TB Problem Qu. 3A-19 (Algo) Sandra Corporation uses a job-order...

Sandra Corporation uses a job-order costing system to assign manufacturing costs to jobs. At the end of the month it closes out any overapplied or underapplied manufacturing overhead to Cost of Goods Sold. Its balance sheet on January 1 appears below:

Sandra Corporation Balance Sheet January 1
Assets:
Cash		$ 17,600
Raw materials	$ 7,600
Work in process	11,600
Finished goods	16,600	35,800
Property, plant, and equipment (net)		218,600
Total assets		$ 272,000
Liabilities and Stockholders' Equity:
Retained earnings		$ 272,000
Total liabilities and stockholders' equity		$ 272,000

Summaries of the transactions completed during January appear below:

(1) Raw materials purchased for cash	$ 81,600
(2) Raw materials used in production (direct materials)	$ 64,600
(3) Raw materials used in production (indirect materials)	$ 10,300
(4) Direct labor paid in cash	$ 77,600
(5) Indirect labor paid in cash	$ 21,600
(6) Selling and administrative salaries paid in cash	$ 39,600
(7) Factory utility costs paid in cash	$ 15,600
(8) Depreciation on PPE--manufacturing equipment	$ 10,600
(9) Depreciation on PPE--selling and administration	$ 3,600
(10) Advertising expenses paid in cash	$ 15,600
(11) Manufacturing overhead applied to production	$ 59,800
(12) Cost of goods manufactured	$ 193,600
(13) Cash sales	$ 290,000
(14) Cost of goods sold	$ 204,600
(15) Overapplied (underapplied) overhead	?

Required:

Complete the spreadsheet below. (Negative or Deductible amounts should be entered with a minus sign.)

Complete the spreadsheet below. (Negative or Deductible amounts should be entered with a minus sign.) Transactions Cash Raw Materials Work in Finished Manufacturing Process Goods Overhead Beginning balances, January 1 (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 PPE--manufacturing equipment (9) Depreciation on PPE--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 PP&E (net) 0 = = Retained Earnings 0