGH MANUFACTURING CORPORATION Horizontal Statements Model Equity Rew Exe Assets Raw.M Net Inc. MOH WIP + F Goods GS Ret Ear 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 20 Cash 60 000 (14000) NA (5000) NA (8,000) NA (4.600) NA TA NA MA NA 20.000 NA (600) (11) NA MO 20 29 30 31 LEHIGH MANUFACTURING CORPORATION hele D E F G H K M N O P Q R LEHIGH MANUFACTURING CORPORATION Cost Sheets Job 1 Job 2 Job 3 Item Direct Materials Direct Labor Manufacturing Overhead Total Product Cost $ Try again $ Tly again Tiyanan LEHIGH MANUFACTURING CORPORATION Cost of Goods Manufactured and Sold $ Beginning Raw Materials Inventory Purchases Raw Materials Available Ending Raw Materials Inventory Raw Materials Used Labor Overhead Total Manufacturing Costs Beginning Work-In-Process Inventory Total Work In Process Inventory E F N 0 B G H R P Q D S J K M LEHIGH MANUFACTURING CORPORATION Cost of Goods Manufactured and Sold $ Beginning Raw Materials inventory Purchases Raw Materials Available Ending Raw Materials inventory Raw Materials Used Labor Overhead Total Manufacturing Costs Beginning Work In Process Inventory Total Work In Process Inventory Ending Work In Process Inventory Cost of Goods Manufactured Beginning Finished Goods Goods Available Ending Finished Goods Cost of Goods Sold $ LEHIGH MANUFACTURING CORPORATION Income Statement Sales Revenue Cost of Goods Sold Gross Margin Seling and Administrative Expenses Minden Given P12-13A SP12-13A LEHIGH MANUFACTURING CORPORATION Cost Sheets Job 1 Job 2 Job 3 Item Direct Materials Direct Labor Manufacturing Overhead Total Product Cost $ Try again $ Try again ry again LEHIGH MANUFACTURING CORPORATION Cost of Goods Manufactured and Sold Beginning Raw Materials Inventory Purchases Raw Materials Available Ending Raw Materials Inventory Raw Materials Used Labor Overhead Total Manufacturing Costs Beginning Work In Process Inventory Total Work In Process Inventory LEHIGH MANUFACTURING CORPORATION Cost Sheets Job 1 Job 2 Job 3 Item Direct Materials Direct Labor Manufacturing Overhead Total Product Cost $ Try again ry again Try again LEHIGH MANUFACTURING CORPORATION Cost of Goods Manufactured and sold Beginning Raw Materials Inventory Purchases Raw Materials Available Ending Raw Materials Inventory Raw Materials Used Labor Overhead Total Manufacturing Costs Beginning Work In Process Inventory Total Work In Process Inventory C D H M N P Q R S E F G Cost of Goods Sold o S LEHIGH MANUFACTURING CORPORATION Income Statement Sales Revenue Cost of Goods Sold Gross Margin Selling and Administrative Expenses Net Income $ LEHIGH MANUFACTURING CORPORATION Balance Sheet $ 35,900 Assets Cash Raw Materials twentory Work In Process Inventory Finished Goods Inventory Total Assets $ 35.900 Equity Common Stock Retained Earrings Total Equity $
