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Stroet Seth, tho. is a clothing denign house that has just iastalled an activity bead costing dienenaion iste their job costiog accounting system, On January

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Stroet Seth, tho. is a clothing denign house that has just iastalled an activity bead costing dienenaion iste their job costiog accounting system, On January 1 , the company had the following inventory balances: In work-in-process Job 10 has direet materials is $200, direct labor is $300, and overhead $400, In finished goods, there is one product unsold from last year. Note that Supplies are kept separate from Raw Materials and are acoounted for as Manufactaring Overhead when consumed. Street Seed, Inc, has identified four activity ceaters. The activity centers are listed below, along with the estimated During the year Jobs 11,12 , and 13 were started. The following transactions were recorded during the year: a. Raw materials and supplies were purchased on account, $1,400 and $300, respectively. b. Raw materials were requisitioned for use in production, direct (Job 10, $400, Job 11,$250, Job 12, $500, Jab 13,$300 ). In addition, supplies (Assembling, $100, Material Moves, $50, Parts Administration $75 ) were used. e. The following costs were incurred (but not yet paid) for employee services: direct (Job 10, $180, Job 11, $150, Job 12\$300, Job 13,\$250), indirect labor (Assembling, \$180, Parts Administration, \$50, Training. \$2 \$0). d. Administrative expenses were paid in cash, $900. e. Miscellaneous ovfithead costs were paid on account, (Assembling, \$110, Material Moves \$90, Parts Administration, \$245, Training \$125) f. Manufacturing overhead cost was applied to production. Actual activity for the various activity centen during the year are as follows: 8 h. Job 12 was sold for $3,500 on account. i. The product that was the beginning balance of tiniahod goods was sold for calh, $700. REQUIRED: 1. Prepare the Job cost sheets for Jobs 10, 11, 12, and 13. 2. Compute the activity cost rate for each activity. 3. Prepare all jeornal entries and record in T-accounts for the infarmatten above. 4. Prepare the cost of goods manufactured statemeat. 5. Determine the over/under applied balance for each of the four activities. Chase the net activity hatiacy to Cout of Goods Sold. Show your calculation. 6. Prepare a cest ef goods seld statement. 7. Prepare an income atatemeat for the year's operations. 8. Prepare is itatement of retalned carnigge. 9. Prepare an endian balance sheet for Street Crot, toc. 10. An FXECUTIVE SUMMLAY is required for this problem. Job Cost Nuraber Summary: Direct Materials Direct Labor Factory Overhead Applied Total Cost now Job Cost Number Job Cast Number

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